All Forum Posts by: Dan Liptak

I assume CT is similiar to NY.  In NY you need to take a RE Salesperson course which is 75 hours after that is complete you take the license exam how ever you need a broker to hold your license.

You can do courses online normally 200-400 but you can search groupon more often than not you can get the course for 90-150.

Good Luck

If you have experience go for it.  If you get in over your head get a contractor to take over.  If this is your first experience the 10-15% you pay to the contractor will be well worth the hands on experience in seeing the job from start to finish.  Good Luck

Its good to start and build up some capital but if you are going to be doing this full time you will want to develop relationships with contractors/electricians/plumbers.

I usually do the big stuff my self electric/plumbing/hvac and leave the labor intensive stuff to others carpentry/drywall.  Wife likes to paint so that works well!

I am not sure.  I did a 203k and I don't remember what happened with the contingency.  Did you do the work yourself or use a contractor?

Does anyone have a suggestion for a good CPA experienced in REI in Westchester, Putnam, or Dutchess county in NY?

Thanks

Hi Dale,

I am in a similar situation.  Just wanted to inquire to see how you made out with this deal.

Thanks

Dan

Looking to start REI full time. Anybody have a good cpa and attorney they can recommend in westchester, putnam, or dutchess county in NY?

TIA

I wouldn't repipe the whole house unless needed.  Usually you will get your failures in elbows.

You might only have a few spots that need to be replaced.

You can just shut all valves off.  Turn water om and go section by section opening g valves and checking for damage.

If you really don't want make a mess you can use an air compressor and fill it with air.  Assess the same way.  

Same procedure for boiler/heating system but perform a separate test on this.

Usually the elbows in runs near the exterior walls break first which actually reliefs other parts of system.

I have seen freeze ups where it was only minor a few elbows here and there.

It really needs to be done on a case by case basis but it seems like your preparedfor the worst but I don't think it will be that bad. 

Pex is the way to go!  I use clamp fittings but if time is money shark bite (push to connect) are great just expensive but the save alot of time!  Plus they are approved for in wall use.  Always check with building dept.. all towns are different.  If you are handy it would be a good idea to find a licensed plumber and explain your experience and see if they will allow you to do the bulk of the labor.

also with pex in visible areas use rigid pex also color code in red/blue (very impressive to people looking at it), for your heat make sure you use one with an oxygen barrier for heating systems.  Good luck!

I would suggest get an appraisal.  Then agree on a price below that so you can make profit on it.  Hire an attorney explain the deal and have him draft a contract and that's it.

@Ned Carey Thanks for chiming in again I did hit google after having more questions and the answers I got were spot on to what you say...  You really know your stuff.  Yea with a sdira that would only be used for the investments that really are hands off run by contractors and managers... etc

Even the charging company for my labor seems too aggressive for me as of now my tax rate isn't bad at all.  I believe the tax code is more than fair and do try my hardest do my taxes right no need attract unwanted attention even if its legal unless the potential benefit far outweighs the possible scrutiny in this case it doesn't.  

Hey @Ned Carey posted the details of my deal and what I am trying to do in PRO section.  I would love to get your opinion if you get a chance.  Thanks again +1Vote