Posted by Jeff M on February 27, 2002 at 11:18:04:
Bill:
I guess I am not making myself clear. My question is simply this:
Are there any special tax or other laws in New Jersey that make investing in New Jersey real estate either more risky or less desirable than investing in Pennsylvania real estate?
Thanks.
John or Bill - Special rules for NJ? - Posted by Jeff M
Posted by Jeff M on February 26, 2002 at 19:29:43:
John or Bill:
I am in suburban Philadelphia and am looking for commercial propereties to invest in. All of the properties that seem to work, value wise, are in New Jersey. Am I missing something? Are there special tax laws or other unusual circumstances that make NJ a riskier, or less valuable place to invest? Thanks in advance.
Re: John or Bill - Special rules for NJ? - Posted by William Bronchick
Posted by William Bronchick on February 26, 2002 at 22:10:34:
Yes - PA has a 3% transfer tax on properties!
Re: John or Bill - Special rules for NJ? - Posted by Jeff M
Posted by Jeff M on February 27, 2002 at 07:54:32:
Bill: Thanks for that bit of information, I was not aware of it. However, my question is about New Jersey laws. I keep looking for properties, and the only one’s I find that make sense, using Ray Alcorn’s Derivative Cap Rate evaluation, seem to be located in New Jersey! This fact makes me wonder if there is something about investing or owning Real Estate in New Jersey that makes it either more risky, or less desirable. Thanks again.
Jeff M