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Old 10-05-2007, 12:26 PM
 
2 posts, read 7,837 times
Reputation: 10

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Looking for some investment properties in Jersey City / Hoboken area.
Also we may be interested in New Brunswick area too.
We are 3 friends who want to invest in some positive cash flow rental building.
Approx down payment that we can afford is about 200k.
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Old 10-05-2007, 02:03 PM
 
Location: MD
176 posts, read 172,805 times
Reputation: 32
I know the areas you are looking for seem a little far fetched but I have this one single family home on a half acre lot. It`s in Mahwah, NJ off of Route 17 and again it`s on a half acre lot so possibly you can build more on the lot. It`s a good investor buy. Let me know if it`s something you would be interested in to at least see. Again , it`s not my property but a very close friend of mine and she`s not even in the state. It`s vacant.
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Old 10-05-2007, 02:29 PM
 
2 posts, read 7,837 times
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Thanks Triniboy for the response. As you stated this seems to be a bit far from where we want to be. I will get back to you by next week
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Old 10-05-2007, 06:05 PM
 
2,541 posts, read 10,195,246 times
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Try masseyknakal.com or marcus and millichap's website, or just pick up one of the real estate books that have all the listings.
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Old 10-05-2007, 08:29 PM
 
Location: MD
176 posts, read 172,805 times
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Send me a private message as I am not always in this room because I`m in the Maryland room and so is the seller. She resides in MD as well so please contact me if you`d like to see it and I can arrange that.
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Old 10-05-2007, 11:55 PM
 
562 posts, read 2,375,039 times
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as an investor myself.. JC and Hoboken are very expensive.. really doubt that 200k down will be enough to get you a positive cash flow.. you may want to start with a 2 family house..
Personally I invested in Elizabeth, b/c it has lots of potential.. and you get tax abatement when you purchase a new construction... the areas in Elmora, North Elizabeth, Westminister and even bayway rent quick.. for approx 1500-1700.. if you purchase a 2 NEW fam house for 500k w/ 200k down your mortgage will be somewhere about 2200k a month.. if you rent both apt your rent roll will be at least 3k.. you'll have a positive cash flow of 800. a month.. this is just an estimate from personal experience

and this will be worry free as all NEW CONSTRUCTIONS come with 10yr builders warranty.. so you won't have those headaches from maintaining an older home.. believe me repairs and remodeling of homes can be expensive and tiring.. I have an older home which is pain to maintain sometimes.. and then i have a new construction.. which needs little maintenance..

well this is just my opinion.. good luck!
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Old 10-06-2007, 09:04 AM
 
Location: MD
176 posts, read 172,805 times
Reputation: 32
Quote:
Originally Posted by jstar41 View Post
as an investor myself.. JC and Hoboken are very expensive.. really doubt that 200k down will be enough to get you a positive cash flow.. you may want to start with a 2 family house..
Personally I invested in Elizabeth, b/c it has lots of potential.. and you get tax abatement when you purchase a new construction... the areas in Elmora, North Elizabeth, Westminister and even bayway rent quick.. for approx 1500-1700.. if you purchase a 2 NEW fam house for 500k w/ 200k down your mortgage will be somewhere about 2200k a month.. if you rent both apt your rent roll will be at least 3k.. you'll have a positive cash flow of 800. a month.. this is just an estimate from personal experience

and this will be worry free as all NEW CONSTRUCTIONS come with 10yr builders warranty.. so you won't have those headaches from maintaining an older home.. believe me repairs and remodeling of homes can be expensive and tiring.. I have an older home which is pain to maintain sometimes.. and then i have a new construction.. which needs little maintenance..

well this is just my opinion.. good luck!
Hey Jstar, would you be interested in purchasing investment property in Mahwah? It`s a split level on half acre which was apprised for 500K but the asking price is 485,000. It`s already on the MLS database but my friend who is the owner would prefer a cash or investor to purchase. Please let me know if you would like to see at least. Thanks.
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Old 10-06-2007, 01:03 PM
 
Location: New Jersey
1,508 posts, read 5,385,908 times
Reputation: 1418
Default Check

Check your Direct Messages- I sent you a note.
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Old 10-06-2007, 08:30 PM
 
Location: MD
176 posts, read 172,805 times
Reputation: 32
Quote:
Originally Posted by NewHomeHappy View Post
Check your Direct Messages- I sent you a note.
Were you talking to me NewHomeHappy?
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Old 10-07-2007, 02:48 PM
 
Location: New Jersey
1,508 posts, read 5,385,908 times
Reputation: 1418
Default No

Quote:
Originally Posted by triniboy View Post
Were you talking to me NewHomeHappy?
Speaking to the OP
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