All Forum Posts by: Michael DiDonato

What Chris said is correct in my county.  The weird thing in one of the counties I invest in is that the Taxes run Jan 1 to Dec 31, but the bill doesnt come until the beginning of March.  My experiences before I started investing in that county was taxes were always 'prepaid', so if the bill was due May 1, the taxes ran May 1 to April 30.  Long story short each county can have some minor differences to how they do things.  Just make sure you have the whole yearly taxes in your analysis and when they bill them or what periods they cover wont be a huge issue.  Missing a school tax for my one property would be a $2000/year mistake.  That isnt something you want to miss!

Michael DiDonato , in Pennsylvania and NY states where I invest, taxes come out twice per year. In the spring, we get the city/county taxes, and the school taxes come in the fall.

Looking at your schedule, #1and 2 from 2016 are Probably county/city taxes, and 3 &4 are school taxes. Add 1 and 3 together, that's your total tax bill for the year.

Greetings, fellow BPers.

We have some rental properties in JC and are looking to scout out new property managers or management firms. What experiences have you folks had in this area? Good experiences? Bad experiences? All views welcome.

We are looking to build a network of supports for the invesment properties and share insights.

Regards.   SCC

You can do a 203k loan which is an FHA rehab loan so you don't have to come out of pocket for renovation funds. As far as looking for houses I would hit some local real estate investment clubs or join the local Meetup group(Meetup app) and see who is wholesaling properties so you fond the best deal.

@Chris Daliani and I will organize a meetup in Bayonne.

Send me a private message with your email address and which of these dates would work for you:

- March 23

- March 27

The meetup will be in Bayonne. Exact location will be communicated closer to the event.

Also let me know if you can think of anyone else who should participate.

Hi, We're renovating a 3rd (top) floor rental unit and using 10mm laminate from Lumber Liquidators. What kind of underlayment does best with rentals in medium end apartments close to Hoboken? I asked LL about Home Depot foam underlayment (which is much cheaper) and they said since its foam it has a tendency to feel unstable because of the air that is trapped below and over time it will become less and less even....not sure if this is just a ploy? Also concerned about noise- the less the tenants complain the better! 

@Michael Elfant Taxes are definitely an issue. With property reval coming down the pike, I'm factoring in 2.07% property taxes with every potential listing. Speaking of which, has anyone heard any update on the reval?