All Forum Posts by: Joe San

Hello all, 

Was quoted $800 for an inspection on an old duplex that I am looking to purchase.  I dont mind spending the money to do good due diligence but i have had bad experiences with home inspectors in the past missing things so I was thinking of using this money to get in specialists for the items that I am worried about (electrical, HVAC, Plumbing, and Foundation) 

The roof is brand new on the home so I am not worried about that and I can judge the useful life left on the water heaters myself and the Plumber can give me details on that when he is doing his walk through.  Have any of you gone this route and what do you think about this thinking?  

I think home inspectors serve a purpose but since I am purchasing the property with no concessions 'as is' and have budgeted in for several repairs the minor things that a home inspector point out wont really benefit me.  Any opinions appreciated.  Thanks 

Great idea Tom, thanks!  I guess I would go down to the town permits department and request to see any permits for the property in question? 

Thanks for the replys, going to have an electrician come out next week to give me their assessment about how much of the house is K&T.  I guess we shall see

Thanks for your reply. That’s not what I wanted to hear. Was hoping they could just look at the fuse box and remove junction boxes to see. 

Hello all, 

In closing right now for an old duplex, one of the issues that worries me is the house was built originally in the mid 1800's and although has been renovated many times I know it had Knob and Tube electric wiring in the house at one point.  The current owner is telling me that it has been updated to more modern service but I have to rely on his word.  I can see that its been replaced at least partially in the basement but I don't know how to tell about the rest of the house.  

Is it possible it was only replaced in the basement and the rest of the house still has it in the walls?  I am worried a regular home inspector wont be able to identify this and I could be looking for costly rewiring for the rest of the house in the future which would make it uneconomical for me to purchase and could kill the deal.  

I plan to also get an electrician to look through the home for me in addition to the regular home inspector, will the electrician need to break open walls to tell me for sure? 

Anyone with experience in this I would really appreciate it.  Thanks.  

Hello All, 

I am in the process of buying a property in New Jersey and am shocked at the insurance rates I am receiving for landlord insurance.  A duplex is quoting me around $2000 a year and that is with only $500k in liability coverage through Progressive.  I am a progressive customer with my primary residence and vehicle already.  Travelers wont even give me a quote until I provide proof of a signed lease from tenants. What is everyone else here paying for a duplex in New Jersey, this is higher than I was expecting for property worth at best $250k.  Any guidance is appreciated.  Thanks so much for any help.

Has anyone had any experience putting up a modular duplex on an existing piece of property?  What is the estimated cost for a project such as this, just a simple duplex not very large and no frills.  

http://www.pleasantvalleymodularhomes.com/magnolia

If anyone has any idea or even a rough ballpark Its appreciated.  Thanks. 

Interested to hear what everyone would accept as far as cap rate/ROI for a duplex where some renovations ($25k worth) are needed and then renting the place out as a long term investment. Thanks

Hi Justin, Is this open to anyone?  Im still in the research stage but would love to come and try to learn something.  Thanks

I am also looking for something in the area (Cental NJ/Bucks County) Any luck finding anything? Thanks.  I am still in the research stage but would love to bounce ideas off someone if this interests you to chat let me know.  Thanks.