All Forum Posts by: Larry K.

Welcome James. Anything you need to know can be found right here on BP. You are in the right place. 

@Thomas Watson

Welcome Thomas and good luck. It sounds like you are on the right track

I suppose it would be having a property that drains you every month. 

or having a tenant who won't pay and won't leave

Hello Daniel and welcome. There are NYC area meet ups.  I am sure you can search them then come to one. They are usually held in midtown New York City.  For those held in New Jersey, I not seen. If there's anything I can help you with please feel free to contact me.

I think the buy and hold v rehab question is best answered by your income and job situation. 

If you have a good job you like then buy and hold can work. If you need the money to sustain then the money from buy and hold is slow, it is long term play, so you would then probably want to rehab.

@Diana Tian

I believe the upside to higher taxes is they correlate to higher appreciation.

The way I see it North Jersey has great schools and that is the reason for the high taxes. Most of the tax money goes to the schools.  Those with good jobs who get bonuses and increases want to be in these school districts so their children can get a top education without going to private school.  High salary earners from NYC (or outskirts) have high chances of increasing their salaries which means rent growth and appreciation.

@Sylvia Hanna

Welcome. Hoboken is great. I lived there for 6 years. Good luck with all. Let me know if I can help.

I'll be there. If anyone else is interested, let me know and we can meet.

10 Main St. Hackensack. 2:00

@Steve Buchanan

If its ready I would put on the market but know your might get better prices in spring.

Also consider you pay less taxes if you sell the property after you have owned it for a year

@Sal Phelps

Hi Sal welcome. I've been active for a few years now in North Jersey. Let me know if I can help you in any way.