All Forum Posts by: Vincent Paventa

That makes sense, I'm finding there are a ton of different opinions on how to best use HELOCs. I used one on my recent multifamily purchase but am still deciding how much to pay down for the right cash vs. financing balance. 

Hey @Account Closed- congrats on this deal! Nice find regarding the 2nd bedroom.

I'm an investor in Northern NJ as well and just replied on your other post. 

In Sussex county, which towns are you seeing the best numbers in?  

Congrats on this deal @Account Closed!

- Would you be able to share where you got the HELOC? Have you had good experiences with that bank?

I own property in Bergen/Hudson County in Northern NJ. 

Update: I found more info here: https://cumulis.epa.gov/superc...

Over the years they have inspected and addressed properties that were deemed to have unsafe levels of chromium, but it looks like the clean-up/remediation is still in progress (and could be for years).

Hey @Mark F./@Kenneth Biason - I came upon this thread as I'm in review on a property in Garfield that falls within this zone. I've been reading up on the issue and to my understanding all the contamination has been contained/removed. 

Is the current risk that the issues are just not fully addressed and could cause further problems in the future? Have you learned any more information on this since these last posts 7 months ago? Really appreciate any insights, thanks.

Per EPA.gov...

"What Is the Current Site Status?

EPA has completed removal of hexavalent chromium from thirteen basements and installed systems to prevent further infiltration of contaminated groundwater. EPA monitors the basements of properties within the area impacted by the chromium contaminanted groundwater plume and inspects basements when necessary.

Following the completion of removal activities on the E.C. Electroplating property, excavated areas were backfilled with clean fill material and the site was restored with a temporary impermeable asphalt cap to prevent infiltration of stormwater. EPA continues to monitor conditions at the site. EPA has identified a remedy to address contaminated groundwater and that remedy is under design."