Do you invest in south Jersey? Casually looked at some properties online and the pricing and rent is actually somewhat appealing in Camden and Gloucester County with decent schools… Might even have a little cashflow with current rates.
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I read an article about that foreign tax and there’s so many loopholes that no one actually pays it. I’ll try and find it and I think it’s 25%
Basically you just partner with a Canadian citizen
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Interesting – Don’t have any ties to Canada (aside from random trips) so didn’t look into it too much, but can’t say I’m that surprised. Makes sense why housing prices are still strong there.
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I believe you can’t do a fixed 30 year mortgage there either so lots of rates are about to reset. Could cause some major ripples.
How Canada is not like the United States: Home mortgage edition.
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Yes I do! Properties in Cumberland and Burlington Counties. Some properties can still cashflow pretty well. I don’t recommend Camden or Gloucester due to higher than average taxes in SJ. Whatever you do, don’t be seduced by the high cap rates of Salem NJ. So many NYC people get seduced not knowing what that market is.
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Yeah – I believe the US is the only country that has 30 year fixed government backed mortgages. Most other countries are ARMs or more cash based.
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Wouldn’t really consider Salem County anyways – A bit too far from a major city for me 
Does it sound right that Camden county is around 2.5% property tax vs 2% in Burlington County? Does NJ reassess tax value when selling (or could listed property taxes be lower because of homestead exemption or property tax increase caps)? How are property insurance rates?
Seems like a promising area and prices are honestly a lot cheaper (and rents higher) than I expected.
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When you’re so rich you buy a condo for your car!
Maybe I should buy something in Cumberland County so I can register my $8000 one-pay RS Etron GT there?
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I prefer Burlington County over almost every other county in NJ for RE (especially if you’re a NYer). You get good schools with easy access to Philadelphia and NYC which means that as people get priced out of NNJ and NYC, they’ll move to Burlington County. Commuting twice a week to NYC from Burlington County is possible but very difficult if you’re living in Cumberland/cape may/salem county. Also the politics are moderate which is also good in terms of real estate (no one is moving away from here because of politics). There’s also a variety of economic drivers vs cape may or atlantic county. And with the lower barrier of entry, I expect more appreciation and cash flow vs other parts of the state.
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Thanks for the info, very helpful. Looking into Burlington county too now. Officially we’re Texans, but tough to cashflow anything here that meets my criteria
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Mount holly Medford marlton areas don’t have terrible taxes, schools are good and looks to be a huge shortage of sfr available. I can’t seem to make the numbers work after looking for 10 mins but maybe I’m just greedy. 5% caps just don’t do it for me
I’d need around 4k to make something like this work for me and market looks to be in the low 3s. If rates do drop I could see making 100k in appreciation in 5 years though. Good curb appeal too.
I hate looking at rentals in my home area. I live in 1200sq ft condo but could get a 4000sq fr house there for the same price.
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You’re getting way more than 5% cap in that area. If you aren’t you screwed up. I just helped a client close 2 weeks ago and he’s getting 8% easily. I can find 10 caps every once in a while myself.
Also wanna move to SJ? I know an excellent Realtor here. Cough ME Cough But seriously, though I’m too lazy to work hard for leads so semi retirement it is!
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What do you think about that landscaping? I don’t know a ton about it, but one source I know says you should refrain from having such a variety, and stick to 1-2 different types. But it also seems “mature”, and he seems to think that’s good.
Not amazing numbers, but significantly better than what I’d get in TX nowadays 
Near one of the rentals I have… $490k list 4/2/2 with ~2100sqft, I’d only get around $2600 in rent.
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Landscaping is mehhh. It looks nice but requires a lot of work. That kitchen layout is godawful. And that roof is probably older as well. That driveway needs work. That bathrooms aren’t great either.
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https://www.zillow.com/homedetails/1714-Ralston-Dr-Mount-Laurel-NJ-08054/2078440295_zpid/
Take a look at this. 250k and you get around 2.3k a month. Taxes are 3k, HOA is 2k, and insurance is 1k. 8.64% cap. Obviously with maintenance and other BS, it’ll be around 8% cap but you’re in a class B area in a town where the residents care about schools, close to the NJTP and only 20 minutes from downtown Philly. Major employers include Lockheed Martin. MDL. and multiple hospitals.
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https://www.zillow.com/homedetails/2-Sherry-Ann-Dr-Lumberton-NJ-08048/38111540_zpid/
This one is so much better, it is corporately owned so that’s probably why it’s been sitting for a while. Most houses like these fly off the market like 911 GT3 at MSRP.
What do you think that would rent for? Zillow rent estimate seems a bit low for numbers to work, but then again, its Zillow numbers