New North Jersey Investor.. Need Advice!

[Matthew McConville]

Hi All!  My name is Matt and I'm new the world of real estate investing.  I've been listening to the BP podcasts for the last couple of months now, have read several books including Set For Life and The Book on Real Estate Investing.  I'm from northern NJ and have been looking for a house hack for the last few months and am finding it extremely difficult to find something where the numbers make sense (using BP's rental property calculator).  Has anyone had similar problems?  For those who invest in the area, what percentages do you usually use when determining maintenance, capital expenditures, vacancy rates, etc.  Any input is greatly appreciated!

-Matt 

[Alex Deacon]

@Matthew McConville it depends on the property. If its 10 years old then your repairs should be less. if the investment is old and needs work to begin with then budget higher. If you are having a hard time making the numbers work then you are doing something right. Its hard to find a good property. If it was easy we wouldnt have BP.