All Forum Posts by: Philippe Schulligen
Philippe Schulligen has started 9 posts and replied 55 times.
Post: Cashflow in New Jersey?
- Investor
- Atlanta, GA
- Posts 57
- Votes 29
@Patrick Martone Based on @Sunny Burns input regarding taxes I did some research on http://www.nj.gov/dca/divisions/dlgs/resources/muni_stateaid.html
Here are the top towns with state tax aid in NNJ.
| Municipality | County | Total Aid (in %) |
| West New York Town | Hudson | 16.37507007 |
| Jersey City | Hudson | 10.66306517 |
| East Newark Borough | Hudson | 10.33334336 |
| Kearny Town | Hudson | 5.678665512 |
| Prospect Park Borough | Passaic | 4.752427831 |
| Garfield City | Bergen | 3.835086527 |
| Bayonne City | Hudson | 3.709005869 |
| North Bergen Township | Hudson | 3.207188838 |
Post: Purchasing property in NY/NJ
- Investor
- Atlanta, GA
- Posts 57
- Votes 29
Sharing with the community... I live in Fort Lee, NJ in a co-op which did not raise maintenance in at least the past 3 years, I am not saying these co-ops are common, but well-managed co-ops do exist.
FYI, I pay $1,300 of HOA for a 2 bed / 2 ba. apartment, all inclusive of utilities, taxes, some insurance (my own insurance is less than $40 per month), building management, maintenance, and doormen.
The value of the apartment is about $160K. I assume similar places that can be rented in the area are about $2,500, but unfortunately, the structure oh the co-op prevent to rent the apartments.
Post: Cashflow in New Jersey?
- Investor
- Atlanta, GA
- Posts 57
- Votes 29
Thank you to all of you for your answers!
Post: Cashflow in New Jersey?
- Investor
- Atlanta, GA
- Posts 57
- Votes 29
Originally posted by @Chris Masons:
Hii Philippi
Welcome to BP! While I can't make direct comparisons to NY or Connecticut I can say the compared to PA, NJ is definitely a bit more challenging to get a decent return on your invested capital. This is true for many reasons but the two biggest in my opinion are cost of properties and property taxes. Both are considerably higher in NJ as well as insurance.
That being said, this is not to say you can't get a good return in NJ you just may have to look around and be more picky. I live and invest in NJ and investing out of state is something I have no interest in.
Thanks and good luck! Are you looking to invest in NJ or out of state?
Thanks and good luck
Chris
Hi Chris.
Thank you for your answer. I look primarily for investing in NJ for proximity for my first property. But if the numbers don't add up, I will look out of state.
Thanks,
P.
Post: Cashflow in New Jersey?
- Investor
- Atlanta, GA
- Posts 57
- Votes 29
Hello BP members!
I live in Northern New Jersey and I am totally new at Real Estate Investing. I am eager to learn and make new connections with other investors to get out the rat race!
Could you please help me with the following questions?
In your experience, how does NJ compare with neighboring states (NY, CT, PA) and also the rest of the USA for:
(1) cash flow and appreciation of real estate?
(2) ease of making deals and being a landlord?
Best regards,
Philippe