I have met a few folks recently who are active in that market and I am planning on following up and seeing what their experience has been.

Quote from @Lorraine Hadden: As we close out 2024 and look forward to 2025, NAR released its 2025 list of top performers in 10 metro markets.

You should start with a focus on a 2 unit multifamily property in a market that you can afford to get into. 

What market are you referencing?

Where are the best markets to target in and/or near NJ in 2025?

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

Commercial RE is a bit more strict than the residential market which has more options available due to flexible housing regulations in place to make it easier for people to buy their primary residence.1) Family and friends.

There's a tenant that's month to month, rent is at least $800 below market rent, so I told the seller I need that unit to be vacant.

While we are not immune to market shifts, we typically don't see huge bubble bursts. 

Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up.