buying a 2 - 3 family house hack in north nj good or bad investme
Hey everyone I am waiting until April to buy a 2 family house hack the property looking to buy a fixer-upper to add equity and get a decent cash flow after 750 to 1200 net, I am in between staying or leaving to buy a place in Houston Texas since its growing now with trump tax bill capping to 10k will it be worth it to buy.
what am I looking for? whats my plan?
I am trying to find a short sale or foreclosure with FHA to buy than get a 203k loan than live in one unit and rent the rest out for a goal of net 750 to 1200, equity to have 25k to 35k in the property, i have 40k cash for it could get access for more but I don't wanna tie up too much I want to leverage my funds. I am from Paterson, i don't want to invest here but worst case i might if I can get it cheap/ now i know the supply is limited i understand that but i wouldn't want to overpay for a property cause you will be in the red already. cash flow is more important to me, i will form an LLC when buying the property. with high taxes will buying a property here to house hack make sense still? any investors making 750 to 1200 net per month can you give me your experience?