All Forum Posts by: Mayer M.

@Brent Coombs

Also, recourse debt counts towards your dti and reported on your tax return, where non recourse does not. Having non recourse debt also helps on obtaining further loans because of this

This is my understanding

@Chris Blackburn

What are the alternatives to lumber are you referring to?

@Lawrence P. Schnapf

Thanks!

Klehr Harrison PC specifically Doug Schleicher is my environmental attorney and Doug Schott from Brickhouse Environmental is handling the cleanup/act2

Any experience or feedback with them?

I’m going to further look into the potential to recoup some costs

@John Minock

Stupid question....what is ISRP and was that post from Lawrence a spam link? It looks like one

I haven’t heard of any way to recoup and environmental costs, but if there is please educate me.

My property is in PA

@John Minock

I’ve found it very helpful to get an environmental attorney involved and work I. Conjunction with the environmental for. Doing the cleanup/act 2

@Brian Burke

Thanks for sharing your experience and expertise. I’m going to be in the market for a Fannie loan in the near future

@Taylor Billman

Where is this property located?

The bank funding the construction of your project will want to see a phase l & ll especially if it has a history of industrial/manufacturing uses.

Costs can be huge if there’s contamination and could possibly blow up the whole deal. I would strongly suggest doing the phase l&ll prior to closing

I’m in the middle of something similar and the due diligence, cleanup, and act 2 is going to cost roughly $250k and the site is only 0.15 acre (6655sf). Do you have experience with anything like this?

@Christopher Bell

Hey Christopher,

I’m actually selling one of my portfolios. Have 7 condos left in this portfolio. Properties are in sicklerville, pm me if interested

@Kaylee Walterbach

Friends, networking and the desire to learn

@Daniel Petta

Philly