Where do you think is a better investment? Clifton area or Pequanack area? (Newark: renter)

[GiantRutgersfan]

Clifton/Woodland Park/Totowa area

-easy to get to NYC
-more renters live in the immediate area
-easier access to more job opportunities

or

Pequanock/Bloomingdale/Wanaque/Pompton Lakes area

-lower taxes
-less congested/easier to get around
-family friendly area with good schools
-better potential for long term, stable tenant who wont give me issues.


Would be looking at a 2 bedroom condo/townhouse either way. What do you think would be a better move long term?

[scottiemobes]

What you said about Clifton/Woodland Park/and Totowa is definitely true. Keep in mind, however, these communities are not what they once were.

On the flip side, you make good points about Pequannock/Bloomingdale/Wanaque/Pompton area. My only issue is that these areas are further away from major job centers and you may not have a steady stream of renters.

[Smartone]

Bloomingdale, Clifton, Pompton Lakes, Pequannock would be best. Wanaque is sort of in "no mans land" while Totowa and Woodland Park are not the best because there is a higher risk of property crime, unless you go to the southern part of Totowa closer to Little Falls.

[GiantRutgersfan]

Originally Posted by scottiemobes

What you said about Clifton/Woodland Park/and Totowa is definitely true. Keep in mind, however, these communities are not what they once were.

On the flip side, you make good points about Pequannock/Bloomingdale/Wanaque/Pompton area. My only issue is that these areas are further away from major job centers and you may not have a steady stream of renters.

This is my major concern with going in that direction.

Pompton Lakes to Jersey City/Elizabeth/Newark would be around an hours drive for example. Homeowner may just deal with that commute, but a renter wont.

On the other hand it is easily commutable to places like Wayne, Mahwah, Clifton, Morristown, Parsipany, Paramus, etc where a lot of people work