All Forum Posts by: Account Closed

Yavor, Termite damage it appears to be. May I ask the state the property is in? I would take pictures (do not destroy the area or expose to much).Call at least 2 other reputable inspectors in (that are licensed and "fully insured")to do an evaluation and provide you estimates for treatment if need be and a brief summary on any damage found.I had a similar problem on a property i was going to flip and one of the other inspectors i hired to check out the missed termite damage issues i found told me they had previously inspected the home and told the then homeowners all the issues but the homeowners (sellers to me) had a cheap company do a half arss job. Once i found out that information the selllers who covered up the termite damage ended up paying me big money for the repairs and inconviennece they caused me (could not rent out unit).

Then I would call the company you had do inspection and give him a chance to explain and fix the issue. Make sure you check out inspection report he gave you at time of inspection for all his disclaimers and limitations. DOCUMENT everything. I have seen a little termite damage exposed at baseboards but then the termites traveled up there "mud tubes" to eat a second floor bathrooms entire subfloor and floor joists. Again DOCUMENT EVERYTHING.

Thank you for your opinion JSCOTT. Unfortunately having been a victim by misrepresentation I believe a eye for an eye. Due diligence can suppress issues down the road but when fibbing (i am being nice) takes place be prepared for the worst. I know Middletown NJ very well. Mike go to the township and ask about the zoning and what permits were taken out and might still be outstanding. (NJ RIGHT TO KNOW LAW) they will have you fill out a simple form request. Yes you might be able to negotiate a lower price but NEVER think it is OK to have a 2 family in an area not zoned or grandfathered for one. The Building and inspections dept will make your life miserable if you are not conforming and if you ever put a tenant in there and get caught the legal repercussions could destroy you. Just my opinion.

Having been involved in the termite inspection and structural repair business thereof for many years in the north east united states I would agree with Mark B..... Maybe. Unfortunately termite damage can extend into the in areas that are not readily accessible (covered by sheet rock, paneling and such). I would get a copy of the "warranty" and look at the disclaimers. If there is a chance the damage extends into the home into these currently inaccessible areas you might want to ask for a further inspection to areas adjacent to the current damage/infestation. lastly, as a construction business owner the cost for most termite damage repairs is relatively cheap but for a non professional structural termite damage can be a huge expense and should be repaired and treated properly and never covered up as if found out about later legal repocussions could be substantial. Even years later.

Risk - Reward and caution. We get $100.00 per month for 1 car and $175.00 for a two car. Every home I buy with out garage I put one up (de-tached only) and create almost a second driveway lane as to not bother my home tenants if they do not want to rent it. This adds huge re sale value to properties in my neck of the woods (about 300%-400% return for this ticket item). Family members are contractors so the cost of building a garage is minimal about 7k for 28 x 28 X 14 high for everything Inc electric and cement floor (might not need nor offer electric to tenants but if I sell it it is there) so yes it adds about 20-30K to list price on re-sale.

I have the "garage/light storage only" tenant sign a commercial storage like lease indicating when they can enter it and what is not permissible such as storing hazardous waste, paint or repair cars and or etc. to include sec deposit and insurance/claims waiver. If there is hazardous waste left the county and state will go after them HARD. Send your tenants that left it one certified letter indicating this and they always come back and take everything !!! just sayin

I have had great success with this. I take run down single families on busy streets with high exposure near hospitals. I then renovate them where second floor is living area and the first floor is professional home office space (check your zoning rules and regs as some are very ambiguous). In some towns an "employee" of the home based business can live on the second floor and the first floor can be used as professional space. ex; I might sell the property to a Dr. whom puts there daughter in the second floor. Huge win win for me making cash on quick flip and the Dr for tax and exposure benefit (Sign even if small is great for MD marketing) and daughter has a relatively cheap place to live.

This works for Accts, home designers, Therapists, real estate professionals.....just about every profession where I am.

Usually the only limitation is % of home that can be used as office space and number of employees. Again very unclear rules in many areas here in NJ. Detached garages are not included in calculations in my area so I can rent them for x-tra income.

Do you want a home for free is how i look at it. Save the listing buy it as a two family as listed and advertised. If town gives you a problem sue the r/e agent and seller of the home for misrepresentation.