Triplex in New Jersey

[Steven Primiano]

Hi all,

I'm starting my wholesaling business and, of course, am already coming across a tough situation to judge.  One of the owners I contacted doesn't want to sell his primary residence, but has a triplex in another town that is fully rented.  Assuming he was truthful when telling me the numbers, it would cash flow very well.  Problem is that it is in a D neighborhood.  Bad area, lots of crime.  So how do you handle this?  I can get proof of rental history and expenses from him, but how likely am I to be able to find an investor who will want a rental in a pretty bad area.  Is it worth pursuing and being up front about the issues with him or is this not worth my time?  If I move forward with him, what advice do you have so that I don't get stuck with a house I wouldn't want to visit?

Thanks,

Steve