All Forum Posts by: Account Closed

Hello All,

I am a newbie investor from NJ. I rented out a condo there and am not too happy with the cash flow numbers ( taxes/ hoa!)

I live in Jersey and commute to stroudsburg area for work.

My plan is to invest in a rental property each other in the range of 150-200k. I am a buy an hold investor. I am looking for an investor friendly realtor who ideally owns a couple investments themselves and could possibly connect me to a property manager as well.

Thank you.

Good points. Thanks people.

wow. I actually do not mind a net zero cash flow as I have a w2 income at current time.

I was hoping to see if in a couple years after my tenants pay the property off.

@micheal Lee- 

Thank you.

Yes I was primarily a residence that got converted to a rental.

I do have a W2 job, so I am not dependent on the cash flow, but a positive cash flow would still be nice.

I should probably pay off more of principal/interest for cash flow.

Do I really need to save for CAPEX despite paying monthly for american home shield.

@Brian Cox Thank you, 

but I live far away and need to property to be managed by an agent. 

Also, Do I really need to save for CAPEX despite paying monthly for american home shield.

Hello All, I am a newbie in these forums and bought my 1st condo investment property in central Jersey. Lived in it for a year and then rented out.

Here are the numbers

Its a 2br 2 ba 1100sqt condo with homeowners association.

Incoming rent 1825

Operating expenses :

1. property tax- 416.mo

2. home insurance(farmers) -37/mo

3. Home warranty- 50/month (american home shield

4. HOA- 300/month

5. vacancy 5% - 90/month ( the property is in a high rental location, it got rented in a week.

6. Repairs 5% -90/month

7. Capex- not sure If I should allot for this ,as I am already paying american homeshield.

8. Property management 6 % : 108/month

9. Principal + interest 821.15/mo

Total expenses come to 1912.15 $

As you can see, not much cash flow- infact going negative.

Any comments on my situation. What can I modify to be in a better cash flow situation.

Also , I have a W2 job, so i dont depend on the cash flow from rental- it would be still nice to have a positive cash flow.

Any and All advice would be appreciated.

Thanks.

Hello All, I am a newbie in these forums and bought my 1st condo investment property in central Jersey. Lived in it for a year and then rented out.

Here are the numbers 

Its a 2br 2 ba 1100sqt condo with homeowners association. 

Incoming rent 1825

Operating expenses : 

1. property tax- 416.mo

2. home insurance(farmers) -37/mo

3.  Home warranty- 50/month (american home shield

4. HOA- 300/month

5. vacancy 5% - 90/month ( the property is in a high rental location, it got rented in a week.

6. Repairs 5% -90/month

7. Capex- not sure If I should allot for this ,as I am already paying american homeshield.

8.  Property management 6 % : 108/month

9. Principal + interest 821.15/mo

Total expenses come to 1912.15 $

As you can see, not much cash flow- infact going negative. 

Any comments on my situation. What can I modify to be in a better cash flow situation. 

Also , I have a W2 job, so i dont depend on the cash flow from rental- it would be still nice to have a positive cash flow.

Any and All advice  would be appreciated.

Thanks.