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All Forum Posts by: Mark Beekman

Mark Beekman has started 93 posts and replied 253 times.

Post: Bank (Seller) requesting dye test for vacant lot with sewer???

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

@Mitch VanDeveer

Thanks, Mitch. I'm going to check out the property right now to see if there's a clean out.

I just received another email from the closing agent saying that I should check with the Township to see if a dye test is necessary for resale (I don't think it is).

They also just now told me that a video sewer inspection is required for tax certification which, again, I'm unsure is necessary or even possible.

Post: Bank (Seller) requesting dye test for vacant lot with sewer???

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

I'm under contract for an REO residential lot that used to have a SFH on it. Apparently, the house was hit by a car and compromised its integrity so it was demolished. Right now I'm just looking To flip the land.

The property is 14,000 sq/ft with sewer & utilities at the street surrounded by very similar lots & houses in the neighborhood. No big surprises, I don't think, being that there was a house there not too long ago.

I was just contacted by the REO closing coordinator and he said that "a dye test is required for this property and it is the buyer's responsibility". There are no structures on this lot and even when there was it was serviced by public sewer at the street. Anyone have any suggestions on how to proceed?

Post: Flipping vacant residential lot -- What do I need?

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

@Dale Thomas

Hey, Dale. I was just contacted by the REO closing coordinator and he said that "a dye test is required for this property and it is the buyer's responsibility". There are no structures on this lot and even when there was it was serviced by public sewer at the street. Any suggestions on how to handle this?

Post: Flipping vacant residential lot -- What do I need?

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

Exactly the kind of information I was looking for! Thank you for that!

I will definitely be soliciting the neighbors, too.

Post: Flipping vacant residential lot -- What do I need?

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

I'm under contract for an REO residential lot that used to have a SFH on it. Apparently, the house was hit by a car and compromised its integrity so it was demolished.

I'm looking at simply flipping the land and was wondering what I should have done before listing it. A survey? If so, what kind?

The property is 14,000 sq/ft with sewer & utilities at the street surrounded by very similar lots & houses in the neighborhood. No big surprises, I don't think, being that there was a house there not too long ago. I just want to get my ducks in a row for resale.

Post: Staging Recommendations in Montgomery County PA

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

Sorry I can't be of any help, Percy, but have you found a good staging company yet?

Post: This condo is a S***hole -- Literally!

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18
Originally posted by @Orlando Paz:

My two primary concerns would be mold within walls and floor, and structural damage (rot) from past and present water damage. ServePro may be the solution for cleanup and mold remediation/removal, but you need to determine if the cost of such a service will be worth the effort.

 Thanks, Orlando.

Part of the problem is that I have to move quickly on this property and won't have time to get quotes on cleanup. I'm not sure whether to expect a $3k quote from a company like ServePro, or $30k. Hopefully someone can chime in who has used a cleanup service like ServePro.

Post: Sewer Backup in Condo

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

I'm looking at a 1,000 sq ft, one-level condo (2 beds, 2 baths). The condo was vacant for a month and sometime during that month there was a sewage backup. Now, all of the carpets in the unit are soaking wet, there's mold two feet up on every single wall, and there's literally crap everywhere.

My first question is, is a month or less enough time for sewage water to damage structural lumber? Anything can be cleaned, but structural damage is a different animal.

My next question is, what do cleanups like this cost usually? Assuming that the only damage is what I see, I have no idea if I should expect a $3k quote or a $30k quote.

Anything else I should be taking into consideration?

Post: This condo is a S***hole -- Literally!

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

I went to see an REO condo today and ALL of the carpets are wet, ALL of the walls have mold on them about two feet up from the floor, and there are sewer flies EVERYWHERE! And, yes, poop. Lots and lots of poop.

The condo was owned by a 63 year old woman who lived alone. She moved out and the house has been vacant for about a month. I can only assume that there was a sewer backup.

Leave it to me to see potential dollar signs in a poop-filled property, but I have a feeling the condition of this condo will weed out much of the competition.

My main question, though, is what kind of unforeseen damage can I expect? Is a month or less of sewage water enough to weaken structural lumber? I suppose a company like ServePro is the way to go for a cleanup like this. Anyone have any experience with them or any other advice on what I should take into consideration?

Post: Anyone have eviction experience in Montgomery County?

Mark BeekmanPosted
  • Investor
  • Phoenixville, PA
  • Posts 257
  • Votes 18

I'm about to pull the trigger on an occupied REO in Montgomery County. Anyone have any experience with evictions (cost, time, pitfalls)? The house is occupied by the previous owner.