I recently connected with a local investor who has 20+ years in construction and uses private money to buy properties.

Hi, I was looking for cash flow in North-East New Jersey in rental properties, but at the max I reach at 0 cash flow.For example in Bayonne typical two family home(3 bed 2 bath each family) cost around $500K, taxes around 16K, rent around $1700/family. so after mortgage(20% down) , so total income is around $3400 also same is mortgage premium.other option is  private lending where you can earn around 10% per year minimum.also considering the point that home prices are all time high right now.Can somebody share their example of cash flow in area like Jersey city, Bayonne, Newark,union etc.

I am planning to use a private lender to fund the project in cash.

Respond to posts and get involved in the conversations. 

I’m currently working with a private lender for the properties to invest in and with a partnership to help with the rehab I’m confident we both can make this successful.

You may find a private lender willing to lend differently but if you want a traditional loan you may have to distribute more of the business income instead of leaving it in the S Corp.I would also make it clear that you own the business and only earn a salary for compliance purposes.

HOA is $175 per month.This property is in a great location... located in a large urban park in a historic neighborhood currently undergoing serious gentrification (hundreds of millions in multiple residential/commercial  developments all over the neighborhood, both city and private money).

I saw a slight increase in my policy and just looking it over seeing appliance coverage and internal property coverage.. i assumed it was correct... turned out it wasnt and initially they declined my claim, but i hired a lawyer and kept track of the info like the person i talked to, date, time and such and they managed to go back and find the recording of the conversation and then accepted my claim, but they truly fought me tooth and nail on the amount.

Wire fraud is one of the first conversations Im having these days.

I purchased the Property January for $220,000 with a combination of hard Money 198,000 @ 9.5% + 2 pts.I have a private money loan @ 60,000 @ 8%.