Investing In Northern New Jersey
I live in Queens, NYC. It seems virtually impossible to buy investment/rental property in the city unless you have alot of cash & connections.
What about buying in Northern New Jersey, preferably Hudson County?? There are alot of Condos & single family houses under $200,000 which look like they have potential.
I have between $30,000 - $40,000 in cash which I can commit to a down payment.
My income is $45,000 & my middle FICO score is around 640.
What options do I have in this market??
What market are you looking to tap into?
Preferable Hudson County, Jersey City area. There seem to be deals in Condos but the neighborhood isn't that great (except for the waterfront)
Sry if this is dumb question, but why do you need 'connections' in NYC to buy rental property? Don't you just need the gazillion dollars for the downpayment?
Personaly I would not invest in New Jersey. Everytime you needed to visit your property you would be driving over an hour each way and paying a minimum toll of $4.00 each way. If you live in queens stay in queens.
Now to answer your question about what options you have we need to know more about what kind of investing you are looking to do. rentals, rehabs, flipping, etc...