All Forum Posts by: George W.
George W. has started 7 posts and replied 855 times.
Post: New landlord: dealing with damage: Cracked porcelain sink

- Investor
- New Jersey
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so you fixed the pipes underneath the sink that were leaking and left the sink with a crack that leaks? You're gonna do more damage to your vanity and whatever's below this bathroom if you don't replace that sink.
Post: Calling up General Contractors

- Investor
- New Jersey
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you should ask them to look whole house over and advise what they think needs to be done in order for the house to be 100% ready to rent. Have them give you an estimate for amount of work needed.
Post: Offer--repair contingency only if cost exceeds a certain limit

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I'd say that the idea looks great on paper for you. The problem Is like other posters have already said it's all relative. One person might spend more than another on any given repair.
Another note I'm not a lawyer but what's your definition of repair because some people would argue that certian repairs are improvements. Ex: an old furnace that still works. Changing said furnace would be a improvement not a repair because it still works. Same with an outdated kitchen, bathroom, plumbing and electric. To me a repair would be: a leak, a broken window, termite damage etc. Things that acutally affect function and not just cosmetic.
Post: How to start with high debt

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- New Jersey
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With mortgages pre-approval is gonna be pretty heavily based on debt to income ratio. You should try to either raise your income level or lower your debt level in order to get a bigger mortgage. I'm not a mortgage guy so I'm not 100% sure but maybe if someone was co-signing it would help. Other than that you can try owner finance.
Post: Contractor not finishing my flip!!!!

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- New Jersey
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You should reach out to the NJ DCA. Dpt of consumer affairs. They will help you. This is the kinda thing that dw
Post: What's the Scam Here and How do You Use Craigslist to Advertise?

- Investor
- New Jersey
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Craigslist has been like that forever. I've had more success lately selling things on Facebook marketplace. Probably the best thing to do is have persistence with it.
id imagine the people trying to get address and your phone number are trying to sell your information.
Post: Signs of a Shoddy Flip or a Quality Flip

- Investor
- New Jersey
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There's way too many things to list. Flippers cut so many corners. If there's a crawl space look for recently opened beer cans haha.
first thing that comes to mind is when a storm door handle is on the right side and the door handle on the exterior directly behind it is on the left side. Generally that's the first thing I notice.
also I see alot of people who don't mitter ends of baseboard together to better hide the seam.
look under the sinks. If the pipes look really old that's a sign they may have cut corners on the rehab. Also on a plumbing note, look for sharkbites. If there's lots of sharkbitse fittings, they were probably done by somebody who had no clue what they were doing.
if they did any tiles, check the edges where they meet. If any of them are severally off then again might be someone cutting corners.
a bad sheetrock job kinda speaks for itself.
check outside windows closely and try to see if they painted over rot.
the list can go on and on forever. Wherever someone can cut a corner they usually will unfortunately.
Post: Starting a property management company

- Investor
- New Jersey
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You need to talk to an accountant
Post: Becoming a builder/Buying land

- Investor
- New Jersey
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I'd suggest if you're going to go that route to look for lots in a area you're fimiliar with. Chances are if you know what it costs to build the place, you can easily find comps to tell you what it would sell for. Look for a lot that can build two or more houses. That way you maximize profit
Post: Unwanted Traffic / Parking

- Investor
- New Jersey
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im not sure what the laws are out there but, if you put up a sign that says no unauthorized parking or standing it's probably fair game to have them towed.