All Forum Posts by: Robert S.

@Justin Larese 2 houses = 2 roofs to maintain/replace. 1 duplex = 1 roof to maintain/replace. Same goes for foundation, siding, etc.

@Jay Hinrichs Good evening, I have been approached by multiple investors that I do work for to fund their flips. What minimum dollar amount would you recommend as a minimum for requesting 3 points and 12% from the borrower? All are successful with good track records.

@Bud Evans Hi Bud, glad to see this deal worked out for you. I’m an SJREIA member as well. Which wholesaler did you use? If you don’t want to post publicly, feel free to send a PM. Thank you.

@Edward Kanive Burst pipes and job mishaps are two different occurrences. Homeowners’ Insurance Companies are in business, when bad things happen they send out investigators before writing checks. Especially if the dollar amount is significant, in their eyes. The cost of their investigators is way cheaper than covering claims caused by unlicensed professionals working in investors’ properties illegally.

Now there is a flip side to all of this, as a homeowner, you have the right to fill out your own permits and do your own work, if it is your primary residence. Given that this is a condo, I would check with the municipality and see if you can go that route.

Thanks for posting this @Shelby (Osborne) Johnson... Sent you a connection request.  BP won’t allow us to leave e-mail addresses outside the market place.

@Catherine Morel Our real estate investors group has a few attorneys to recommend. Send me a dm if you are interested so I can forward you their info.

@Jay Hinrichs Thanks for the, as always, inciteful response. This certainly clears up a lot of concerns the noobies entering the notes space have.

@Kyle Mitchell Good day, I’m a licensed electrical contractor in NJ. It is not my only source of income, so my goal is not to further the profits made in the electrical contracting industry by having investors perform unnecessary work. My goal in this forum is to provide investors with real world workable solutions that will keep your properties and you, safe and profitable. That being said, hire a licensed electrician to properly pigtail each receptacle(outlets and switches) that is affected by this issue in a correct code compliant way. Also, have them install new receptacles as well. Here’s the main reason, sure the rewire of the whole premises is considerably expensive. There is an additional cost at work here, all of the Sheetrock repairs, the spackling and the painting. Those costs for a whole residence will add significant money to the project. Hope this helps, best of luck with your future endeavors.

@Jorge P. Hey bud, you got a pretty rough go of posting here. How about we try this, I’ll ask questions that allow to demonstrate to the group the complete solution you devised and perhaps we can all learn here.

1) When you canceled the original gutter drainage system, where did you redirect the water that drained from the gutter system?

2) For the newly installed system, how far is the wall the drain pipe left the structure from to the street?

3) Did you install backflow preventers?

4) How long did the work take to complete?

Thank you, look forward to your response.

So this is the REAL nuts and bolts of what happens when Note Investing goes bad. These are the threads that help out those just entering the space. Thank you all for the posts.