All Forum Posts by: Watson Hilaire

@Percy N. wow, Princeton! I have appealed and lowered my property taxes in NJ for the past two years. You are right property taxes are the highest in the nation.

@Kelvin Allen welcome to bigger pockets! Charlotte NC is a great city to invest in. My Carolina Panthers undefeated!

Good luck!

@Stephen Chatto I prefer Burlington because I am familiar with the area. I lived in Willingboro and commuted to Manhattan via Burlington riverline station to Trenton NJ transit. I have not had to do an eviction.

@Stephen Chatto the Burlington Bristol bridge will bring you right into Burlington NJ from Levittown. Check it out sometime.

I am purchasing a single family twin (townhouse) in NJ in November. It is attached to one other house. The house is banked owned and I am paying $20,000 all cash for 2 bed 1 bath 1404 sqft. This is a buy and hold. I called my bank to get landlord insurance and they say it would cost $233k to rebuild so that is the policy coverage. So I am paying $20k for a house that need $5k in repairs and the bank say I need $233k in coverage. My monthly payment will be $87.

Congrats @Okeoma M.! Brooklyn in the house!

Hello @Marcus Ford,

Looks like you have a great deal. You ask what is the best way to contract these properties? Well I would suggest you contract these to purchase at below 65% ARV and have seller willing to take a 2nd at 10% purchase price at 5% interest. Then shop the deal to flippers.

Good luck!

Hello @Ritu Verma,

I never been to Mona City but I can give you a few pointers. Look at the rents, property prices, and local employers in the area. Try to find a property you would live in. Make sure this property will rent for at least 1-2% of the purchase price. For example if the purchase price is $100,000 it should rent for $2,000 a month. if a property rents for 2% of the purchase price it is more likely to provide positive monthly cash flow.

Good luck!

@Eddie T. yes this will be my third house and second rental but first house I purchased without living in it first. My current home will be a rental when we PCS. Wife is an Air Force officer. I am not worried about vacancy because I will own house free and clear, we used to lived in Willingboro so have a feel for area and culture. The house is in great location, across the bridge is Levittown PA. Philadelphia is 20 min, Trenton is 20 min, Camden is 20min.

@Jesse Richardson tenants will be tenants, just have to screen for good ones. I close on November 6th but I already posted ad on Craigslist to rent for $1150 and have several interested. I think it should rent for $1200 but went with $1150 because section 8 fair market rent for two rooms in Burlington county is $1156. I visited Browns mills when I went to check house out. My wife has family in Browns mills. Yes housing in Browns mills are cheap but the majority of military tend to prefer to live in Pemberton, Lumberton, westampton or mount holly. At least that was the case when we were stationed there. Plus brown mills is too far in land and far from major cities and mass transit so I wouldn't by there. 

@Robin Boyer thanks! I am searching for more deals like that but wife wants me to get this rented before buying another one.

hello @Ciel Tierra,

We appealed our real estate tax on our NJ property in 2014 and again in 2015. Both times the Tax Assessor sent us an offer which met in the middle. Assessor did not want to go to court and preferred to settle. 

Good luck.