Paterson RE - need advice

[Daria B.]

I am looking for some advise from those investing, if, in this area. 

Some back drop: 

My mother lives in Paterson and has been for most or more than my adult life. I grew up from the 60’s onward until permanently leaving when I started college and as such the area I knew as a child has drastically changed. 

She owns the house she lives in with no mortgage/note obligation. She had a former tenant that did some damage but most of what I see is wood rot, possible roof issues, and other damage from not being able to care for the home.

I have begun to approach her to discuss the cost of upkeep that ultimately is eating away at her living costs.

Is there anyone investing in this area whether they are renting or fixing and selling?

I’m not sure what else to ask at this stage - I know nothing about this market and am trying to find alternatives to her continuing with these home costs.

On a side note: I don’t see how any body affords to live in NJ with the taxes that I see being paid. Homes built in 1920’s era have the same or more tax base as I see with 2000 and forward.

Thanks!

[Michael Lee]

Hey Daria,

Are you leaning towards keeping the property, fixing it and renting it out or selling it outright to an investor? I work with many investors who do buy in Patterson to fix and sell if that's what you're leaning towards. 

I'm very close to Paterson. If there's anything you need help with, feel free to reach out to me anytime!

Good luck!