Whats your criteria for buying a rental in NJ?

[Suril Dalal]

Listening to the most recent podcast from BP, it got me thinking about what criteria I should have in mind when looking at potential rental properties. Just off the top of my head, you'd think of the real estate thumb rules, like the 50% rule, the 2% rule, ect. I'd also say the area you're purchasing in, is it a big rental town, what are the avg rental costs for the property you're looking at? Even the costs of fixing things in your potential rental.

What are some things you guys look at? Whats your criteria for NJ?