Just curious who is investing in Jersey ?
I’m a loan officer in NJ, but haven’t invested here yet. I’m trying to invest everywhere, not just where I live.
What part of NJ are you in? Do you invest?
I’m looking to invest in New Jersey, I live in the Laurel Springs area.
I would like to invest in nj too. I am in nj (somerset). So far have not found any thing. One thing which concerns me is tax rate because of which holding cost is very high if you have vacancy. I am basically looking at the office buildings.
just thought I’d say hi. I’m in Rockaway (NJ). I’m new to investing but am open to networking and making relationships.
Ryan
I bought my first investment property townhouse in south Jersey last year. Listed at $180K, paid $160K with conventional 30yr mortgare at 20% down. Spent about $3000 and 6 weekends of work updating it. Rents for $1300/month
I’m currently looking for other “better” deals - forclosures, rehabs, etc
I remember when Town homes in South NJ could be had for 50K each and the sellers thought they were hitting it big! And we aren’t talkin 20 years ago, more like 3-5
Less than 100 ft from my $160K townhouse an exact copy sold last month for $230K and 2 are for sale at $240K. Now both of these are stream front (swamp front actually) so mine wouldn’t sell for that but i figure it would go for around $200k.
However, I’m not looking to sell. I want to buy at deeper discount for better passive income.
I’m having a tough time finding “bargains” even when I’m willing to do extensive rehab.
I cant believe I didnt see this thread! :o
:handonhip:
JG
I am located In Atco, South jersey and have bird dogged leads, done some wholesales myself, and even have got my hands dirty helping other investors rehab their properties, currently looking into rentals and flips in camden county.
I would love to network and meet up with any local people and make some money together, share experiences, etc.
Anyone interested , please contact me.
Ron
Bumping this one back up to the top- I can’t believe I didn’t see it either!
I live in Passaic Co (Northern New Jersey). I have primarily invested in upstate New York (Buffalo), where I am originally from. I have one 4 unit apartment building and two SFR’s in Buffalo, but I am now looking for investments a little closer to home. I am also in class to get my NJ RE salesperson’s license (will have it in 3 weeks), and will also take the test for my NY license. Would love to network with anyone close to this area.
-Julia
I’m from Somerset County and I haven’t invested in any real estate yet, but I plan to do so in the next couple of months. I won’t be free to do so until after the first week of May, but after that I’m gonna get the ball rolling.
Hi everyone, I live in west deptford area and always looking for investor’s and lead to do some networking…drop me a e- line
Former Bergen county commercial real estate developer has now completely disinvested in NJ.Sold all my properties but still have my NJ RE license and sell the occasional golf course or office building.
Am holding all cash,and a lot of it in foreign currencies as the dollar is going down,and plan to only buy real estate in Waikiki where I am relocating to after the bubble bursts.With America’s debt-ridden dollar-collapsing bubbles economy on the brink of collapse,foreign real estate will be a lot safer and is sure cheaper.
Wow, thanks for that positive outlook on the economy. Enjoy Waikiki…
In some ways I agree with you. I think it is very risky to get into rehab projects right now and look to sell them for a profit. However I think right now is the best time to purchase Investment property if you plan on keeping it long term. With interest rates rising, but not too quickly, housing prices are falling. You can still get a very good rate and a better than asking price on a property. In a year or less from now you will see much higher rates and even though prices may keep falling it wont balance out to what you would pay now. 20 or 30k on a lowered purchase price may change your payment by 20 bucks but a 1 or 1.5% increase in rate can change your payment by 100- 150 bucks a month. I dont think there is a need to worry about short term vaule. the concept is to buy and hold the properties. Having rental income cover the monthly payments and put some positive cash flow in your pocket monthly. This mkaing it so you have not really paid anything for the property over the years. Then selling for a profit down the road when the property has appreciated to you making the profit you desire.
Housing proces are a roller coaster. they go up and down but overall they do rise. If you look from year to year there may be big jumps or small up and down with the value. However if you look over a decade the prices tend to have almost always risen. Usually only in areas that were decent and have become run down do the values drop and not return. That is only because the area has become depressed not the property itself.