All Forum Posts by: Philippe Schulligen

@Patrick Martone Based on @Sunny Burns input regarding taxes I did some research on http://www.nj.gov/dca/divisions/dlgs/resources/muni_stateaid.html

Here are the top towns with state tax aid in NNJ.

Sharing with the community... I live in Fort Lee, NJ in a co-op which did not raise maintenance in at least the past 3 years, I am not saying these co-ops are common, but well-managed co-ops do exist. 

FYI, I pay $1,300 of HOA for a 2 bed / 2 ba. apartment, all inclusive of utilities, taxes, some insurance (my own insurance is less than $40 per month), building management, maintenance, and doormen.

The value of the apartment is about $160K. I assume similar places that can be rented in the area are about $2,500, but unfortunately, the structure oh the co-op prevent to rent the apartments.

Thank you to all of you for your answers!

Hi Chris.

Thank you for your answer. I look primarily for investing in NJ for proximity for my first property. But if the numbers don't add up, I will look out of state.

Thanks, 

P.

Hello BP members!

I live in Northern New Jersey and I am totally new at Real Estate Investing. I am eager to learn and make new connections with other investors to get out the rat race! 

Could you please help me with the following questions?

In your experience, how does NJ compare with neighboring states (NY, CT, PA) and also the rest of the USA for:

(1) cash flow and appreciation of real estate?

(2) ease of making deals and being a landlord?

Best regards,

Philippe