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Knobbies4Ever t1_j9ki83s wrote

Can you clarify: are you thinking about buying a 2-family and living there (and renting out the other unit)? Or purchasing an investment property you won't live in?

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Desi_techy_girl t1_j9kuz8u wrote

Hi, I am thinking to buy investment property and rent both floors.

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el_tigrox t1_j9kvnuo wrote

Booooooooooooooooooooooooooooooo.

Edit: and since you live here - why don’t you do the research yourself? Take a walk to the part of town, check the listings - it’s not like they are private.

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Goodbye_Sky_Harbor t1_j9l2p1l wrote

People who are thinking of investing in property and go "oh strangers on the internet will help me with this multiple hundreds of thousands investment" legitimately baffle me.

And the thing is it has to work sometimes otherwise people would stop doing it. Drives me nuts.

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Desi_techy_girl t1_j9l39zq wrote

I have already been there, my family has been in Jersey city for almost 40 years. I wanted to hear other opinions and I am sure reddit is the platform for that. Why are you so grumpy?

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Ilanaspax t1_j9ly8bm wrote

Most people would rather have the homes in their neighborhood occupied by the owner instead of a revolving door of renters. When you buy a property with no plans to actually live there you’re just sucking up the housing supply simply to profit while making it more difficult for buyers who want to own a home to live in. Blatant greed can make people a little grumpy.

Also not for nothing but your post history shows you saying you moved here from India for work and you live in a downtown apartment rent free? Seems like you’re trying to imply you were born and raised here by referencing your family being here for 40 years which is pretty disingenuous.

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Knobbies4Ever t1_j9li8hr wrote

Sorry to see you get so many downvotes on your reply to my question. I know you're a regular in this sub & hope you can get some useful intel.

I don't have any specific advice about rents / math to make that kind of investment work, or not.

I've lived a few blocks north of Communipaw near West Side for many years. My little pocket of the neighborhood has always felt very safe. I'm not on the streets south of Communipaw every day, but my take is it's more block-by-block: some good spots with folks looking out for each other; some spots with drug deals & shady stuff going on.

My guess is that over the next 10+ years there will be more investment in properties within walking distance of the West Side light rail station. The place you're looking to buy isn't super close to Bayfront - but businesses all along Westside should get a boost from that development.

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