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Updated 11 months ago,

User Stats

21
Posts
6
Votes
Wilson Feliciano
Pro Member
  • New to Real Estate
  • New Jersey
6
Votes |
21
Posts

My First Multi Family Unit

Wilson Feliciano
Pro Member
  • New to Real Estate
  • New Jersey
Posted

So I believe I found a multi family unit in Essex County, New Jersey. This three level multi family property has potential, with 2 bedrooms on the first floor and 4 bedrooms on the second, and it has a finish basement with a bathroom. Now I notice it had some leaking in the 1st floor bathroom coming from the 2nd floor, which seller made it seem like it was small leak coming from alleged old bath tub. Then I notice a part of the house with water stains on the ceiling. When I questioned it , seller stated that there was a satellite dish that was screwed on to the roof and that it could've created a hole were water is leaking through "allegedly" 


Should I be concerned ? Should I put a low offer to help compensate for the potential repairs that are not clear yet until the house is inspected ? Or should I not bother. 

Asking price is 575k 

Potential Rent Roll:

1st FL: 2,000

2nd FL: 2800

  • Wilson Feliciano
  • Loading replies...