All Forum Posts by: Diana Tian

@Jonathan Studdard usually for investments, lenders require 25% or higher downpayment; for complex, maybe ever higher downpayment (like 30%). if you do BRRR, you could put down 20%. I saw banks do 15% without PMI.

I don't have much experience with apartment complex. for the multiple family I own, the valuation is dependent on the Cash flow or CAP rate, and comparables. But SFP's prices are heavily replying comparables - similar house price nearby.

it is very hard to say to tell the immediate cash flow. every area is different. For any buy and hold deals, I am okay with 10% cash on cash return. If I invest $100k, I am expecting $10k per year ($800 / month). I know people get 20%.

@Angelique Diaz Thank you! this is really helpful. 

But I don't think Bayonne will be Jersey City soon. It takes a long time for a city to change. The high rise buildings started in Jersey city, late 90s in Newport area and then exchange place in early 2000s. 

@Angelique Diaz Bayonne is big. Would you think there is differences in areas? Recently, I have heard people mention Bayonne a lot. I am looking to learn more about it. 

@Prem Schoff  I think housing hack is one of the best ways to reduce living cost. For primary home, I like the area close to James J. Braddock Park. The houses there are very well maintained. 

Do you know any Architect recommendation who has experience in Jersey city, hoboken, weehawken and union city? I am looking to remodel 2 family house. 

@Miguel Cohecha 

i would agree with @Patrice Penda.  Weehawken by the waterfront is a very nice place to live. it has high end amenities and offers high life qualities. but for investment, there are two majors things to consider: cash flow and appreciation. 

the high end condos have high HOA fees and high taxes. your expected monthly cash flow may be very low or even negative. from the appreciation perspective, the housing market has increased a lot for the past 6 years. betting on the more appreciation in short term is speculation.

if you like the area and want to purchase it as investment, the question you may want to ask yourself is if you are willing to keep the place for > 5 years, based on the estimated cash flow. 

You may also be interested in places near union city, like west New York, guttenberg and north Bergen. 

@Brittany D. I think in general rent doesn't vary a lot for 2bed 1 bath in a 2 family house. for okay condition, it ranges from 1400 to 1900 ...even though the house prices may be very different. I would be more concerned about the tenants. the population that lives in the neighborhood would be an indicator for your future tenants. you may be able to find places in north bergen (west of jersey city or union city part ) for that price range. the commute to the city is good: you could take buses on JFK blvd for ~30mins. 

@Andrew Merewitz it depends what area you are looking at. it is rare in downtown, journal square and heights. for that budget, you could find decent places in west bergen, bergen-lafeyatte, and Greenville, sometimes Mc Ginley Square.