All Forum Posts by: Milos Cejkov

@Ronny Tiburcio thank you so much for your input! I really appreciate it!

Thank you all for your input! I really appreciate it. Your replies are really helpful. I personally thought the property price is too high. I am new to BP and wanted to share my find with you.

@Clark Kirkpatrick thank you for your advice. I will definitely look into PA area. One problem that I noticed with the NJ market is that a larger number of duplexes are old (charging lower rent), but sellers want premium price. I think the seller has owned this particular property for a long time, so they were able to take an advantage of cash flow and now the appreciation when they sell the property.

I recently found a duplex in a desirable area of Bergen County. Upstairs units is 1 bdrm/1 bath and the current tenant has been living there for 10+ years. The unit rents $1100 a month, which seems to be under the fair market value. The downstairs unit is a 2 bdrm/1 bath and rents for $1800 a month. The unit is also tenant occupied. I think the duplex is in a good area, easily accessible to trains, grocery stores, restaurants, etc. The seller is currently asking for ~$520k. I would appreciate any input regarding the price, things to consider when looking at a property, etc. My wife and I are currently looking for our first property!