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Old 06-18-2017, 09:32 PM
 
6 posts, read 2,344 times
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Look at westfield. If you can out muscle a builder for a knock down, go around to several builders getting estimates, and go with the lowest. After the house is complete it will be a great investment to flip. Just have to put in the work which is a terrible process but might be worth it.
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Old 06-19-2017, 12:19 PM
 
425 posts, read 335,908 times
Reputation: 170
Quote:
Originally Posted by jaymoney View Post
Newark has incredible appreciation potential. Might be a while.

Shhhhh....Newark is awful stay away. Forget the Ironbound too, awful place.

In all seriousness, Newark has seen some serious appreciation in the Ironbound and Downtown area.

Prices in the Ironbound are up about 20% in the last 3 years. Rent keep pushing the value of these multi-family properties. Rents use to be $1000-$1500, now they are $1500-$2200. Rents are supporting values now much more than in 2007.

the Ironbound will be seeing a SERIOUS transformation in the coming years. The Iberia lots have finally sold and the developer will be building 500+ units on the two blocks.
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Old 06-19-2017, 12:21 PM
 
425 posts, read 335,908 times
Reputation: 170
To the OP, money in real estate is made on the purchase price. Don't set yourself on one area, see where you can get the best deal.
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Old 06-20-2017, 12:07 PM
 
290 posts, read 243,563 times
Reputation: 199
Quote:
Originally Posted by RafaelNadal View Post
Hi,

Do you have any suggestion which town to buy house that has great appreciation potential? I know Short Hills has a luxury mall and very good school district, but it's too expensive. A 4-bedroom house can cost 2m. How about towns in central NJ, e.g. Edison, Piscataway, Highland Park, etc. With 700-800k, it seems to be sufficient for a decent house in this area. But I am not sure how much appreciation potential these house have.

Generally, only towns that have easy access to NYC (within 1 hr) will be considered. Any suggestion is appreciated.
You asked location with the greatest appreciation potential, not the location with the best neighborhood.

The answer is Journal Square in Jersey City 07306.
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Old 06-21-2017, 02:48 PM
 
2,803 posts, read 1,273,528 times
Reputation: 4509
Quote:
Originally Posted by RafaelNadal View Post
Hi,

Do you have any suggestion which town to buy house that has great appreciation potential? I know Short Hills has a luxury mall and very good school district, but it's too expensive. A 4-bedroom house can cost 2m. How about towns in central NJ, e.g. Edison, Piscataway, Highland Park, etc. With 700-800k, it seems to be sufficient for a decent house in this area. But I am not sure how much appreciation potential these house have.

Generally, only towns that have easy access to NYC (within 1 hr) will be considered. Any suggestion is appreciated.
I don't know why you are getting these snarky answers. If you don't know the answer, then don't reply.

Homes that hold their values and appreciate over time tend to be located on the train line in good neighborhoods to make it an easier commute to NYC. Homes where the express train is no more than around 60 minutes during rush hour in the morning. This means it should be in a town where getting to and from the train station is easy to do. If you have to travel and park to get to the train station taking you an additional 20-25 minutes, then this home isn't going to be as desirable as one where it only takes 5-10 minutes to get to and park at the train station. Or 5 minutes to be dropped-off.

As for the home, it should be at least a 3 bedroom, but most likely a 4 bedroom home with at least 2 bedrooms, and a 2 car garage.
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Old 06-22-2017, 07:43 AM
 
27 posts, read 11,074 times
Reputation: 30
All of the crappy towns on NJ train lines that are <1h from the city. Jersey City, Newark, Elizabeth, Linden... Neighborhoods close to train. They are crappy now, but eventually they'll go up. As someone mentioned Queens and Brooklyn were horrible not so long ago and look at them now. Heck, even today half of Manhattan, majority of Queens, good parts of Brooklyn, almost whole Bronx are complete ghettos. And that didn't hurt the real-estate prices. Quite the contrary.
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Old 06-22-2017, 07:55 AM
 
2,038 posts, read 744,633 times
Reputation: 1253
Quote:
Originally Posted by srdjanmax View Post
All of the crappy towns on NJ train lines that are <1h from the city. Jersey City, Newark, Elizabeth, Linden... Neighborhoods close to train. They are crappy now, but eventually they'll go up. As someone mentioned Queens and Brooklyn were horrible not so long ago and look at them now. Heck, even today half of Manhattan, majority of Queens, good parts of Brooklyn, almost whole Bronx are complete ghettos. And that didn't hurt the real-estate prices. Quite the contrary.
I'm thinking Rahway and Harrison are two good choices.
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Old 06-22-2017, 08:23 AM
 
Location: Summit, NJ
1,213 posts, read 1,048,134 times
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I was looking at Newark just north and northwest of the Broad Street Station, near the southern part of Branch Brook Park. (North of there is Forest Hill which is well known as a nice area.)

Housing is pretty cheap there right now. Plus it "feels like a neighborhood," and being near a park should help appreciation (think Prospect Park in Brooklyn). Since I work in Madison NJ, it damn near makes good financial sense for me to buy there.
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Old 06-22-2017, 08:34 AM
 
1,551 posts, read 1,689,622 times
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I think your house IS an investment. Buy low, sell high. Analyze the market, what is in demand, and why (schools, train line, taxes lower than other areas perhaps).

We have made $350K on one house and $200K on another by buying smart and not making emotional decisons. We got our third house for a great price, and expect to hold 7-10 years, and make $$ again.
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Old 06-22-2017, 09:08 AM
 
Location: Holmdel, NJ
20,454 posts, read 24,878,333 times
Reputation: 12498
Quote:
Originally Posted by RafaelNadal View Post
Hi,

Do you have any suggestion which town to buy house that has great appreciation potential? I know Short Hills has a luxury mall and very good school district, but it's too expensive. A 4-bedroom house can cost 2m. How about towns in central NJ, e.g. Edison, Piscataway, Highland Park, etc. With 700-800k, it seems to be sufficient for a decent house in this area. But I am not sure how much appreciation potential these house have.

Generally, only towns that have easy access to NYC (within 1 hr) will be considered. Any suggestion is appreciated.
camden. lots of appreciation to be had.
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