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All Forum Posts by: Joe Cummings

Joe Cummings has started 32 posts and replied 330 times.

Post: Owner Financing Commercial/Industrial

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133

Didn't work out that well. It seemed to only bring in tire kickers and some sleeze bags who gave me the feeling they would mess up the property and then go bad on the morgage. It could probably be done if you had something in the contract to limit the uses and were able to inspect for violations. 

Seemed like more trouble than it was worth, so I sold some residential properties instead and am using the building 

Post: Owner Financing Commercial/Industrial

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133

I have a 9,000 sf truck terminal / shop on 2.65 acres I want to sell. I was thinking about financing the deal. Asking price would be about 250k. Does asking for 50k down seem unreasonable? Also I was wondering about limitations on property use in the finance agreement to deal with the potential that the buyer might cause environmental damage to the property.

I have never financed commercial property, so I'm open to any experienced investors advice on other concerns

Post: Anthracite Coal Heat in NE Pa - Cheap?

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133

It's all over up there. And it's cheap to burn. Almost pure carbon, burns real clean. Totally local product, very little transportation cost. Stoker technology is pretty good.  Ash, may or may not be a problem. Seems like "rice" is the size you want for the automated feed screw.

Post: Trash Hacking

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133
Originally posted by @Richard Dunlop:
Originally posted by @Joe Cummings:

I'd love to know what kind of drugs these people are on who not only take demo debris for free, but they even come pick it up.

 Meth 

I've seen apartment buildings where they stole the counter weights from the windows.

The value of scrap cast iron I think is about 4 cents per pound. 

 And while they are there picking up the stuff for free, they are casing the place for stuff to take when no one is around.

As a homeowner I have never even been asked if I rent or own for trash service.

If someone did, I'd just call a different trash company.

Post: Boiler Repairs

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133
Originally posted by @Jay Kaufman:

Shorted out the motherboard on the boiler...

which I was told shorted out 2 other parts.

I was told that the polarity was set up reversed when the boiler was installed...when it was changed at the circuit box but not the boiler the parts "fried"

 I'm not seeing this happening from having a hot and a neutral swapped.

This is a residential, single phase, 120/240V service isn't it?

Heater runs on 120V?

Watch out for guys who use the term "shorted" to describe almost all electrical failures. Seriously, anybody who knows what they are doing usually won't.

"Nothing short about this circuit"


The Three Stooges - A Plumbing We Will Go by bala1us

Post: Foundation cracks & repairs

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133

Whoever built that garage addition scrimped on the foundation. I'll bet it sunk over an inch.

You might be able to save the house, but that garage is history.

Post: Newbie from Poconos, PA

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133

Probably a pretty good area. I've been looking at it myself. 

Just don't get tempted by the "patch towns" with the low prices. Seems like a lot of them are full of hillbillies on heroin.

Read the Standard Speaker, and the Scranton/Wilkes Barre papers to get a feel for where the busts are going on.

To be just like my childhood hero

Post: Where to start - waterfront mixed use development

Joe CummingsPosted
  • Philly Burbs, PA
  • Posts 338
  • Votes 133

I'm going to say what nobody seems to say.

If you aren't part of the political "in crowd" there, chances are you're due diligence efforts are going to be wasted.

If you are talking to receptionists,,,,,,,,,,

The guys who get there deals done, have the real decision makers private cell phone numbers, and know each other on a close first name basis