All Forum Posts by: Justin Eaton

@Mayer M. Hey bro! I’ve used Forevermark cabinets in every one of my flips. Great quality and great price I get them from VIP supply in philly. For granite I’ve used Millenium marble and granite in philly and absolute marble and granite in Cinnaminson! Shoot me a text if you want my contacts there

I think the % used on the vacancy and repairs should vary on the property class. In C-D class areas I would use 10-12% for vacancy and repairs to be on the safe side since tenants are a little more rough on the properties and more turnover. In A-B class areas I would use 7-8% for vacancy and repairs. If you use 10% for vacancy and repairs, your cash flow would be around $640 or $160/door per month which isn't great. Also, it looks like property insurance is missing which may be around $1500-2000/year for your property which take the cash flow even lower. 

Do not skip the home inspection when you're in the due diligence phase! This can save you tens of thousands in cap ex and unknown needed repairs. 

Hey bro! I did a 203k loan on my first house back in 2013 and everything went really smooth. The process for me worked as follows..

1. Got the house under contract

2. Got connected with a local 203k consultant thru the lender

3. Prior to closing, met at the property with the 203k consultant and my contractor to discuss the renovations. (must be a 203k certified/approved contractor) 

4. Contractor came up with a budget and work schedule and sent to the 203k consultant 

5. 203k consultant reviewed the budget /work schedule and created a draw schedule 

6. Closed on the house..Work started and as renovation items got completed, we called for draw inspections and had draw checks within days. 

I had a really good 203k consultant and I think it comes down to how responsive and reasonable that they are. He came out within 2-3 days of me calling for a draw payment and we had a check in hand within 1-2 days of the draw inspection. 

@Lauren C. Thanks for setting this up! I won't be able to attend as I am leaving town early Thursday for a wedding! 

WOW! That's awesome bro! to 2nd some of the others, I wish I knew about REI when I was 17! I host meet ups about once a month, really good crowd with good vibes, you should try and come out to the next one!

Let me ask you this - how did you find out about real estate investing to begin with? I'm curious ! 

I hope everyone is having a great summer! Thanks to everyone who came out to our last meet up at the local brewery, there was great conversation had and even better connections made! 

The next meet up will be hosted by US Navy Veteran and real estate investor, Joe Evangelisti who specializes in flips, new construction, and wholesaling in South Jersey. Since leaving the US Navy in 2004, Joe began working in real estate. He’s worked as a construction project leader, a general contractor, a real estate broker/owner, and a developer, and has helped to build, renovate, and sell millions of dollars in residential real estate.

Today, Joe combines that wealth of experience to create beautiful, highly-sought-after flips and new builds. He mentors and coaches new and seasoned investors who want to grow their investing businesses. Joe is also the founder of TheFlipKing.com, host of The Legacy Blueprint Radio Show, and proponent of the 4 hour work-week; helping business operators become business owners.

Joe has recently opened up a co-working space designed specifically for real estate investors called BaseCamp REI. BaseCamp REI is a located in a Class A building in beautiful Haddonfield, NJ. BaseCamp REI provides a great networking opportunity for real estate investors and real estate affiliates located in the South Jersey area! Visit BaseCampREI for more info!  

Hope to see you all there! 

Hello everyone! The next meet up will be a casual get together at Tonewood Brewery in Oaklyn, NJ. Grab a friend and come out to talk about real estate while enjoying a cold beer! I hope to see everyone there! 

Hello again everyone, so the very first meet up that I hosted in January of 2018, I did a quick talk on investment property due diligence at Panera Bread. I plan to build off of that outline and give a more formal presentation for the next meet up. I will cover the pre and post contract due diligence phases.  I will also be speaking on the importance of a home inspection when purchasing investment properties. Refreshments will be provided by DwellSafe Inspections & Engineering. 

James, I also emailed the BP pro member email address a while ago about this issue and they said to have opened a "ticket" for it. So maybe its in the works but who knows, it was 2-3 months ago. 

Hello everyone! We packed the conference room at the last meeting and it was great, I think we had a total of 35 attendees! The next meet up will be sponsored by myself via my inspection business DwellSafe Inspections & Engineering, and refreshments will be provided. 

I have a guest speaker Ron Cappuccio coming out to give a presentation. Ron is a Business and Tax Attorney emphasizing Personal and Business IRS Tax Negotiation and controversies, past due taxes, Offers In Compromise, Installment Agreements, as well as Audits, Delinquent Tax, and Tax Collections Issues, Employee and Independent Contractor issues, Payroll Taxes, Tax Liens, Wage Levy Release, Bank Levies and Seizures. NJ Tax Court, US Tax and US Court of Federal Claims representation. 

See you all there!