All Forum Posts by: Adolph Bellamy

No thats awesome I've been looking into buy and hold more than flipping anyway that sounds great.  Of course this is provided that the numbers on whatever I look at works.

Hey guys!  So I've been interested in the Newark area a while as well.  Haven't purchased anything yet but the area looks very promising.  I was born and raised in Brooklyn, NY, and to me Newark seems to be undergoing a similar change as Brooklyn, I would strongly recommend (based on the little knowledge that I have) that if you have the means, to try to invest there.  @Jacques Simon, a lot of the people that I have spoken to say that Newark offers better opportunity for fix and flips rather than fix and holds.  What say you?

So long story short, Ive been on here a while and a couple years back I was talking about investing in Newark.  I never did so because of other things happening around me.  BUT, now I'm trying to get back into the swing of things.  Im going to start trying to reach out but my question is, for those of you ladies and gentlemen investing in the Newark, NJ area, who are the ace agents that you would recommend me getting in touch with? Im looking into buying and holding small multi families (no more than 4 units per). 

Along with that, I would say go on Meetup.com or get the app for your phone. Search a particular area (Newark NJ for example) and type in real estate investing and you should get some REI groups that way as well.

There is a meet up I just recently started going to.  The site is http://njreelnetworking.com

it offers great opportunity for networking and the people are very friendly and accommodating to people who are just starting to invest in real estate as well. 

 So before I say anything I want to mention that I am a super new investor (which is to say I have no properties and only have done research on the Newark NJ area and read many real estate books to know whatever I know now about real estate).  Having said that, I feel like from what I've read/heard about Newark, buy and hold is great ( I personally would also like to buy and hold in the area).  There is an enormous potential for growth because of the influx of people from Manhattan moving there as well as all the new projects around the area as well.  However, because of the growth, there is extreme competition for properties.  That means that it will be very hard to find a good deal that will cash flow and appreciate like it is estimated the properties closest to mass transit will.  Because of this my thought is:  If you can spare losing money every month for a while before the property appreciates to the point where you finally cash flow and build great equity, then maybe go for it.  Otherwise you're going to have to put in serious leg work to find a deal, or move a little farther away so that the properties you would be looking at aren't in great demand like the properties in Newark.

@Darren Sager you mentioned that anything near a train station is going above ask and that we as investors would have to be prepared for a fight for those properties.  Would you or have you ever bought anything around those areas even if buying such a property projects to have you lose money every month because of the appreciation value of said property? 

@Shawn Ackerman Yea absolutely send me the info 

Shawn Ackerman No worries I'm glad I could help!

Shawn Ackerman because in doing my research with my partner we found that Jersey (and specifically the Newark area) is in the stage of its cycle where its growing, and as such the houses we get now are somewhat cheap (and definetely cheaper than NY houses) and they will appreciate well in the years to come.