If you get a mortgage, your rate will be 5-6% as this is an investment property. It may be a lot more if you don't have good credit. (You should look into this and find out what it would be for your particular situation).
If you believe you can get better than this 5-6% rate in the market, or will have the need for a large sum in the near future, then you should get a mortgage.
If you believe you will not need this money in the future, and don't plan on investing it, the rate you get in a bank today is less than 1%, In this instance it may be better to buy the property with cash. You can always buy with cash, and then open home an 'Equity Line of Credit' , which will give you access to some of the capital while not paying any interest if you are not using it.
Hope this helps Garrett
Best of Luck!
Equity Capital Real Estate
(203) 280 3838
Best of Luck.
Keller Williams Metropolitan
Again, I'm ready to help you find an acceptable property.
I would also advise you to discuss this with your accountant, since your particular set of circumstances could make a difference in the best option for you.
If you would like any help finding a property to purchase in Hudson County, please give me a call.
Reasons to get a mortgage
Tax benefits - mortgage interest falls into your itemized deductions.
Also with rates being at record lows it would only make sense to take a loan and find other things to do with your cash.
If you need help finding a place in the Jersey City area please let me know.