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All Forum Posts by: Daniel Kurnath

Daniel Kurnath has started 1 posts and replied 2 times.

Buying & Selling Real Estate

Post: North Jersey and the 2% rule

Daniel KurnathPosted
  • Warwick, NY
  • Posts 2
  • Votes 0

Just to add a little bit more background, this would be a house hack. I am however evaluating properties both as house hacks and as a rentals only so I know how they will perform if I move into another property as a primary residence after a year has passed. I would probably be looking to finance with an FHA loan.

0 Votes
Buying & Selling Real Estate

Post: North Jersey and the 2% rule

Daniel KurnathPosted
  • Warwick, NY
  • Posts 2
  • Votes 0

I know that in certain markets expecting a 2% monthly rental/purchase price is unrealistic. I've been evaluating properties in North Jersey in towns like Wayne, Parsippany, Rutherford, Nutley, Summit, Cranford, Westfield, Montclair, Vernoa, and Weehawken. I don't see anything approaching 2%, what percentage do other investors in this area typically consider to be an acceptable monthly income/purchase ratio?

0 Votes