All Forum Posts by: Jose Almonte

So looking into single family homes in the $400K range.

Assuming $150K downpayment the mortgage payment comes out to $2300 rounded.

Property tax is usually around $6300 a year rounded. $525 a month.

Zillow rent estimator predicts $3000/month

I’m not looking to cash flow much year 1. But I’d like to be cash flow positive even if minimal.

The real goal is capital gain, and future cash out refinance.

It all comes down to utilities, and insurance. Who pays for utilities in NJ? The landlord or the tenant? Thanks.

So looking into single family homes in the $400K range. 

Assuming $150K downpayment the mortgage payment comes out to $2300 rounded. 

Property tax is usually around $6300 a year rounded. $525 a month. 

Zillow rent estimator predicts $3000/month 

I’m not looking to cash flow much year 1. But I’d like to be cash flow positive even if minimal. 

The real goal is capital gain, and future cash out refinance. 

It all comes down to utilities, and insurance. Who pays for utilities in NJ? The landlord or the tenant? Thanks. 

Please excuse me if this is a dumb question. But how do you know what to take out every month from the bank account once the rent checks are deposited? 

Let’s say hypothetically the P/I is $8000, the property tax is $30,000 (divided into 4 payments), and insurance is $4000 (one time a year), and the expected random maintenance  is $2000 annually? 

Rent deposits are $12,000 a month. 

Thanks.


It becomes confusing as to what to leave in the bank account for future property tax due/Insurance/maintenence once mortgage is taken account. 

What is the formula? What am I not seeing? I’m