Investing in a state with really high property taxes
I am currently looking at investing in New Jersey to buy and hold. However the property taxes are expensive and eat into a lot of the cash Flow, any other investors who deal with this have ideas?
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As a NJ resident for most of my life there are a number of advantages to living here. With the military and corporate jobs I've gotten around a lot so here's my take on NJ.
Property taxes are high in NJ that's why everyone moves out of state. It's the cost of living next to some of the most exciting cities on the planet NYC & Philly. All things are relative though, you can charge higher rents and if you're not looking in some of the more down neighborhoods you can find some interesting deals.
There are over 100 municipalities in NJ that have some sort of rent control legislation so before you invest you should look to the city hall before you pull the trigger on a purchase. Good luck