All Forum Posts by: Rene Bee

 Thanks this is what I read!

Hello, 

My mom received a house through an inheritance last year.  She now wants to transfer that house to me as a gift.

What kind of  tax issues should I be concerned with in terms of receiving such a gift.  The house is in bad shape and we have gut renovated it but havent started the rehab yet.  Should I get it appraised before starting the gut?  What kind of professional should I speak to for advice. 

Thx!

Hi Everyone, 

I'm getting some conflicting info and hoping I can get clarity here.  I am undertaking a gut rehab.  I'm waiting for revised architect drawings.  So will have to submit the drawings, construction permit, building permit, electrical and plumbing permit.  

a. Some are saying I have to prepare an application for all the permits at once.  Basically the contractor will gather all the permits and submit it all to the city of Newark.  That will be a complete packet for the project.

b. I had a advisor tell me today that I don't have to wait to submit all the permits all at once.  The plumber can submit his application and the electrician can submit their application so things can potentially move faster.  Then the contractor submits the plans and construction and building permits.

Which is correct?

Thanks!

Thanks all!!!

Hello,

I am hiring a plumber and want to know what kind of documents I should ask for.  Should I ask to see a copy of his license and insurance?  The project is a gut rehab.  Is there a standard plumber's contract I should use? 

Thanks!

Hi Everyone, 

I want to install a submeter so I can charge each tenant for their water consumption.  It is a 2 family home.  I can have the plumber install the meters.  But wondering the best way to read the meter and bill the tenant each month.  I've called a few companies and they only work with units 50+.  Any one know of a company that works with small houses or have another suggestion for metering reading and billing.  Thx!

 I agree there is more info needed.  The quote wasn't clear if it covered 1 or 2 kitchens. Demo was separate from the $26k.  I listed all he included in the quote installing cabinets, appliances, backsplash, etc.  But he didnt mention flooring or countertops.  Thanks I do need more detail!

 Such as habitant for humanity? I'm checking those...if you have other examples let me know...just want to make sure I am searching correctly.  Thx!!

Hi All, 

Getting estimates for a 2 family gut rehab.  I have a quote for 

Kitchen renovations $26,000.00. 
Complete remodeling of kitchen including cabinet installation,appliance installation, custom designs,
installation of finishes and backsplash (all finishes to be provided by owner)

This is for rental property in Newark NJ.  There will be no 'custom designs' or custom anything. Just looking at this has me scratching my head as it looks like I'm being charged $26k to install appliances, prefab cabinets and a backsplash.  I would expect that number to include the price of economy cabinets, countertops and appliances.  Thoughts?

 Everything has been ripped out.