@Miguel Bautista Everyone on this post is hating on Jersey. Let me preface by stating I'm a small time landlord in Bergen County NJ. Yes, we have some of the highest property taxes in the country, yes our winters are harsh, and yes the homes are old as dirt out here....
So yes, yes, and yes challenges and high barriers to entry in Jersey are prevalent. Does that mean you should write it off? I'll tell you one thing my proximity to NYC has created phenomenal property appreciation especially most recently during the Covid outbreaks, and the relocation craze away from major cities to nearby suburbs. Multifamily homes are scarce therefore if I sell I'm assured a budding war. If the property goes vacant yes the carrying costs to cover that vacancy are high due to taxes, but I've never had a vacancy extend beyond 30 days unless I leave it vacant for renovations. There just isn't enough rentals for all the tenant population.
Everyone that posted here is absolutely right. It's not easy be a Jersey landlord. You gotta be tough as nails. It's a very landlord friendly state so you gotta get educated and stay in the right. If your willing to take on a challenge you can build a promising rental portfolio that can enable you a steady passive income. I use the term passive loosely because unless your entirely hands off and utilize a property manager then it's never entirely passive. Investing in rental properties is no easy task anywhere you choose to invest and why should it be? Your responsible for providing safe habitation, the number one most vital service in society. Your taking on a crucial responsibility to our society. Never the less Jersey is a beautiful place don't be scared away by the harsh winters and the New York attitudes under the tough exterior is alot of opportunity in the realm of real estate.
