How do you buy? Numbers don't work out.

[Assaf Kehati]

I'm thinking to buy an apartment instead of renting one in Brooklyn. One direction was to hack housing, which is to buy a 2 family house and live in one of the units and rent the other unit. But, it's really hard for me to see how the numbers work out. 

Let's say for a one bedroom apartment in Brooklyn you pay around $1200-$1500 (around Prospect Park area). Then, if you buy an apartment (not even talking about the 2 family house) it will cost you $250-$300K. Only for mortgage you will pay around $1000 a month, on top of that you will pay insurance, taxes, repairs, utilities, and attorney fees, etc. Maybe I don't see how the numbers work, but something doesn't make sense. 

I'm trying to look for an option with positive cash flow but it looks like it's better to rent then do buy. Still, I do want to get into the market of buying a property, and buy one every year, but it looks not possible numbers wise. 

Anything I am missing in my calculations? Would love to hear your thoughts! 

Thank you!