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If Newark can just outright give some of the people a lumpsum money to leave, there's a chance the city could clean up the area and become a vibrant city of NJ and great chance to do some serious flipping. Can't see it happening right now just like Trenton many of the newly built condos and even hotels will be vacant because there's no commerce.
Newark would be a great place to hold trade shows or business development if crime and poverty is gone.
Irvington is a transportation hub, abuts trendy Maplewood, and has plenty of inexpensive properties...
(insert similar plug for Orange/EO here)
Seriously, losing money investing in real estate is easy, and if you have to ask here, that's likely what you'll do.
Irvington is very rough to invest in presently. It's really is speculation to invest there. Yes there are plenty of cheap houses in need of renovation to pick from, but there aren't many investors taking the risk. There are a few neighborhoods that are better than others. I had an investor look at a 3 family there and it seemed like 3 out of 4 houses on this particular block were boarded up and abandoned.
Newark and Elizabeth might be better options, as there seems to be a lot of investor activity there.
Irvington is a transportation hub, abuts trendy Maplewood, and has plenty of inexpensive properties...
(insert similar plug for Orange/EO here)
Seriously, losing money investing in real estate is easy, and if you have to ask here, that's likely what you'll do.
How is Irvington a transportation hub? They don't even have a train station. There is much more potential in Orange and East Orange.
Yea ScarletKnight, it is a college town with a nice aquarium across from a major city etc etc. No reason it can't become Hoboken or JC.
There is very little chance that Camden will become like Hoboken. The reason is simple. It is cheap to live in Philly. The only reason Hoboken became gentrified is because people got priced out of NYC, so they moved to Hoboken as a cheaper alternative. Philly is nothing like NYC and there is no overwhelming demand for property there, so real estate is cheap.
There is very little chance that Camden will become like Hoboken. The reason is simple. It is cheap to live in Philly. The only reason Hoboken became gentrified is because people got priced out of NYC, so they moved to Hoboken as a cheaper alternative. Philly is nothing like NYC and there is no overwhelming demand for property there, so real estate is cheap.
Quite the speculation...why would Philly be more expensive?
And Camden isn't a college town. It has a branch campus of RU and few students take chances on living there. That's it. Who cares about an aquarium?
Also, Hoboken and DTJC were never as bad as Camden. Neither were ranked most dangerous city in America or anywhere close.
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