Cash Flow in NJ(North-East)

[Raj G.]

Hi, I was looking for cash flow in North-East New Jersey in rental properties, but at the max I reach at 0 cash flow.

For example in Bayonne typical two family home(3 bed 2 bath each family) cost around $500K, taxes around 16K, rent around $1700/family. so after mortgage(20% down) , so total income is around $3400 also same is mortgage premium.

other option is  private lending where you can earn around 10% per year minimum.

also considering the point that home prices are all time high right now.

Can somebody share their example of cash flow in area like Jersey city, Bayonne, Newark,union etc.

[Shawn Mcenteer]

@Raj G. once I move out of my current MFR I will be cash flowing almost 1k/door. 495k purchase. taxes 8300. unit2 2600 unit 1 2800. I put about 60k of work into property. It is tough to find deals that work turnkey but you can find properties that need work or can be improved to gain better rent.