Property Q&A in Ventnor City>Question Details

Richard Barr…, Both Buyer and Seller in 19462

Does this make a good investment property?

Asked by Richard Barrack, 19462 Thu Feb 12, 2009

I may want to use it if I do not rent it one day

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Hi Richard,

What is the sales price? What are monthly rents and expenses and how much is your down payment and mortgage/payments. I use a buy and hold formula that will tell me if it is a good investment. Or if you want you may call me directly and I'll plug the numbers in for you. Best wishes,

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0 votes Thank Flag Link Fri Feb 13, 2009
Yes it would make a good investment. However according to the South Jersey Shore MLS is is not for sale. One unit is crrently for rent, a winter rental for $1200. monthly.

Laura Giannotta
Keller Williams Atlantic Shore
0 votes Thank Flag Link Thu Feb 12, 2009
Richard the price looks right. Since this is a multi family home, most banks would view this as an investment property and not as 2nd home. So if you currently own a home then you would be required to put down at least 20% with a few points or 255 with a couple of points
0 votes Thank Flag Link Thu Feb 12, 2009
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