Where to buy investment property? (Newark, Morris: for sale, real estate, apartment)
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I'm predicting the stretch of Brooklyn Navy yard along Flushing ave. Its mainly commericial but I see them constructing some residential units there. That area is a hipster biker conduit between Williamsburg and Dumbo and the rest of gentrified northern brooklyn. Its enclosed by the BQE, Brooklyn Navy Yard, and projects but with so many hipster bikers biking thru, it makes sense to try to gentrify it.
I'm predicting the stretch of Brooklyn Navy yard along Flushing ave. Its mainly commericial but I see them constructing some residential units there. That area is a hipster biker conduit between Williamsburg and Dumbo and the rest of gentrified northern brooklyn. Its enclosed by the BQE, Brooklyn Navy Yard, and projects but with so many hipster bikers biking thru, it makes sense to try to gentrify it.
The enclosure hurts. Especially when its PJs. And walking under the BQE over there is no joy, but Williamsburg looked past that.
The Southern Bronx of course! Anywhere south of 163st..particularly the area along Port Morris along Bruckner Boulevard and Mott Haven. Just about all of the warehouses along the waterfront are for sale...big changes are coming.
The Southern Bronx of course! Anywhere south of 163st..particularly the area along Port Morris along Bruckner Boulevard and Mott Haven. Just about all of the warehouses along the waterfront are for sale...big changes are coming.
Definitely not looking to spend millions to make millions - i'm not rolling that hard.
I'd like to find a fairly cheap place - maybe 200-400k that I could do some work on - in a neighborhood which will then gentrify and become much more expensive in the same way that Williamsburg did.
Basically I'm looking for a crystal ball if anyone has one.
Now is probably not the right time to buy, even in an depressed area. Its a sellers market. In addition, I would wait until after the mayoral election. Last thing you want is to be stuck with a property in an area you think will gentrify, then it doesn't. All the democratic candidates are soft on crime, and that is no good for gentrifcation of shady neighborhoods.
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