All Forum Posts by: Ryan H.

I agree with @Tom Gimer; you need to determine if the automatic bankruptcy stay was lifted with respect to the foreclosure proceeding and resulting sheriff's sale.  This would likely be reflected in an order issued by the bankruptcy court.

The exact timing of the bankruptcy filing is critical.  Did the property owner file for bankruptcy (i) before the property was sold at the sheriff's sale, (ii) after the property was sold at the sheriff's sale, but before the expiration of the ten day redemption period, or (iii) after the expiration of the ten day redemption period, but before the new owner filed for eviction?

Where are you northern NJ rehabbers getting your granite now-a-days?

I just installed a Simplisafe system in a family member's beach house.  They had pipes burst in the winter two years ago, so they were especially keen to install the temperature sensors and water sensors (in addition to all the standard entry sensors, motion sensors, etc.)  The system was a breeze to install and the app is great!  I will be purchasing a Simplisafe system to use on my rehab projects.

@Andrew Kerr -- At what point do you typically measure for and order kitchen cabinets and countertops?  Also, are there other significant "lead time" items that need to be ordered?

@Danny Ondik -- I'm so glad you posted this.  I was sitting on the, er, "in my office" thinking to myself that I needed to research the order in which to execute a gut rehab so that I could (eventually) act as my own general contractor.  The exact phrase that popped into my mind was "order of operation" just like 7th grade math!

[My apologies for any unpleasant visuals conjured up by the "in my office" comment!]

I'd stage it with two or three wicker storage baskets that fit just right in that space below the cabinet.  It will probably cost you less than $20 from Michael's or Home Goods and look like it was meant to be that way.

Old thread and I hesitate to comment, but...

If the desire to own the property in an LLC is primarily for liability protection why not have the owner lease the property to the LLC and then have the LLC lease (technically: sublease) the property to the tenant? This way, the LLC is the landlord and there is no privity of contract between the owner and tenant (i.e., the tenant's recourse under the lease is only against the LLC).

Thoughts?

Where are you NJ rehabbers getting your kitchen cabinets now-a-days?

You might consider a donor advised fund for charitable giving.  

You can contribute in the current tax year, but the assets are held within the donor advised fund until such time as you are ready to request that a grant be made to a specific charity or cause.

If you contribute appreciated securities you'll get double the 'bang for your buck' as you will not have to pay any capital gains tax, but will get the full value of the charitable deduction.  Example: you own a mutual fund worth 100, your cost basis is 20.  By contributing the appreciated mutual fund you (a) avoid paying capital gains tax on the appreciation of 80, and (b) get to claim a deduction for a charitable contribution of 100.

The donor advised fund is a great way of making a deductible contribution in 2017, but allowing the assets to continue to grow and decide at a later date which causes you want to support.