All Forum Posts by: Account Closed

I have nothing valuable to add to his conversation. I just am enjoying reading about these magical places where taxes are so low or non existent. I'm just over here in Jersey crying into my tax bills. But I hope y'all get get that figured out cuz I'd love to move to Texas!

My first apartment about 12 years that I rented, I had to pay the REAs agent a months rent for the privilege of her showing me the place. I got my mom an apartment two years ago, and she had to pay the PM a $600 or so fee for the privilege. Ask the REAs how they're making money off this deal before you go offering them your own money!

Congratulations! Welcome to the world of land lording. No amount of reading or schooling will get you 100% ready for what you're getting into. Of course, keep educating yourself; but realize there's no replacement for experience. As already mentioned, read local landlord-tenant law. Very important. Start developing your systems and stick to them once you find what works for you. Tenants are not your friends. Best of luck!

Sounds like you don't have any actual applications yet. An extra $200 a month sounds great, and if they're serious-they'll submit the application. I don't know what your timeline is, but I'd say whoever applies and qualifies first, gets it. Of course, I'd be nudging the higher paying applicant a little harder to get the app in first, but who knows how qualified they are. First in, first approved.

Thanks for your replies guys. Jennifer Petrillo thanks for the synopses! I've just been checking areas, was looking around Hackettstown, and kept going west a little and saw a ton of stuff for sale. I had my suspicions about what you outlined. I'm currently in Clifton but moving to Randolph, so I'm just trying to expand my radius a little to find the best opportunity. Hackettstown was suggested by a friend, but it looks like slim pickings around there!

Hey fellow Jersey investors. I've got the itch to scoop up some buy and hold, and I've been noticing some properties in Warren county that are priced well and seem like they would cash flow sufficiently. My reluctance is my lack of knowledge of the area, and I find myself wondering why there seem to be so many houses for sale for so cheap. My theory is maybe a property management issue? No one wants to drive all the way over there? Otherwise it seems like a solid area to grab a couple cheapos to add to the portfolio. Is there anyone on here that has experience/knowledge of the area and can offer insight or advice? Please reach out, I'd love to hear what you have to say. Thanks.

Nathan Gesner has it right. Eat the first month's rent and get her out. Clean it up. Rent it higher, and keep a better class of tenant in your building. Don't be penny wise and Dollar dumb

Welcome Dylan. I live in Clifton, which completely surrounds Passaic on all sides. I also work my full time job in the entire area as well. One side of that park is in the Passaic Park area which is the Jewish section. The other side is a less than desirable neighborhood, but not a dangerous one. That area could work with the right deal. My friendly advice would be to avoid Passaic if at all possible. You could try looking in Clifton. Great rents, and some better neighborhoods...but it also has it's not so great spots as well. Best of luck!

I won't pretend to know a lot about Central Jersey, but if you're commuting to NYC that's a stretch depending on how close you are to a ferry. Plenty of places in jersey you can save money on taxes and housing, but you probably don't want to live there, especially if you're a commuter. If you were buying strictly as an investment it gets broader.

I'd consider Lyndhurst, Wallington, Garfield, Carlstadt...the taxes in those towns are substantially lower than most of the towns you mentioned, so from an investment point of view it makes your cash flow easier. There's a light rail in Bayonne that makes it attractive to commuters, and jersey city is only bad in some(or most) areas. I'm no agent but that's just my two cents being from Rutherford.