Posted by JohnB_NJ on June 04, 2000 at 24:29:31:
Hmm, a fmv of $115k and an asking price of 135k. What will the expenses be on the triplex? does the landlord pay for heat and other utilities. What type of routine maintence has to be done (ie: lawn cutting and snow removal?).
Will this place cash flow after all expenses? After you calculate your NOI will you have enough left for debt service?
Joe, once you own the property you could sub off the land (check with the township zoning first before you purchase to see what type of variance is needed and what it will cost you)
Post more detailed numbers. and good luck
BTW, I am in south jersey as well. I invest in southern ocean county.
Drop me an email.