All Forum Posts by: J Womack

Quote from @James Wise:

Quote from @J Womack:

Quote from @James Wise:

California is on fire and they don't have enough water to stop it. 

California is the richest state in the USA.

California has 3,427 miles of Coastline.

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Make it make sense.

As someone who grew up in California, this tells me two things:

1) you don’t know what you are talking about and are very comfortable with your ignorance;

2) you won’t even take two minutes to find facts.

If the hydrant system relies on electric pumps and in some areas there’s no power, then there is no water. If winds are 100 mph then you lose air support while embers gain massive trajectory. The state has had perpetual drought since I was a kid.

I know you won’t do it, but read the UNFCCC exec summary from the Kyoto Protocol written in the late 90s and specifically hone in on forecasts related to water scarcity and desertification. The term ‘climate change” is so politicized in the U.S. that people ignore decades of warnings. From flooding in the Midwest to bomb cyclones on the East Coast, drought in California, the weakened Gulf Stream winds…. all were suggested as risks years ago.

i can’t remember 100 mph Santa Ana wind speeds in the 80s, 90s, or 2000s. But that’s what is making embers fly across neighborhoods today.

Water is an issue nationwide. Florida and Georgia have been locked in court cases since Bush II; there are disputes over water rights from the Colorado River where agreements on utilization of flow as measured in acre-feet were made in 1800s and are no longer sustainable. Is there room to reprice water so it’s rational such that the heaviest users pay the highest rates vs today where the lightest users do, particularly in areas like CA? Yes is the answer. That said, water scarcity is not why my home state and favorite region look apocalyptic right now.

“The governor has doubled the size of our firefighting army, built the world’s largest aerial firefighting fleet and the state has increased the forest management ten-fold since he took office,” Newsom spokesperson Izzy Gardon told Fox News.

Thank you for sharing. I didn’t realize how much additional spending had been deployed to aid in firefighting. In order to assess the headline accurately, we would have to see the entire budget related to firefighting. If that line went down by $100M but several others went up by a greater amount, then this was called management. It’s what happens when you run the 5th largest economy in the world.

As someone who grew up in California, this tells me two things:

1) you don’t know what you are talking about and are very comfortable with your ignorance;

2) you won’t even take two minutes to find facts.

If the hydrant system relies on electric pumps and in some areas there’s no power, then there is no water. If winds are 100 mph then you lose air support while embers gain massive trajectory. The state has had perpetual drought since I was a kid.

I know you won’t do it, but read the UNFCCC exec summary from the Kyoto Protocol written in the late 90s and specifically hone in on forecasts related to water scarcity and desertification. The term ‘climate change” is so politicized in the U.S. that people ignore decades of warnings. From flooding in the Midwest to bomb cyclones on the East Coast, drought in California, the weakened Gulf Stream winds…. all were suggested as risks years ago.

i can’t remember 100 mph Santa Ana wind speeds in the 80s, 90s, or 2000s. But that’s what is making embers fly across neighborhoods today.

Water is an issue nationwide. Florida and Georgia have been locked in court cases since Bush II; there are disputes over water rights from the Colorado River where agreements on utilization of flow as measured in acre-feet were made in 1800s and are no longer sustainable. Is there room to reprice water so it’s rational such that the heaviest users pay the highest rates vs today where the lightest users do, particularly in areas like CA? Yes is the answer. That said, water scarcity is not why my home state and favorite region look apocalyptic right now.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $62,500
Sale price: $229,000

This was my first flip. Purchased it before it hit market through agent from an elderly couple moving out to hospice. Overall the house was in pretty good shape, but we did get surprised by more repairs than expected on the roof, termite damage, additional electrical and plumbing. Overall, it was a good learning experience and I walked away with a decent gross profit. After commissions, it's modest but still a win.

What made you interested in investing in this type of deal?

I wanted to get started.

How did you find this deal and how did you negotiate it?

Agent brought it to me before it hit the market.

How did you finance this deal?

Hard Money - first deal premium.

How did you add value to the deal?

Totall rehabbed, including electrical upgrade, new roof, etc. Intentionally over-invested (a little bit) to test out team, finishes, etc.

What was the outcome?

We got 6 offers and will sell for 4K above asking.

Lessons learned? Challenges?

Lessons Learned:

1) Walk through with your contractor before making an offer to spot problems and to tighten up your offer;
2) The calls come when you open the walls - contingency is important;
3) Having a good contractor makes life easier;
4) Keep receipts for everything - got my CO in the final hour because we could prove door from garage was solid wood;
5) Take a moment to enjoy the process.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Hard Money Bankers - Ian Walsh (closed when no one else could)
Ellen Moody, Weichert Realtors (Moorestown, NJ) - very experienced realtor who knows the codes, knows the townships/boros

Hello,

As we continue to complete flips in South NJ, I would like to find a contractor who has strong PE relationships, or one in house, and has experience removing/creating structural elements (walls, beams, etc). Do you have any recommendations?

Thank you in advance for your consideration of the request.

@Tom Dagney Thank you for the question. I have a recommendation that I still need to connect with, and  I welcome any recommendations you may have.

Hello - 

I have an LLC I'm going to use to do fix and flip or BRRR investments. I'm looking for general liability insurance but my carrier doesn't have a solution. Any recommendations?

I am interested in connecting my investing with a double-bottom line objective - helping others too. I also see an opportunity to make an attractive return with the right team. Looking for a property management company in South Jersey with strong processes that can also manage Section 8 with dignity.

Properties will be in Camden, Burlington and Gloucester county areas (Cherry Hill, Pennsauken, Marlton, Mt Laurel, Mt Holly, Willingboro, etc)

Looking for contractor that is reliable and does good work, that is comfortable with using 'big box store' quality materials and working quickly. Work will be in Camden, Burlington, and Gloucester counties. Any recommendations are appreciated.

I am interested in connecting my investing with a double-bottom line objective - helping others too. I also see an opportunity to make an attractive return with the right team. Looking for a property management company in South Jersey with strong processes that can also manage Section 8 with dignity.

Repost: I inadvertently advertised. I love the curation of the community and content!

Hello BP,

I currently work full-time and have a very demanding schedule. I am also looking to get into more active investing in South New Jersey (Camden, Burlington and Gloucester Counties). I am looking for a contractor that is trustworthy enough to be turn over full rehabs with minimal supervision. I'm considering hiring a part-time project manager to drop in on projects as a risk mitigant, so appreciate feedback on that concept.

I don't necessarily want the cheapest, just the best value from someone who is competent, reliable, professional and who would be willing to maintain a relationship. I should be able to acquire 3 to 4 properties in the next 3 to 5 months, so can keep them busy for the foreseeable future.

Any guidance or recommendations would be appreciated!!