New Investor from NJ

[Rafael Norat]

Hey everyone. My name is Rafael. I live in New Jersey and am starting my investment carreer! Realistically speaking, I feel fortunate to have found this forum and look forward to learning tons along the way. I'm new to the investment world, but very motivated, humble, driven, and excited to learn. I will be posting my current status and goals soon. Starting small, but looking to collaborate as much as possible. Thanks and looking forward to learning more!

[Steve Wilcox]

Welcome to the forum from another NJ investor.

Taxs are city by city specific. Some areas are workable, other especially high end areas are not. I used to pay almost 30k a year on a personal residence- almost impossible to generate enough rent to cover that PITI and other expenses.

However there are other cities where you can buy a 3 or 4 family for less then 10k a year taxs. I have a 3 plex with less then 5k a year in taxs which I can deal with.

Overall NJ is not the best state for rentals because of taxes and more challenging the landlord tenant laws favoring deadbeats rather than hardworking people.

That does not mean its a bad area for buy and sell, and buy and hold in the right areas where you can get positive cash flow.