Just made my first offer on a 2-family property in NJ

[Josh Thompson]

I have just submitted my first offer and am curious on what the community thinks of the deal. The property is a 2 family house in Berkeley NJ. I made an offer of 215000 with seller concessions. Im putting 3.5% down and all in PITI should cost about $1970 per month. The property has separate meters. It has a 3 bedroom 2 bath apartment with 2 nice sized rooms for an office and/or dining room. It should rent for around 1600 per month. The other unit is an efficiency suite which i would occupy for a while because of the FHA loan. Once I move out and rent it, it should go for 700-900 per month. The property has been recently been redone and needs basically no work. So if my numbers are correct the property should cost me $400 a month if i can keep renters in the 3 bedroom. Once i move out and rent both units the income will be $2300-2400 a month, leaving 400 for repairs, maintenance, vacancy, etc...

I know the numbers are not extraordinary but would you consider this a good opportunity for someone eager to get a first deal and gain some experience?