John, that's a cheap shot. Sounds like you're saying that I'm not being truthful with this question.
Why wouldn't I take advantage of cash cows? Can you buy every great deal that passes your way? No. I didn't think so, either.
I have bought my share of cash cows. As far as my clients are concerned, I consider a cash cow something that sold for $200K+ just 4 years ago and now get's bought for $60K, rents out for $1400/mo with no HOA. That's a good deal.
Bank repairs will and do happen when there are serious mold issues, roof leaks and the price of the property is high. The bank still wants to protect their investment.
Balaji, if John 'seriously doubts a cash cow' will fall into your lap, maybe you need to come to FL and forget about investing in NJ. It's happening every day down here.
Scott Miller, Realty Associates, Boca Raton, FL