All Forum Posts by: Joseph Chacko vellukunnel

I currently own 4 properties in new jersey, tenants actively managed through a property manager.  The PM is okay, and they are reasonably prompt at responding to our tenants and maintaining the property.  That being said, they're also not the best.  I wanted to check if anyone has experience working with virtual property management companies (Tech platform + someone at a call center managing tenant requests.).  They're less expensive, but are there other things I should watchout for?  Will it end up costing me more in the long run? 

@Stephanie Ford, @Eliott Elias

 So I'm only looking for licensed contractors, and the work is usually above $100K. so need someone dependable.  Before selecting a contractor, I always end up calling the contractors and getting references of completed projects, but where I'm looking for help is finding a good list of contractors to begin calling. especially when working out of state.  I use yelp sometimes, but I feel the reviews are fake and sometimes promoted by the contractor.

Thought that permit details, ex: no of open permits, number of failed inspections, etc is a better indicator of how good a contractor is.

Hi BP,  does anyone have strategies on finding good contractors? especially when working out of state?  I recently started looking at permit office records and collating contractor lists to build my own spreadsheet.  Wanted to know if anyone else has luck with this approach.  Happy to share my list of hudson country contractors if anyone wants to compare notes.

thanks

Joseph

Hi BP - I  did a gut renovation on 3 family in jersey city last year.  The  dreaded tax assessment postcard came in the mail this year, and my property taxes have gone up 150%.  I knew taxes would go up, but wasnt sure if it would increase so much. Does any one have experience appealing property tax assessments in JC?

Thanks

Joseph

Hi @Steve Santurro, which contractor did you finally go with?  I recently finished a gut renovation of a 3family home using the 203K process and it was a pain to find the right contractor.   I finally ended up putting building my own contractor research list after pulling data from the town permits application website.  Found this to be the most reliable source, outside of "i know someone who knows a guy".  DM me if you are still looking for contractors, happy to share my spreadhseet.  

hi, I'm trying sound proof across floors. did the MLV give you good results?

same question. in jersey city. did you have success with the sound insulation? what materials did you use?

Hi,

I'm remodeling a multi family home that I recently purchased. I'm about to install drywall and floors and wanted to check if anyone had any good ideas on soundproofing.

The home is a 3 family across 3 floors, with wood frames. It currently has the original hardwood floors on all levels. I'll be owner occupying the bottom unit.

I'd like to know how important soundproofing is for renters. How much should I spend per sqft? My main concern is impact noice and airborne noise across floors.

my current plan is to lay vinyl planks, and a good quality underlayerment over the existing wooden flooring in all the upper floors. I'll also be adding in insulation between the floor joists. additionally, for my owner occupied unit, I was thinking of adding an extra layer of drywall with green glue.

would love to hear from any of the investors, sound experts out there. Is this a low cost viable approach?

joe

thanks @kevin.  I've requested the sellers attorney to provide the info. I'm also going to jump into the NJDEP website.  this is all very very useful information.  

My hope is to get the test report and get an estimate from the removal company on the remediation expenses. If there is a leak, thinking of asking the amount+a safety margin to be placed in escrow.  I've also heard that management of the escrow can be a pain. So, thats another worry that I have.

@sami- were you only waiting for the NFA letter when the seller offered to put the $10k in an escrow? I'm in a asimilar situation myself.  I'm waiting to close on a house in jersey city, but i've added in my purchase contract that the seller must provide NFA letter before closing.  The seller is now saying that they've completed tank removal and are now awaiting the letter from the state and that the letter can be delayed.  He's now offered to place  10K in an escrow to close sooner. Not sure what the risks are, and how best to proceed.

Joe