All Forum Posts by: Menachem Bloom

@John Walter Thank you for the reply

@Ray Reed It's 5 residential units with 3 bedrooms each and 1 commercial unit

Thanksfor the rreply 

 If I put in new tenants can I raise the rent to $1,500

my friend wants me to invest together with him in a multifamily 6 unit building, 

is it a good deal?

income 

Unit 1 $1,400

Unit 2 $1,100

Unit 3 $1,100

Unit 4 $900

Unit 5 vacant

Unit 6 Vacant

Parking $200

Total Income as of today is $4,700 a month, with the other 2 vacant apartments renting for $1,100 each it will be a total income a month $6,900

(he claims that he can get from all apartments at least $1,500 a month)

taxes is about $10,000 a year

Purchase price is $670,000.00

is it a good deal? It's my first deal and I don't want to mess it up on my first deal

its in Elizabeth NJ 

should I do it?