All Forum Posts by: Kelly Arthur

Nice job. I like your choice of finishes!!!

Nice job and great pictures too!!!!

@Zain B. I'm currently going through this with a multifamily I'm purchasing in West Orange. I told seller I would not go to close until the tank was removed, remediation completed and a "No Further Action" letter from NJDEP obtained. He agreed since he would either have to do this with me or another buyer.  The total cost was about $13K (tank removal, testing, permits and remediation)

 Prior to the soil testing, I was able to go to the city and obtain the open and closed permits that showed that the tank had been filled with sand.

I think if I had known there was tank when I entered the transaction, I probably would not have made the offer on the house but I'm glad I did and even happier that they agreed to take care of the issue.

Let us know what you decide to do.

Kelly 

@Ryan W. I got you. I think you have what you need to make your decision. I wish I knew of another way to get the information but without it, you have to go with your gut.  

Hey there @Ryan W. I'm in the middle of closing on a multi-family in West Orange that ended up having a tank. I was able to do a tank sweep and filed an OPRA with West Orange to see if there were any permits taken out to do any work on the tank (removal,fill, etc.).  Once I got the report back, it confirmed that the tank was filled with sand in 2002. Was  the town able to tell you anything without filing an OPRA to get permit records? 

My concern was that I wanted the tank to be dealt with completely by the seller prior to close. I did not want to take on the risk of dealing with a leaking tank because the cost could be significant.  I'm sure investors take risks every day but are you prepared to take on the liability if there turns out to be a leak???

Just something to think about. I wish you lots of luck.  

Congrats @Michael Enriquez. it looks like a really nice property. Keep up the good work. I am in the process of acquiring my first property so it's always great to see newbies like me with success stories. 

Big ups to you. 

Kelly

@Justin Fraser I'm also looking in that area and would be interested in understanding the market. 

@Chris L.are you looking for a buyer. I'm currently looking to buy. Let me know. 

@ray 

@Ray Reed thanks for sharing. This is great information!!!

@Chris Pohlson

That was pretty scary but you saw past the bugs, worms and greasy electrical panel. Very inspiring!! Well done!!!