Posted by Richard Ragon on May 26, 2000 at 13:14:52:
>>You might not have a positive cash flow here. Get our expenses nailed down to see how you would come out. On a 2 unit, which is basically what you have, I’d want at least $300/mo. going into my pocket after expenses.
Ok, I’ll keep this in mind. Maybe we could get the house down a lot more, I can offer to take “as-is”, and the seller knows that there’s some fixing up too do… And I really sense that they do not want to do it…
>>Saying that, you might want to approach this property diffently. Check with zoning. Can the two houses be seperated. The two seperate houses should sell for more individually than as a package.
I’ll check into it. I think I heard the owner tell me that the house in the back, built years before, didn’t have zoning… Or there was some kind of problem maybe, because it was built so long ago, there were no permits on record of it. I wonder how one would go in looking into this… Perhaps a property profile report from the local title co.