All Forum Posts by: Karoline Kaon

Yes, this is going on. We are here!

@Account Closed There are no experience level requirements! This is for all investors beginning or far along in their career to connect. 

@Dirk S. Hi Dirk I want to test the waters to see how many people will come out to the area. After the first one, I can try to do it in an area that is closer to a train. But there are several buses that stop by in the area. If you PM me, I can provide you with more guidance. 

@David Weintraub7325 Woodhaven Blvd, Glendale, NY 11385 it is right next to Home Depot

Panera Bread 7325 Woodhaven Blvd Glendale, NY 11385

Hello everyone, since it looks like there are a few people from Queens,  @Lionel Li @Ronald Speed-Bey

@Steve Kontos    

@Dev Anand 

@Amit Kal

I set up at investor networking event for November 17, 2017 at 7:00 pm in Queens, NYC! If you are free please join us.

Hello everyone,

Come meet other local real estate investors in Queens, NY. This is a place for people to exchange ideas and do deals together. This is an opportunity to bring some like minded people together and it is just networking. 

There is parking in this area and you can take the Q53, Q11 or Q54 to get here directly. The closest trains are Forest Hills E, F or you can take the R, M to Woodhaven and then take a bus. 

Wow, this home looks absolutely amazing! You're 900 hours definitely were worth the experience you gained and I hope the sale of the home goes well. This home looks wonderful!

I'd be interested in a NYC meet up. I am trying to relocate back to NYC and invest locally in Queens, NY.

@Alex Deacon thank you for the response. This would be my second home purchase but my first purchase out of state. Considering that I've only done cosmetic work, this would seem a bit out of my area of expertise.  

I'm trying to waking away. My problem is that the agent in working with was playing devils advocate.  I want out of this deal and needed some reassurance (:

Hello BP Pro members,

I am going to graduate school and I had this idea of buying a home to live in while I go to school. I found a house and I am under contract for a home at $43,500. The house was priced at $45,000 and it looked decent from the photos. I was concerned with the basement because the area has a history of flooding and a lot of rain. 

I had the inspection report done and the house appears to have quite a few issues.

1. The foundation joists were cut or altered.

2. There is deflection on one of the basement walls.

3. The exterior needs to be graded. 

4. There is mold present in the basement and a crawlspace. There is also black mold in one of the restrooms.

5. There is suspected asbestos present, I have not received the lab report yet. 

6. Open drain lines that might allow methane gas to enter the basement. 

I had a contractor who works on basements in the area check out the situation and provide a quote for all of these issues. I still need a plumber to head over to look at how much it would cost to have the pipes re-done. 

1. Need a contractor to look at this. Structural engineer is roughly $1,200

2. Deflection correction estimated $4,800 to correct the deflection.

3. Sump pump and grading estimated $3770

4. To address the mold and dampness in the basement estimated $14,700 to repair ( is this way too overpriced?)

5. Need to get a plumber to take a look. 

Would you run from this deal? I don't have a problem fixing these issues but I also do not have enough cash either. I was hoping to pay cash based on what I knew about the house. I ran my numbers very conservatively. Rent in the area ranges between $300- $400 on these older homes. There are 4 bedrooms but I will occupy one of the rooms, so that reduces the rent. Should I try to get the seller to fix these issues or ask for a credit? My biggest concern are the safety issues presented and that I will incur a huge liability with mold and methane gas in the house. 

I appreciate any feedback and I am so thankful for the wonderful people on biggerpockets!