All Forum Posts by: Christopher Castiglia

Hey Bigger Pockets!

I just found a triplex in Elizabeth, NJ that I am considering making an offer on.  The property in question has a sizable parking lot in the back, and I am considering renting out some spaces to non-tenants.  Does anyone know if this practice is:

1. Legal in Elizabeth, NJ

2. What permitting (if any) may be needed if it is legal

I appreciate any insight into this!

-CJ

@Angel M.

Great to meet an investor who is doing exactly what I am looking to do, and in exactly the same place!

Thanks so much for your help and advice.

I definitely plan on taking care of snow/lawn myself while I live there, and am including these costs in my analysis because, long-term, I will want to be less hands on when I move out.  Your advice on both is very helpful.

For electric and gas, I am seeing all over that it is popular in the area for tenants to pay their own.

CapEx is definitely tough, and I will be trying to estimate this as accurately as possible with the big ticket items. May I ask how much you budgeted for CapEx on your properties?

Thanks again!

-CJ

Hello BP Community,

I am a first time poster, and excited to start connecting with some other investors!

Currently, I am analyzing small multifamily properties in Elizabeth, NJ (particularly northern Elizabeth where the neighborhood is a bit nicer), and striving to house hack by living in one of the units and renting the others.  I am searching for insight on some average costs I might expect in the following categories:

1. Water

2. Sewage

3. Garbage

4. Snow Removal

5. Lawn Care

6. CapEx (I recognize this one could be particularly tough, but any advice would be helpful!)

P.S. I am very green (looking to invest in my first property), so please excuse me if any of these are obvious questions.

Thank you in advance for the assistance!

-CJ