All Forum Posts by: Anthony C

Unfortunately that is what i'm up against here in NJ, unless I want to go ultra cheap and deal with poor, undocumented tennants. Btw, look at a picture of the house for $349k... see what I mean? It is in a great neighborhood though.
Since it is just an example, and not a house I am after, I will post the direct link for you to critique..

http://www.realtor.com/realestateandhomes-detail/2-N-Sunnycrest-Dr_Little-Silver_NJ_07739_M55179-65668

I'm not really looking for cash flow, more a way to get started in a stable neighborhood, possibly capture some appreciation over 5+ yrs but i'm not counting on that. The rental pool is nice family types looking for the good schools in the area. I was thinking this would be a less risky way for me to get started..I have gone over the math and realize if I did a 15yr mortgage I may only realize appreciation but i'm more looking to start slow and stable.

Does this not sound like a good way to get started? Can you please elaborate on the situation you described where $300k is yielding 10%?

Sorry, Yes my plan is to rent it, I would be putting approx 30-40% down, comp rents are $1800 to $2400. I'm looking to get my feet wet with a desirable neighborhood, quality tennants, possibly do some small upgrades and hold unless it made sense to sell

Based on numbers below only, considering the house is a small 3/1.5 cape, with very little to no updates since it's purchase in '97... where would you highly experienced SFH investors structure your bids? I know there are a lot of assumptions to make, but just assume the house needs a little TLC (landscape,paint,carpet,etc) to get in in rental condition.. i'm just trying to learn how you guys are getting deals these days. This is in a great neighborhood in central NJ, desirable area... but prices still seem high. I think if i got into this house, it's value would continue to drop..

is it just not a good time to purchase?

Price History
Date Description Price
02/22/2011 Price change * $349,900
12/11/2010 Listed for Sale * $389,000
10/13/1999 Sold $270,000

I would want to bid no more than $300k for this house, there's such a wide spread between buyers/sellers in this market it seems impossible for me to get started..
-AC