All Forum Posts by: John Festini

Property is in Manahawkin, NJ

ARV: $400,000

Repairs: $100,000... house needs to be raised to 8' and needs a new bulkhead

Earnest money deposit: $5,000

Asking: $195,000

Correction... property is currently occupied. Owners need to sell before they can move

6800 sqft main house with 6 beds 4 full baths in main house and a 1100 sqft 2 bed 1 full bath servants quarters (can be used as a rental), outdoor in ground pool, volleyball court, full sized basketball court, shuffleboard court, outside gazebo kitchen and a pool house. The house doesn't need any updating or repairs, More photos available upon request.

I looked at houses that sold in the neighborhood and the average price per sqft is $150.. which would put the value at $1,185,000. I have the value at $925,000 ($117/sqft) with the seller.

I am asking for $725,000

Hello BP!

I am looking for some help on a property I am in negotiations with in Cape May Court House. The house is very unique and does not have comps in the area or surrounding areas. Are there any agents/brokers that have access to the Cape May MLS that can give me a confident ARV?

Please email me for the rest of the information.

Thank you!

Hello BP!

I have a seller in Sewaren, NJ that I have been speaking to who will need a short sale. I am looking for buyers who might be interested. Its right on the water and has a view of NYC. For those interested please email me.

Thank you

John

Hey BP,

There is a motivated seller I am talking to who purchased the lot next door, torn down the house and then added an extension to their primary house. However, the seller isn't sure if the municipality knows about it since they are paying taxes on both properties. How do I go about wholesaling this property, will it be one or two separate properties?

Thanks!

Hello everyone!

I have a potential seller that has a contract from Sandy relief on hold and is to be left for the person who purchases the house. Is there anyone in NJ who has dealt with this?

Thank you

@Chris Masons I"m not sure, the seller just told me that it is illegal in the state of NJ and could lead to fines or imprisonment. I was going to ask where he got his information from but decided to leave it alone and ask on here.

Hello everyone,

For those of you who wholesale in NJ, is it illegal? I just had a potential seller tell me that it is, I haven't heard about it being illegal.

Thank you