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[Video #5] Home Buying Precaution and Oil Tank Nightmares

[Video #5] Home Buying Precaution and Oil Tank Nightmares

Today, I’m going to continue into the part two of this series that we started last week with Mike Okechuku, Attorney at Law.

The audio is not that great but just listen in, there’s a lot of nuggets in it.

On this particular episode, he’s going to share his “coming to America” story with you. He bought a house in Newark, and then the wife came and she wanted a bigger house with a good kitchen and all that stuff.

He shared how he avoided a lot of trouble with that process especially during the 2008 massive market crash. He’s going to tell a story about that so stay tuned for that one.

Now, speaking of trouble in real estate…

It’s very important for you to work with a professional. Either you’re buying a house or you’re investing or whatever you’re doing with real estate, it’s very important that you speak to people that know what they’re doing.

There’s a lot of potential trouble if you don’t.

Just as much as you can make … you can build wealth, like you can make a lot of return by simply purchasing real estate either as a home or investment, there can also be a big down side to it. Speak to the right professionals.

Just a few days ago, I was at an event and one of the things that we discussed was oil tank. When you purchase a home, they order an inspection. With inspection comes things like checking for oil tanks and other things to protect you.

Once upon a time, the way people brought heat into their house was through burning oil. There’s an oil tank, usually in the house somewhere (underground, above ground, sometimes under the porch).

So if there’s a hole that was created in the oil tank, it can end up contaminating the soil in the ground and it can end up contaminating underground water and that’s a big environmental deal for the government agencies.

I wanted to share that with you so that you can make sure that you’re working with the right professionals when you decide to purchase a home. You don’t have to wait until you purchase a home. You can start learning now.

One of the avenues is obviously plugin into this weekly video blog right here. You can learn a lot just by checking in every week. By sharing it with your friends also, you will get to help a lot of people as well too.

Just be careful, one of the things you have to pay attention to when you’re purchasing a home is oil tanks. You want to know if there’s been one in the house, if there was one before, you need to dig it out and clean up–mostly in existing homes.

If you’re buying a new construction, you can worry less about that because people are heating their homes right now with gas. So that’s what I have for you today.

Watch the video because Mr. Mike Okechuku is going to talk to you a little bit more tell you a quick story on how he avoided some of the trouble you could easily get into back in 2007 and 2008.

… during the biggest real estate fraud that this country has ever seen. Thank you for plugging in on episode number five. I’ll see you on episode number six!