Am I doing something wrong? Analyzing rental properties

[Russell Goldenbroit]

Hi

Newbie here looking into first rental properties.  I live in the NYC area and grew up in the NJ area. I have been looking into properties I can buy and rent out and I'm using the rental calculator on here for some analysis. No matter what property I look at (whether 400,000, 600,000, 800,000 etc) the going rental prices in the area are far lower than the expenses I would pay (thousands per month). As such, with 20% down it looks like I'd be losing thousands per month no matter which rental I choose to buy.  Any locals around Jersey city have any ideas why this may be the case?

Thanks

[Nicholas L.]

@Russell Goldenbroit

that's just how the market is right now - sounds like you're doing everything right! list prices have not yet come down enough to offset the interest rate rise. so if you're picking out a random, high priced property listed on the MLS, it probably won't cash flow.