Multifamily Rentals In Jersey City: The Path To Big Revenue?
Multifamily rentals in Jersey City are not new. Properties spanning from duplexes on up to whole apartment buildings have been a mainstay for the residents of Jersey City for many decades now. However, with financing at its most accessible, and materials at record affordability rates, commercial real estate investors are purchasing multifamily rentals in Jersey City and multiplying their revenue like never before.
Single Family Rentals Are No Longer Trending
A few years ago, it was was not unusual to see single family rentals in Jersey City, and surrounding areas. Since then, multifamily rentals in Jersey City have declined, as people are more likely to purchase homes for themselves, often from fix and flip investors. On the other hand, multifamily rentals in Jersey City have skyrocketed, due to affordability and convenience. Multifamily rentals in Jersey City provide ease of access to work, school, entertainment, shopping and other location-based benefits, while offering tenants upkeep and maintenance that they do not have to do themselves.
Multifamily Rentals In Jersey City Generate More Revenue
A renovated multifamily rental in Jersey City can bring in the same amount per unit as an entire single family rental property. This offers a huge advantage to commercial real estate investors, even those just getting started in the market. When tenants move out from a single family rental, that property stops generating revenue until new occupants move into the home. This can place a major strain on cash flow for a full month, if not longer. With multifamily rentals in Jersey City, if one tenant moves out, revenue is still generated by the other units, offering a financial buffer. Multiply this by the number of units in a given structure, and it is easy to see why so many commercial real estate investors are gearing up to purchase and renovate multifamily rentals in Jersey City.
Financing Multifamily Rentals In Jersey City
Financing multifamily rentals in Jersey City has never been easier, depending on where you look. Traditional lending channels, such as banks, are reluctant to offer financing to independent commercial real estate investors. These lenders often have prohibitively high requirements to weed out anyone except large development firms. At The Capital Lenders, we offer a wide range of financing programs specifically for multifamily rentals in Jersey City. Whether you need a loan for owner occupied rentals, a bridge loan to cover immediate expenses on a renovation project, mezzanine financing for larger apartment buildings, or anything in between, we can help. We offer the most accessible and flexible financing solutions for multifamily rentals in Jersey City. Contact The Capital Lenders today to learn more.