Is it possible to buy a property in NY/NJ area

Yes it is. I have several investor clients who are looking to do exactly what you are. In prime NYC neighborhoods, it is fairly difficult to find properties with positive cash flow after year 1 with maximum financing, but it is possible. Give me a call and I’d be happy to discuss with you.

Dan Gotlieb
Digs Realty Group
917-675-0037
www.digsrealtynyc.com

Hi Guys,

So is it possible for this to work?

Say that I am buying 900k APT.

I take a rent of $4000 a month.

And I have to pay monthly tax + maintenance + mortgage of $4000.

Can I just do $4000 - $4000 = $0 and break even?

Or should I pay tax on my $4000 income (which will be at 40%) and take $2400 and pay $4000 which will cause -$1600 of loss every month?

Also, how do I look for such property? Can I simply compare estimated monthly payment to streeteasy's active rental to see if they match? I am quite confused :$