All Forum Posts by: Kliment Krylovskiy

Hi Everyone! 

I have been reading this informative forum for a while, and now I am reaching out to the community for advice/help!

I have a 2800sqf 3 family house in Newark that I was in the process of renovating right as COVID hit. My General Contractor secured all the permits, and pretty much finished all the plumbing, electrical and framing.  All that was left was to close the walls (which are open to be able to see the electrical and plumbing) and finish the kitchen cabinets. And then... and I am sure you have all heard this... he disappeared.  When I'd reach him (rarely), he would promise up and down to finish the job, but its been months. I have to move on...

So with that in mind, would you have any advice on how to finish this project, considering that that permits are opened in his name?  

Moreover, since I really want this house done, I am ready to hire a General Contract to start completely over in order for them to feel comfortable in terms of permits, and let them do whatever they need to. I'd be loosing money, but finishing this particular house is important.  

The house is 9 bedrooms and 5 baths, 2800 sq feet.

Can anyone recommend a General Contractor to do the job (or if any General Contractors are reading this)?  Again, if they ned to start from scratch for permit's sake, so be it.  The goal is to finish the house, not penny-pinch. 

Thank you! 

Kliment 

Thank you, Jason! 

I am hoping someone can recommend an architect in Jersey City for a delicate conversion of a 2 family into condos in the Bergen Lafayette area.  Looking for someone local, who has dealt with these type of conversions. This may turn out to be a tricky project, so a personal recommendation is most certainly welcome! Thank you all, Kliment

I am considering purchasing a large 2 family in the Bergen-Lafayette area of Jersey City with plans to convert into two condos (plans area already in place).  Has anyone had experience with this process in Jersey City?  And do you think this area (Bergen-Lafayette) is ready for condos? Thanks!

Thank you!  Its difficult to say how we made out, because we ran into big problems with the contractor (twice!), which cost us close to 100k extra altogether, and decimated our profits. We weren't at a huge loss, but definitely nothing to brag about in terms of profit. The only good outcome is was that we found an excellent and trustworthy contractor (albeit a bit expensive), and should be able to do much better next time.

Hello Everyone, 

Fairly new member here, and have been enjoying reading through all the discussions (especially NJ-related).

I would love to hear other members' input/suggestions regarding "best" cities in Northern NJ (generally not too far from NY) from flip opportunities.  My business partner and I have just completed two flips in Northern Newark (both 3 family houses), and wanted to expand into other surrounding cities.  The criteria for what we consider "best" in essentially the profit spread (generally, at least 50k after all costs) and how fast a property can move. 

Any advice would be greatly appreciated!  Or perhaps we are in the right area already, flipping in Newark, and should just stay put?  

Cash budget of around 500k. 

Thanks in advance for your suggestions!

Best,

Kliment

I am a somewhat new investor  (two 3-family flips under my belt) in Newark. I am wondering if anyone has any advice on finding larger (5+ unit) properties in Newark/Jersey City or the surrounding area to purchase for gut rehab. I would love to find something large like a 10-unit apartment building ready for a full gut reno.  Any thoughts, advice would be greatly appreciated! 

Kliment