All Forum Posts by: Tim Pagano

I'm looking for a structural engineer that anyone has working relationship with.  I have project in the Branchville area and I need a pro to do some load calculations for me.  Any suggestions would be a  big help.  TIA

As a former NPS employee I can shed some light on how this process works.  First the NPS will not be funding much.  It will all be private or foundation money and local government action.  The best example one can find is Lowell Mass.  I visited that park back in the late 80's and the neighborhood was a dump, and the park was just coming together.  I went to the park and was advised not to wander too far away from the parking lot. 

The community embraced the park idea and worked to revitalize the area.  Two years ago I visited again and chatted with my fellow rangers at length.  I walked a totally renewed area.  

I know that the NPS staff are conducting the similar types of programs to engage and educate the local community but it's only 3 or 4 rangers still.  This will not be a quick transition and it will cost a great deal of money.  That's the biggest question: "Where's the money going to come from?"  If you want to know how the development is progressing you need to look into the public records and follow the local planning commission. 

What's your tolerance for risk and what's your timeline?  If you want a quick buck I'm not sure the NPS is going to be your savior.  If you want be a community developer and take the long view they an investment in the area will probably pay off.  

@Rich Zellmer is spot on.  The NFA is the key.  If that tank is under the house you're going to eat the repairs and it can get god awful expensive.  That's why they are handing you a story.  

All oil tanks will leak eventually.  I've had it happen to me and it's a long and drawn out process.  Not impossible to fix but they can get really messy legally.  Since they've admitted that the tank is under the house.  Think about what goes into fixing that problem.  You will need to jack up the house move it and then move it back onto the spot after it's cleaned up.  To clean up one deal we had to dig down nearly 15 feet.  I'll bet the house is in one of those neighborhoods that has 2 feet between the buildings.  Where would you put the house when they dig a like the one I had?

I'm not afraid of taking on oil tank projects, but this one sounds like it might be a real headache.  It is not for a newbie who doesn't have a large supply of Tums and Advil.   Think twice before doing this deal.  

Know your stuff. From and investor's point of view you need to know the market inside and out. When I meet an agent that can't tell me about the HOA or who's a good painter in the area I know I'm dealing with a lazy agent. Too many wander through the sales process only doing the minimum. Some how or way they always find themselves at the closing though for the check.

Right now I'm working with two agents that are doing the bare minimum for me on a $25K deal because their commission is small. I'm looking to buy 3 homes in their area  this year and flip at least 2.  I haven't told them yet because I want to see who has the character traits I'm looking for in a business partner.  Deliver on each deal. I'm not giving out big deals until I know my agent is willing to sweat the small details and be responsive.  

When your'e starting out let your customers know that you're new to the business.  Your advantage is that they are your sole focus.  You can make them feel special. Be willing to ask lots of questions of them and when you don't know the answer to their questions have the integrity to say " I will get an answer for you."  My favorite response when asked a question I don't have an answer to is:  "That's a good question.  It's the first time someone has asked that of me. Let me get back to you on that one."  Then deliver a response or direct the customer to the appropriate subject matter expert.  

You don't need to know everything.  You just need to know who to call.  That only comes with experience.  Good luck.  

I just landed a deal in Sussex County.  The last time I did one here was 15 years ago and my old attorney (I though he was great) has passed away.  I'm shopping for an investor friendly attorney.  Anyone here have someone the like in the area? 

@Shawn Mcenteer It's an all cash deal so I'm not worried about lender financing at this point. When I have the home fixed I will get a HELOC or ReFi the place. Thanks for the input. I'm looking for vendors that might be able to do the work in Sussex County.

Thanks for the replys.  Your ideas and experiences are much appreciated. 

I'm considering purchasing a home in Sussex County.  I've been told that it has a bad septic system and I'm familiar with how they work.  Anyone been through the process and have any tips on how to work through the bureaucracy etc here in NJ?  Any recommendations on who to work with and what questions you would ask of potential vendors?   I know that they are expensive and I've figured that into my calculations.  

Hi I came across a home today and the only way to purchase the house is via www.Hubzu.com.  (Sorry I misspelled the website in the tiltle and BP won't let me edit.)  Has anyone purchased through this site before and what was your experience?  I also wonder if you have any advice about quirks things to look out for during the bidding or closing process?  

I've purchased a number of properties before and I'm familiar with the process through normal RE channels.  I've also used auction sites before to purchase all kinds of stuff, just not RE.  

Any info on your experiences with Hudzu.com would be greatly appreciated.  I've walked through the building and I'm confident in my analysis.  I just need to learn more about the sales channel.  Thanks and all the best.  

You should probably check with your local RE attorney about notification.  Where is your property located?  That also may help us better answer your question.  There's a ton of info here:  http://www.nj.gov/dca/divisions/codes/offices/landlord_tenant_information.html  Hope this helps.