To invest in a fix and flip real estate property, the most important step is finding the property. While it’s important to ensure the numbers make sense and that the rehab is manageable, a significant factor in selecting a property is the neighborhood.
Fortunately, New Jersey real estate properties are a hot commodity right now. This is primarily a result of the COVID pandemic, with many New York City residents moving to New Jersey. While this trend appeared temporary in the beginning of the pandemic, it’s now obvious it is here to stay. This is in large part due to companies still allowing employees to work from home for an undefined amount of time.
NJ Neighborhoods To Watch For New Developments
Neighborhoods in New Jersey have been rising quickly since 2020. The following five areas specifically have seen a significant increase in building constructions, renovations, and proposals:
Northern Downtown: Thousands of apartments are being built in this downtown neighborhood north of the Holland Tunnel, as well as parks and community spaces.
Journal Square: Cottage 29 Owner, LLC will be developing and constructing a 28-tower tower with 669 residential units and 45,000 square feet of office space.
South Orange: A five-story development is being constructed in the South Orange area that will include 111 residential units, 12,000 square feet of retail space, and 10,000 square feet of office space.
Morristown: Office space is being constructed for the M Station at Morristown complex, between Morristown’s NJ Transit train station and the Morristown Green. The building will include mixed-use buildings, outdoor plazas, drop-off areas for ride-sharing, and retail space.
North Bergen: A 10-story mixed-use development has been proposed in North Bergen. It would include 65 residential units, a 1,901-square-foot restaurant, 752-square-foot coffee bar, 119 parking spaces, and a rooftop bar and pool.
Hard Money Loans with West Forest Capital
West Forest Capital provides funds to real estate investors and others looking to finance non-owner occupied real estate. Our hard money loans have minimal requirements for approval, offer flexible terms, and are approved and processed quickly. We fund property types which include:
We provide rehab funds, or full construction costs, as needed. We also provide fast closings, almost always less than 10 days, and often as quick as 3 to 5 days. We’ve even previously closed a brand new loan in one day! We lend in New Jersey, New York, Connecticut, Massachusetts, Pennsylvania, and Florida.
To get started with your hard money loan, please call us at 212-537-5833 or text us at 917-267-9523.