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What is the best area to buy rentals within driving distance of NYC?

Posted by John Smith on October 7, 2012 at 7:27pm
Hello,I live in NYC but cannot afford to buy rental properties due to the high cost of housing. I have 30-40k cash to invest (willing to take out a purchase loan). What area would you recommend I explore that is within a two hour driving distance to NYC?My criteria..-Area that will have dependendable rent demand (I only care about cashflow and am willing to hold the property for at least 5years).-Conservatively project 10% cash on cash returns with use of a property management company-Would like to purchase construction built after 1975-Do not want HOA or community fees.

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Replies

  • Hardmoney
    Joel Kraut March 2, 2013 at 5:54pm

    Passaic, Bayonne, New Brunswick, Perth Amboy....for a few

  • Adam Black February 12, 2013 at 9:30pm

    check out allentown PA, phili and Newark NJ

    good luck

  • Eric Einholz January 24, 2013 at 9:18pm

    Want to partner on deal where you can get 10% cash on cash??  

    No property management for you.

  • John Carscadden October 12, 2012 at 11:53am

    Hi John,

    I've got a property in Keyport NJ that I'm looking to sell.  It's a 2 family home about 40-45 minutes from Manhattan and 10-15 minutes from Staten Island.  Just sent you a friend request.  If you want more details.  Feel free to email or call.

    Regards,

    John

    jcadden77@gmail.com

    (908) 902-0150

  • Eric Einholz October 8, 2012 at 3:49pm

    Is your name really John Smith??

This reply was deleted.

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