All Forum Posts by: Darren Chang

@Alex Furini Hi Alex, because the windows to be replaced are in an old 1930s building, the dimensions are nonstandard and need to be custom made. This is why I prefer the manufacturer also be responsible for installation. And being custom-made probably contributes to the price hike.

The other cause of the high price is the apartment being on the sixth floor. 90% of the contractors who contact me said they can't do installation above the third floor. This eliminates most of the competition.

Do you or anyone know a good forum for construction/contracting?

Thanks,

Darren

Hi, just got quotes on replacing 7 double-hung windows in Queens, NY. Not sure if the price is reasonable. Would really appreciate any advice.

The quote is from WindowRama for total (7) windows, among which

(5) windows: 5'-5" (H) x 2'-6"

(1) window: 3'-5" (H) x 1'-8"

(1) triple unit: 5'-3" (H) x 7'-8"

 There are five product options, the price includes material and labor:

MARVIN ULTIMATE CLAD – ALUMINUM EXTERIORS & WOOD INTERIORS TOTAL: $17,550

MARVIN INTEGRITY – FIBERGLASS EXTERIORS & INTERIORS TOTAL: $11,760

ANDERSEN E-SERIES – ALUMINUM EXTERIORS & WOOD INTERIORS TOTAL: $13,150

ANDERSEN 100 SERIES – FIBERGLASS EXTERIORS & INTERIORS TOTAL: $9,270

UNITED 8000 SERIES – VINYL EXTERIORS & INTERIORS TOTAL: $9,840

More detials:

Supply & install new windows throughout 6th floor apartment. Windows to be DOUBLE HUNG w/ BROWN / BRONZE exteriors & WHITE interiors. Glass to be Low-E insulated with argon gas fill. Windows to be installed from the INTERIOR using the existing exterior aluminum trim. Due to the height of the building installation is from the interior. New PRIMED interior stop moldings to be installed as needed. Existing exterior trims to be sealed from the interior as best as possible. 2 YEAR WARRANTY ON ALL WORKMANSHIP. 

Hi, I'm reposting this from the NYC RE forum. I need a tax specialist to make some scenario analysis on my small investment in Jersey City:

1) Sell right after purchase

2) Hold for a year or two as investment property then sell

3) Hold for a year or two as primary residence then sell

Thanks in advance for any recommendation.

@John Casmon a one-time consulting might develop into a career long relationship. You never know. It depends on how the first time goes.

You mean Linda Weygant from Colorado? Thanks for the recommendation.

Hi, I need a CAP to make some different scenario analysis on my small investment.

1) Sell right after purchase

2) Hold for a year or two as investment property then sell

3) Hold for a year or two as primary residence then sell

Thanks in advance for any recommendation.

Reading these posts made me realize I have a lot to learn about 1031. A question that most websites won't answer: if I live and work in NY, but my property to be relinquished is in NJ, which state capital gain tax should I pay? Each state has different capital gain rate and exemption amount.

@John C.

Thanks for the suggestion, John. I'll look into the site.

@Basit Siddiqi

If I understand correctly, wholesale is finding a deal and selling it to somebody else before actually closing it. If this doesn't qualify for 1031, I still need to pay tax for the profit I make, right? Would this be taxed as capital gain or normal income?

If the math is in favor of 1031, I would rather close first, then sell it. I have signed the contract and paid 20% down, but the property is a pre-sale and still under construction. It will get TCO by the year. There has already been a good chunk increase in the market value, so I want to cash out on the equity and invest it in something else.

Hi, I'm planning on doing a 1031 exchange. A good friend who is also a broker recommended finding a CPA to work out the number (unfortunately she doesn't know one herself). Does anybody have a recommendation?