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All Forum Posts by: Ken Aronson

Ken Aronson has started 0 posts and replied 1 times.

New Jersey Real Estate Q&A Discussion Forum

Post: Starting out with a duplex in NJ

Ken AronsonPosted
  • Freehold, NJ
  • Posts 1
  • Votes 1

Awful deal. What are the taxes? I'm assuming very high in Bergen county. Your rental income wouldn't come close to covering your mortgage payment and taxes even if you put 25% down. Then there's everything else you need to pay for, insurance, repairs, lawn care etc... 

It took me two years to find a duplex in Monmouth county where the numbers worked and I'm clearing a nice monthly profit after all expenses. Wanted to buy another one but got into bidding wars where it didn't make sense. Been looking ever since and there's been nothing.

Bottom line... Do The Math. If you're not comfortably clearing a monthly profit don't do it. Doing nothing is the right decision if the numbers don't work.

1 Vote