Rehab Journal: Joralemon St. Project (Ride Along)

Rehab Journal: Joralemon St. Project (Ride Along)

Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes

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:

www.540Trinity.com

www.649Summit.com

So ask away regarding any questions and hopefully Sam, Brian or myself can get to them all. Thanks for reading!

8Reply
247 views

Most Popular Reply

Salt Lake City, UT · Member since 2013 · 164 posts · 73 votes
11y

I'm really interested in following along. I'm a Jersey guy who lives in Utah. I was out in Jersey last week and was driving around and I'm seeing the opportunities.

Are you primarily focusing on rehabbing or wholesaling?

See this reply in the discussion

52 Replies

Jump to latestLatest
  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Day 1 - Neighbors & Security (Thursday 5/14/15)

    We usually start this phase off by introducing ourselves to both neighbors on each side of us. This way if there's ever an issue with a contractor that a neighbor might have, that neighbor will give us a call first before calling the city to complain. This little move has worked wonders and saved us a bunch of headaches in the past. And every good rehabber knows that your neighbors are often your strongest allies when it comes to doing a major rehab project. So you do NOT want to piss them off. Instead give them your card and make sure they have your cell number. We also let them know that we'll have a dumpster at the house in the next day or two and if they got anything in the basement they've been meaning to throw out, feel free to use the dumpster.

    And even though we start with this step technically no matter what project you're working on, safety and security should be the first priority. As they say in business "you don't own what you don't secure". Therefore we immediately get to the house after the closing and make sure that all windows are secure and then have the locks changed. A couple of months ago we closed on a house and found out 3 weeks later that the seller who supposedly wasn't living there was indeed still living there. Fortunately for us he left peacefully after another week. But that reminded us that security is always our top priority and to always change the locks immediately after the closing. This is also the time where you may want to go through the house and see what goodies the seller may have left behind. Tools, lawn mowers, snow blowers are all fair game. 

  • Salt Lake City, UT · Member since 2013 · 164 posts · 73 votes
    11y

    I'm really interested in following along. I'm a Jersey guy who lives in Utah. I was out in Jersey last week and was driving around and I'm seeing the opportunities.

    Are you primarily focusing on rehabbing or wholesaling?

  • Real Estate Professional · Salt Lake City, UT · Member since 2010 · 609 posts · 163 votes
    11y

    What a good thread to follow.  @Ibrahim Hughes I really appreciate the details in your posts.  Figuring out systems or partnerships to move my business to the next level is what I need to figure out.  

  • Chester, NJ · Member since 2013 · 150 posts · 30 votes
    11y

    Hello @Ibrahim Hughes, that looks like a nice place. I'm looking forward to seeing the transformation. Thank you for putting this up.

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Day 2 - Demolition & Cleanup (Friday 5/15/15)

    This is our first day actually doing some physical work at the house and a couple of our guys are starting to do a little clean up. Wasn't too much that had to be done so we're going to go for a few days with just two guys on the cleanup. we'll see how far they get before making a decision as to whether or not to add more guys. 

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Day 3 (Saturday 5/16/15)

    While the walls were being demolished, we started with the roof which was really in bad shape. There's no point on starting on any other part of the house in regards to renovations when you still have a bad roof. A roof that may allow the weather's element to come through and cause more damage than what you already have to repair. So below are a couple of pics of the roof being replaced all the way down to the plywood.

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    @Jason Fraser

     - Sorry for the delay.  We concentrate on both! Where are you from in Jersey?

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    @Gary Parker

    I had trouble figuring it out (and still do) when I was a one-man show. Much easier when you have a partner who is also interested in using systems to grow your business.

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    @Kenneth B.

     - Hope you enjoy it sir and thanks for following along!

  • Chester, NJ · Member since 2013 · 150 posts · 30 votes
    11y

    It's amazing how fast those dumpsters fill up!

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    @Kenneth. It really is! Sometimes 1-2 a day depending on how many guys you have filling them up!

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Day 4 - 13 (Days 4, 10 - 12 - OFF).  Not much to report except that we are basically done with demo. 2nd dumpster arrived today and so whatever couldn't fit in the 1st dumpster will go in there.  

    Next is framing in the attic (remember we're turning it into a bedroom), new bath downstairs and the dormer in the bathroom upstairs (to address the sloping roof in the bathroom upstairs - right now the sloping roof is taking away some of the functionality).

    And we're still waiting for the plans (and permits) to be approved! 

  • Investor · New York, NY · Member since 2014 · 156 posts · 48 votes
    11y

    Great tips! Can't wait to hear more. 

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Day 14:

    Well we finally have a *little more* excitement to report since this can be one of the more boring stages in the exciting world of rehab (there can be a lot of lag time between submitting permits/plans and waiting for approval. You can get the roof, siding, windows and demo done. But with the 21 business days that the municipality has to get back to you and approve - or deny - your permits, that can leave you with 14 days of nothing to do. Fortunately we're busy wholesaling, acquiring another buy and hold and planning for our next rehab project (Union, NJ here we come - and wait til you see the pics of this one - It's a DOOZY!)

    Anyway we found this cute little guy on our door when we got to the site this morning. Normally we'd have the grass cut during the first 1-2 days of taking ownership BUT, my pickup truck is in the shop and I can't fit the lawn mower in my car (or maybe I just don't want to - lol). So I'll have to borrow the wife's car (hatchback) and hope the arms fold down so that I can get the mower over to the house tomorrow.

    Additionally, our stairs arrived. In addition to converting the attic into a bedroom, we're replacing the attic stairs so that the room is easily accessible like any other upstairs room would be. Currently you will break your neck trying to get up the stairs as is. I wanted to post a pic of @Sam Colon with our 'stairs guy' working out the logistic details for getting the stairs from the 1st floor to the 2nd-3rd floor. But for some reason some of my pics are loading disoriented to a point where I need to turn them 90 degrees to the right (which I can't do on BP). Any idea why @Brandon Turner or one of the other moderators? 

    In any event, we Decided that getting the new stairs up the main stairs is simply not possible. We'll have to remove an old window and frame and have the stairs hoisted through. Should be interesting..... Until next time!

  • Investor · Smithtown, NY · Member since 2012 · 64 posts · 18 votes
    11y

    @Ibrahim Huges- Congrats on the purchase. Looking forward to seeing the finished product.

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y
    Originally posted by @Garret Chiaramonte:

    @Ibrahim Huges- Congrats on the purchase. Looking forward to seeing the finished product.

     Thanks Garret!

  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    11y

    Hey @Ibrahim Hughes the photos seems fine on my end. Make sure you are uploading the right orientation of the image. also, you may want to resize the image to something smaller (>500px) since it may not fit to the screen. hope that helps!

    BiggerPockets
  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Thanks @Dave Visaya

    I'll give it a shot.

  • Portsmouth, VA · Member since 2015 · 330 posts · 191 votes
    11y

    where is the costs associated with each step you do.  I'd like to know your estimates and actual costs,.  thank you

  • Flipper/Rehabber · Jersey City, NJ · Member since 2012 · 204 posts · 109 votes
    11y

    Great thread, @Ibrahim Hughes- thanks for sharing! What's the plan for the components on this one (plumbing/HVAC/electrical)?

    Best of luck on this project. The other two look great.

    @Steve Buchanan- thought this thread might be of interest to you...

  • Rental Property Investor · Los Angeles, CA · Member since 2013 · 119 posts · 51 votes
    11y

    Thanks @Ryan Goldfarb this thread would probably interest you too. 

  • Real Estate Investor · Bayonne, NJ · Member since 2010 · 2 posts · 1 vote
    11y

    @Steve Buchanan and @Ryan Goldfarb - thanks for following!

    Ryan - new electric, plumbing and hvac being done here. And thanks for the compliment on the other two projects. Sam has a great eye for design so he deserves 100% credit for the visuals.

    Steve - while we finished the basement in the other two, we won't be doing the same here. Budget is too tight and it's not really needed here. We usually finish the basement to increase functionality.   Particularly when there is no space to add a 2nd bathroom on the 1st floor and a laundry room is needed.  And when done right you definitely get your money back in price and marketability. 

    However the laundry room and extra bath are being added to the 1st floor so no real need to finish the basement. Which is sort of small anyway.

  • Real Estate Investor · Bayonne, NJ · Member since 2010 · 2 posts · 1 vote
    11y

    Sorry guys. Sam was signed in on my laptop when I posted that last comment - Ibrahim

  • Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    11y

    Day 15-19: Unexpected Support Issues

    As can be the problem with ripping down walls "to the studs", we found that some aspects of the house contained shoddy work with the framing and dry rot. So we will have to address that and do some reframing once the permits are approved. 

    In the meantime the old stairs from the 2nd floor to the attic have been removed (pic #1) so that we can add the new set (pic #2).

    Until next time folks!

  • Architect · Mount Vernon, NY · Member since 2013 · 54 posts · 17 votes
    11y

    @Ibrahim Hughes great thread. Thanks for sharing your progress. My partner, @Steve Buchanan and I are doing flips in the same area of NJ, except you are way more experienced. We will follow your thread closely to learn anything we can. Thanks. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.