General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago on . Most recent reply

Seeking advice - driveway encroachment
Hey all!
So my girlfriend and I have put a bid on a flip house however we haven't heard back from the selling agent yet. We are still looking at other potential buys.. Buy and hold or flips.. on the market. So that being said..
We came across this house (http://www.zillow.com/homedetails/71-New-Jersey-Ave-Pennsville-NJ-08070/39820766_zpid/).
Asking: $45,600
Bid: $20k
Rehab: $15k
ARV: $80-100k
We're looking to rent this property at about $1,000/month.
We haven't taken a tour inside the property yet, but I was wondering if anyone has come across encroachments when buying property? It says that there is a driveway encroachment. I know what hat means.. But I just don't know what will come out of that? Court? Tear it up? Fees? Fines?
I didn't know if this is something that I should be worried about, which would decrease our ROI? Or is this something minuscule?
Advice is appreciated!!!
Most Popular Reply
I don't know much about what you said, nor did I give it much thought, but a word of advice is never post a houze or property you want to buy someone will go put in a slightly higher offer and you'll lose the bid and property to someone else who you gave this property too just a heads up