i'm new to real estate investing but have been searching, so i have a bit of an idea on how the industry works. I am interested in single family homes first then i will like to try on duplex or multi-family properties. The properties should cost between 30k - 45k. I know that in staten island i won't be able to find these kind of offers but willing to look in new jersey(taxes are high).
Rental Property Investor · PA · Member since 2019 · 4 posts · 0 votes
7y
I am also from Staten Island but the prices are from $300,000 and up REO. and you have to paid cash. only those who are in the business for long time can paid it cash.....Look into PA. is good and the prices are withing range that you are looking, just look a town like Allentown PA. So far I have 3 rental properties and I am going for my 4th one.
Real Estate Agent · Bethlehem, PA · Member since 2016 · 64 posts · 51 votes
7y
Hi @Vanessa Hernandez, I'll second @Elvis Maldonado's comment above. I work and invest in the LehighValley and we have a number of investors who come to our market for the price point, taxes, and friendlier landlord laws. I'd be happy to try and answer any questions you may have, just let me know.
Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
7y
@Vanessa Hernandez One NY investor to another. Develop some metrics that make sense for you. When I began, I was looking for a market that had low cost of entry, favorable landlord tenant laws and price to rent ration around 2-3%. All the best to you. Persist and you will WIN!!!
Hi @Vanessa Hernandez, I'll second @Elvis Maldonado's comment above. I work and invest in the LehighValley and we have a number of investors who come to our market for the price point, taxes, and friendlier landlord laws. I'd be happy to try and answer any questions you may have, just let me know.
well two questions i have for know is Are taxes that high in new jersey? and do i need a good credit score even though im buying cash on cash No Mortgage.?
Rental Property Investor · PA · Member since 2019 · 4 posts · 0 votes
7y
I don't know if I understand the question. the taxes in New Jersey are very High yes indeed they are. in PA is not compare in NY and NJ. If you going to buy Cash you don't need your credit History or Score. venesa find me in facebook we can talk more
Investor · Tampa, FL · Member since 2013 · 2k+ posts · 1k+ votes
7y
@Vanessa Hernandez anyone on BiggerPockets who puts out a blanket statement that NJ taxes are high in my opinion are not looking at the overall picture of what NJ income properties can bring to the table. You need to do your research. Is the northern NJ market in most cases more expensive? Yes of course. Barrier to entry are high. But my opinion that is a good thing. We're in a saturated market. We have greater stability and overall a much greater demand long term due to our proximity to Manhattan and the jobs which are there. Look at the rents here too. You'll see they're higher than average as well, offsetting the higher taxes.