All Forum Posts by: Austin Jay Toniolo

Good morning! Anybody familiar with building 1500-2000 sf homes in Delaware in terms of cost per SF, average gross profit margins, and average net profits for the builders in Delaware?

Hello team! hope all of you are staying safe. Broad question that I am sure it has to do with local market and specific location within it. But in terms of building vs renovating a distressed property, what are some key points to consider when figuring out the ARV and how much you pros add to it if it is a new construction? Example 1500 SF fully rehabbed single fam house in Delaware with an ARV 220K conservative. If i built a brand new one next to it how much extra would be a conservative number to add on ARV?

@Jonathan R McLaughlin and the rest of the team, thank you so much for your valuable input!! 

Hello. Just wondering what form/paperwork do you ladies and gentlemen hand out to investors who brought capital to your deals after the deal paid them out and to ensure that the investor guarantees receipt of funds?

Thank you ladies and gents. Very valuable feedback. Will execute based on your recommendations. Stay safe!!

Thanks @Anna Sagatelova. If the tenants were in there 18 years (no disclosures), would you have the current owner sign lead disclosures with tenants regardless of all the years that went by? do you think it could bite me later in the future after picking up the rentals with a newly signed lead disclosure agreement?

Hello BP gotta day love you guys as always and hope y’all staying safe. About to purchase a 6 unit rental portfolio in DELAWARE. Older 1940s multis with interior and exterior lead paint. Looking at the current leases I didn’t see disclosures of lead paint.

Question here is, should I paint over and seal it or remove completely? What are the costs for both projects?

also the vinyl siding is installed over the old wooden siding and it’s full of lead paint.

I’m a little concerned since I never bought one with lead.

I appreciate your awesome input and energy as always.

Thank you all for the valuable inputs. Called and confirm zoning requirements from planning and zoning department. I went ahead and budgeted for replacing both septic systems and allotted an extra budget to extend drain field. Also made it all contingent on site eval and what comes out of soil eval/recommendation. Thank you all again. 

Hello BP!! Hope you are all staying safe! Looking into 2 Delaware FLIP parcels(one parcel with 2 units and another parcel with 1 unit) that share the same mound septic system. The seller found out (after building the 3rd unit) that the drain field is too small and overused. Seller was suggested that she take down the 3rd unit (apartment) to expand the field. 

What are your thoughts regarding how to properly analyze my repair budget and should I budget in the installation of a second mound system, in addition to the tear down of the apartment?

Would it be wise to tear down the apartment and combine both septics and expand the drain field? 

What am I not seeing in this never-encountered scenario that you may have seen in the past? How did you proceed and structure the offer?

Thank you for your awesome input as always! 

Pitching in here to stay updated. Thanks for the valuable input.