All Forum Posts by: Account Closed

Thanks again @Jim Adrian & you're exactly right about the way this Cemesto was used.  It was applied in 4x8' sheets directly to the roof beams/framing.  In discussion with a few roofing companies in the area, this does seem to be a large project.  It sounds like you're right again, that the roof would need to be completely removed (to the beams), and exposed to the elements until the new roof was built.  One recommendation was to use a combination of plywood and sheet rock in place of the Cemesto, and then build the roof insulation and surface on top of this.

The more I learn, this seems to be in the ballpark of $30-$40K for the new roof alone (not to mention the asbestos abatement which I've received estimates for at around $20K).

I feel my only option would be to renegotiate with the seller, or as you say, be ready to walk away.  I do like this property quite a bit (specifically the lot and location), but this expense is adding up to much more than I'd budgeted to have the numbers make financial sense.

Thanks again for your very helpful input!

Thanks Jim Adrian - I appreciate your perspective here. From what I can see there is no active leaking, though there is staining that suggests leaks have occurred at some point(s) in the past. I haven't come across this roofing design before, but to clarify it appears the flat roof deck is composed of 1.5" Cemesto (covered with 5-ply tar and gravel). It appears this Cemesto material is the base, directly applied to the roof beams, resulting in painted Cemesto acting as the ceiling interior. It looks very nice and clean from an aesthetic standpoint, but the fact that the Cemesto material is on the interior in this way causes me to be more concerned - would you agree?

Again, thank you Desirae Putzier and Bill S. for your feedback here. This is very helpful for me as I'm navigating asbestos removal for the first time. I've been in touch with a few abatement companies here in the Westchester NY area, and will hopefully have more updates to share in the next few days. Depending upon the estimates, I'm planning to renegotiate with the sellers. I don't want to miss out on the home, but this is much more of an expense than I'd anticipated. I'm considering asking for 50% of the abatement costs to be reduced from the purchase price or perhaps closing costs. Thanks again!

Thanks so much for your thoughts Desirae Putzier and Bill S. - much appreciated. Your logic seems to be fairly aligned that the best approach would be to look for a long term solution (removal) rather than encapsulation. The issue is not only for the health and safety of inhabitants in the home short-term, but also that this issue will arise again when I go to sell down the line. Given this asbestos (Cemesto) material is currently being used as the roofing structure/ceiling, removal seems to be a very invasive project. Would this be something I should consult with an architectural firm or would a good roofing company suffice? Thanks again in advance for everyone's opinions here!

Hi BP! I recently looked at a 1950's home, and during our inspection it came to light that a material called "Cemesto" was used for the (flat) roofing structure. While the roof seems to be structurally sound, in researching this material it appears to contain asbestos. Has anyone had any experience with a home containing this material? I've discussed win a few roofing companies and have had mixed feedback. Some have recommended going the path of encapsulating the Cemesto material, while others have recommended completely removing and perhaps going the route of an asbestos abatement. Any thoughts or opinions would be greatly appreciated!

Hi there BP community! I'm close to reaching an agreement to purchase a single family home in the Briarcliff Manor / Ossining area of Westchester New York. This would become my primary residence, where I'd also be undergoing renovations as this home was built in 1950 and is currently in need of repair. My question for everyone kind enough to offer advice is two-fold: Does anyone have any recommendations on how I should perform an engineering inspection (pre-purchase)? For example, are there any specific criteria I should be looking for in his home inspector based upon your previous experience? Also - should I perhaps find a general contractor to do this inspection with me, who may then be my GC for the renovation project moving forward? I really appreciate any and all input - as well as any specific recommendations of inspectors and/or General Contractors in my area they've had positive experiences with. Thank you all in advance! Brian

Hey BP Community - this is my first post/question, and I want to thank everyone in advance for any advice you might have to offer!

I currently live in a small/studio condo (in Brooklyn, NY), that I purchased about 1.5 years ago.  My original intention had been to turn this into my first rental unit when I decided to move.  

Well, here I am already looking to up-size (a studio apartment will soon no longer be big enough). While running the numbers (with help from the BP Rental Calculator) I am no longer confident this would be an effective rental unit for me. It appears, after my mortgage/HOA and additional holding cost assumptions (vacancy/CAPEX/repairs etc.), my expected rental income would not be enough to generate a positive cash flow (but rather potentially ~$200 in the red).

It is also worth mentioning that the value of this property has risen substantially in the short time I've owned it.  It seems after closing costs etc, I would make a decent profit upon selling (based upon comps in my neighborhood).

Given the above, I assume it make more financial sense to sell this property as opposed to renting it (with the hope of eventual positive cash flow and/or increased property value later down the road)?  

Additionally, are there any cost savings opportunities or efficiencies I should be aware of if I were to sell and purchase a home in "one step".  For example, are there ways to save on realtor fees in this instance (perhaps by working with one realtor for both transactions)?

Thanks again in advance for any advice/thoughts!

Brian