Potential deal - septic system

[Dawn Curry]

So my realtor approach me with this off market deal... $15k for 2 houses (same lot), but I was told it needs a new septic system — he said the owner has not gotten the septic pumped in 40 years!!! After hearing this, I thought of a complete dump! Well a few hours later, I rode by the property and it’s not in that bad of shape - from the outside! My wife and I, if we proceeded with the deal, would buy in cash then refinance - it would add to our buy and hold portfolio. I called a local septic guy to get an approx. price on both pumping and installing new. My question is... who has had experience with septic systems? Good, bad, ugly?

[Andy R.]

If you are replacing the entire septic in Nj on a home you would be looking at 45k for a sand mound system and new tanks. If you have two homes on one lot you will be closer to the 65k range. I have two homes on one lot which needs a septic. The engineer said there is no issue with both homes using one septic on one property as long as its sized properly. They would require their own holding tank but will use the same pumping tank and drain field.