All Forum Posts by: Charlie Hampton

Sounds good to me @Account Closed  Keep in touch!

@Account Closed I grew up in Victory Lakes.  I moved to Franklinville while in college and then to Vineland and now I'm in Texas.  To be honest, I liked investing in South Jersey because I was comfortable with it.  I have a duplex out in Salem, 1 house in Berlin, 1 house in Williamstown, and 1 house in Vineland.  I did a few flips in Franklinville and Williamstown.  I never considered Glassboro, but I know a guy who is trying to do a flip out there right now.  I think I will continue to put my money into South Jersey instead of Texas.  I did some research on properties out here and I feel safer with my choices in SJ.  Not that this is a bad place, but I have my strategy and SJ works for it.

Hey @Account Closed I grew up in Williamstown and went to Rowan as well.  Good luck with your goals!

@Tatiana Duarte

You had mentioned Vineland as a place to pick up a rental property.  Just a heads up, I have a property in Vineland (buena boro) and when I filled out the application for rental, they make you list either a property management company or someone who will be responsible for the property who lives within the Vineland city limits.  Not sure  if anyone has found a loophole for that...

My parents had a modular home built 25 years ago and that's what I grew up in.  The first home I built was also modular.  Nothing special, it was a 3/2 with a basement (9' ceilings).  It cost me $120k all in (land, building, foundation, etc). I charged a buddy $750 a month to stay with me for 3 years then sold it for $200k 3 days after listing.  The build quality was great, 2x6 exterior wall framing, heavily insulated, etc. It withstood a ride from PA to south Jersey on trailers and then being craned into place without so much as cracking the drywall.  I'd like to think thats a well built piece to be able to do that.

In South Jersey $350-$400 a square is normal for a re-roof with no major issues (insane pitch, a million dormers and chimneys, etc.)  A square is 100 sq ft.  So if he meant 40 square, then that's $16000.  If he meant 16 square that's $7400.  There is an up-charge for removing asbestos shingles as mentioned already, so verify if that's the problem.  Commonly these shingles are in a diamond pattern about 1 sq ft visible each (from what I've seen).  So if it is 40 sq and he is subbing it out, he is making 3k on the job.  Was there any wood replacement factored in?  Also take into account you are asking the contractor to finance the job until the bank pays.  I would think you are going to be up-charged for this service as well.

My analysis of this:  I think you are blurring the lines between interior designer and project manager.  You are asking the interior designer to run the entire renovation.  That may be totally feasible for  some interior designers, but to quote this "A contractor is better at building than picking materials" could also be said about interior designers.  They could be great at picking materials, but do they know when electrical, plumbing and hvac needs replacement?  A shady contractor could potentially pick up on someone lacking knowledge and take advantage of them, thus costing you money.

I would look for a project manager and hire a designer on a job to job basis (let the project manager deal with them).  When I was flipping in South Jersey I was doing sub 200k builders grade flips so I didnt need to use a designer.  But when I think "designer" I think picking materials and finishes, not managing the contractor.  Just my $.02.

@Steve Wald I would def. get a lawyer asap.  Please look up my thread about my squatter.  I tried to be optimistic and do everything on my own and it cost me alot of time, money and aggravation.

Cash for keys will work sometimes, but think about this.  You offer a person $500 to move out right away.  Well, if they stay for another 30 days instead, they saved a months rent somewhere at $800, $900, $1000.

I second this.

AGREE 100%