Investing in Paterson, New Jersey

New Jersey happened to be one of the hardest-hit states early on during this pandemic, but since the governor of New Jersey declared real estate an essential business last year, Northern New Jersey has seen a lot of prospective buyers looking to move out of New York City for greener pastures across the Hudson. According to Wallet Investor, Paterson NJ is a smart place to make an investment because the long-term profit potential is about +5.56% in five years. Additionally, The Patch cited that both sellers and buyers can benefit from the current real estate environment. Buyers are able to stretch their budget with the benefit of record low-interest rates. Sellers, on the other hand, have an abundance of new buyers looking, a stabilizing local economy, and limited housing inventory available going into the spring 2021 market. 

Movers consider Paterson for its affordability and transportation infrastructure, including an NJ Transit Main Line commuter rail service to Hoboken located in Downtown Paterson. Sharestates has made many strong connections with real estate developers in Paterson over the past six years, and now that the real estate business is getting back to normal we have seen an uptick in lending in the Paterson area. According to Zillow, there are now 200+ homes for sale, ranging from $95K to $699K as of this article’s posting. Paterson has affordable housing stock compared to the greater metropolitan area with a diverse arrangement of multi-family, townhomes, condominiums, and single-family housing units available to buy, rehab, rent, refinance and repeat.

Here are some of our recently funded projects:

  • Loan amount – $332,000
  • Loan Purpose – Cash-out 
  • Property Type – Residential 
  • LTV – 70%

  • Loan amount – $239,000
  • Loan Purpose – Cash-out 
  • Property Type – Residential 
  • LTV – 65%

To learn more about Sharestates or inquire about funding your next real estate project please click below.