When all the MLS deals have no cashflow...

[Andrew Kuiken]

Hello BP!

I have spent the last few months analyzing many deals that I'm getting from MLS. In the Northern NJ area, it seems that many deals after accounting for taxes, capex, mortgage, etc all have almost no cashflow based on the expected rentals and the costs of the house.

I think I had a realization the other day that I may just need to start putting in offers at a price that makes sense, but here where prices are significantly higher than other parts of the country, looking to cut off 100-300k off the asking price to make something cashflow doesn't seem like it would fly.  

Anyone have any advice that can help me to change my approach to finding the deals?

Andrew