Rehab Journal: Joralemon St. Project (Ride Along)
Good morning folks! I'm starting a rehab journal to assist those new to rehabs and give them a bird's eye view of the rehab process from A to Z. We've been in business (collectively) for over 20 years so we've learned, like anything else in business, a lot of it comes down to systems and how organized you are in planning as well as implementation. We just picked this one up in Belleville, NJ and will be doing a complete rehab. All new kitchen, baths, roof etc. as we turn a 3/1 ( bedroom, 1 bath) into a 4/2. Yes architectural plans are needed to add the bathroom. My business partner Sam Colon (he's on BP but having a little trouble with his account - I'll tag him in shortly) is in charge of managing the renovations and designs on our projects. He is currently developing @Brian G. (who also wholesaled us the deal) to become our project manager on renovation projects. This will allow us to continue the company's growth.
We still have a wholesale business (plus a couple of buy and holds) so I'm working with the rest of the team ensuring that we're still generating wholesale revenue (And any one of the deals can possibly become another rehab project for us). Plus I'm responsible for the administrative duties on these projects (keeping the books, BP Rehab Journal plus any backup running around Sam may need me to do).
Our last 2 rehab projects were huge successes and so we were able to bring the private lender from one of those projects onto this one. He's making a great return in one of the safest vehicles out there so he's super excited. You can view our previous projects using the following links:
So ask away regarding any questions and hopefully Sam, Brian or myself can get to them all. Thanks for reading!
