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All Forum Posts by: Mike Bower

Mike Bower has started 5 posts and replied 8 times.

Post: Deteriorating exterior brick wall, 4 story brownstone. How severe an issue is this?

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Hi everyone,

One of the exterior brick walls on the outside of my building's primary residence is showing significant deterioration and damage. This is a 4 unit, 4 story brownstone in Downtown Jersey City, NJ. 

I had the home inspector look at it when I purchased my Unit, and after finding a steel reinforcement of the building in the basement, he concluded it shouldn't be a major issue - but now, two years down the line, I find myself looking at this shabby brick wall and feeling pretty unnerved. See attached photos of the exterior brick wall on the ground level, about chest height.

How would this community respond to / address this issue? Is it better to get an expensive foundation engineer at a few hundred dollars / hour for an assessment, or a foundation / stone mason contractor in to take a look? Would really appreciate the community's thoughts.

Thanks,

Post: New flooding in basement of Jersey City brownstone. No flood zone. What to do?

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Thank you Theresa, I'll be sure to look into this

Post: New flooding in basement of Jersey City brownstone. No flood zone. What to do?

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Hey BP Community,

I own a condo in a downtown Jersey City brownstone close to Grove Street. The building is not in a flood zone and has no history (that I'm aware of) of flooding in the past 2.5 - 3 years I've owned it.

This morning, I went into the basement and found 2-3" of flooding. I spoke with the commercial unit employees that rent out the bottom floor, and they said the flooding came from yesterday's rain and was the worst flooding they've seen to date. At the worst point, it was anywhere from 4-6". They're now using a small, low-power handheld pump to get the water out onto the street. This is confusing to me, because rain over the last few days didn't strike me as that heavy, and we've definitely seen much worse rain recently without this flooding.

Question for the community: with no particular history of flooding, why would a light rain from the last 2 days cause a dramatic increase in flooding in the building's basement? Could something have changed in the foundation, or the area surrounding the building? I'm stumped as to what would cause this change.

For extra context, this same commercial unit renter also previously had issues with a leak from the plumbing of their soda machine, which flooded one of the other condo unit owner's storage room in the basement as well. I'm starting to wonder if the commercial unit had another flood from their plumbing issues and is blaming it on the rain so as to avoid liability for repairs.

Given the info on hand, how would you go about addressing this? Do I need to get an inspector in to look where the flooding could have come from? Or a water damage / mold remediation company?

Would appreciate any advice, as I'd rather the building spend some money now to protect the foundation and its financial future than sweep it under the rug and cause bigger issues down the line.

Thank you -

Post: Converting one families to duplex in New Jersey

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6
Quote from @Mark Belenky:

Hey Joe, 

I just put myself into your boat.  I bought a Single Family 7 Bed 3 Bath home zoned as an R2.  If you've achieved your goal would you mind sharing how it all played out?  I'd love to get some insight and begin my journey.

 Hey Mark,

Curious how your Single Family 7 Bed 3 Bath played out zoned as an R2. 

Did you end up adding to it, or trying to convert it to a multi-family?

I'm in a similar boat with a property in Southern NJ, also zoned as R2. Wondering how likely it is to be able to pull off a Variance, considering the house is a split-level and the ground-floor has its own entrance, bathrooms, windows and everything. To my eyes, would just need a kitchen to be its own unit, but I've got no idea if the town would accept a variance -

Post: Looking for great investor-friendly contractors in Central NJ

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Hey everyone,

Building out my team as I ramp up for my first RE investment in Central and South NJ. 

I'm currently looking for great investor-friendly contractors - specifically those who operate in Central NJ, east of Philadelphia.

Any thoughts / contacts would be very really appreciated - especially if you've worked with them before and have had great results!

Happy hunting -

Mike

Post: Best and most helpful RE mentorship programs? Taking recommendations.

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Hey everyone,

While I scale up for my first RE fix-and-flip, I'm putting hundreds of hours into podcasts, RE investment books, and perusing online forums. I'll start attending a few RE investing networking groups in the next week or two as well. 

I appreciate that finding a RE investing mentor can be invaluable - but everywhere I look, I'm seeing $5K, $10K, $20K+ price tags to gain access to a mastermind group, receive some pre-recorded video content, or to sign up for a mentorship program (somewhat blindly).

Has anyone found real value in attending any of these courses, or are they all a quick cash-grab?

Would love to hear recommendations of courses, mentorship programs and / or groups that proven truly valuable for other RE entrepreneurs -- but would appreciate it if any recommendations came without a vested interest in my purchase (aka please recommend a course / program / group that you paid for and saw great value in, not one where you stand to profit from a purchase).

Thank you!

Post: Investor Looking for Connections in NJ

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Great, thx Lisa & Ryan!

Ryan: we'll chat later today -

Lisa: good to connect and would be glad to chat sometime soon also. I'll be OOO next week on vacation but around the week after

Post: Investor Looking for Connections in NJ

Mike Bower
Pro Member
Posted
  • Rental Property Investor
  • Jersey City, NJ
  • Posts 8
  • Votes 6

Hey everyone,

New to BP, loving the community I'm finding here.

I'm a new(er) RE investor based out of Jersey City, NJ looking to establish connections in Middlesex & Burlington counties, NJ. In particular, I'm looking to meet:

- Investor-friendly agents

- Wholesalers

- RE investment partners

- Contractor

My intention is to start investing in the area in the next 3-6 months, starting with single family.

Shoot me a note or leave a comment below - looking forward to connecting.

Mike