All Forum Posts by: Tom W.

Water coming out of wall cracks is not a good thing and sealing the crack is not a fix. Do you know where the piping is located? Is it exposed below the sink or hidden in the wall?

@Zach Schwarzmiller Try http://www.supplyhouse.com/ they should have just about anything you need

If it is an underground oil tank there is huge risk. I personally know a person who owned a home in NJ with an underground tank that leaked. In his case the oil traveled off his property and contaminated a waterway. The clean up fees and fines cost close to $200,000.00 when all was said and done. This was a worst case scenario but the risks are real with underground storage.

Above ground storage tanks are much easier to predict. Typically you will be able to see if there has been any leakage. Just be aware that in some cases where there is an above ground tank that it was put there to replace a failed underground tank. Even though the old tank is abandoned and has not been used for years, it can still present a liability and cost you money. Due diligence is key when dealing with oil storage tanks.

It's my understanding that, in NJ at least, you have to complete the 75 hours of training but cannot sit for the test unless you are sponsored by a licensed broker. 

I'm a beginning investor  and have been looking at the Bethlehem area myself. @Rich Vogel are you targeting the college housing market in the area? I've been thinking in that direction but don't know enough yet about the special circumstances that could go along with that market. 

I was still under contract with my agent so I had to stick it out but it was my call to drop the number. 

Just wanted to put a period at the end of the sentence on this one. I made the decision to drop the price about two weeks ago. My gut feeling all along had been that this was the price range I should have been in. Within two days I had three offers and am now under contract. Thank you all for your input.

At $30 per hour, your friend will not be in the contracting business for very long. That may be decent pay for an employee of a contractor but for someone who is going to need to start paying for all of the overhead himself it won't come close to being enough. 

I appreciate the ideas that everyone is putting forward.  I had no idea that midwinter could be a good time to sell a home or that short term rentals were something that people looked for. I guess I have a lot to learn when it comes to real estate! It sounds like this could be a workable strategy but I have a couple of questions. 

Would this rental be set up for a certain period of time or would it be on a monthly basis?

Cheryl I appreciate your offer but I am under contract with my real estate agent until December. If I go the rental route, how does that affect my contract? Am I still dealing with my agent for the rental or am I free to move on?

Tim, I'm sorry but I'm new to the forum and haven't figured out how to PM yet. 

I had no idea that January - February could be a good time to sell here in New Jersey. The house is free and clear with just taxes, insurance and utilities to be carried until it sells so that is not a major roadblock. I am getting discouraged with the lack of interest in the house so it makes it tough to make the decision to hang on to It longer or to make the argument to my siblings. I think the true issue is that I've lost faith in my real estate agent. I don't know where I'm at with current value or what ARV I could expect. I feel like I'm trying to solve a problem without being given enough information to do anything but take a wild guess. Do you have any advice on how to go about finding a new realtor in this area that will give solid info and not just a sales pitch?