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All Forum Posts by: Mel C.

Mel C. has started 8 posts and replied 29 times.

Post: Newbie Investor from Central, NJ

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

Jarrett, welcome, I'm in the neighborhood, good luck to you and your future endeavors!

Post: Tenant wants to make improvements. Should I let them?

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

I'm with @Max T., I'd have my installer do the work, it just avoids the possibility of liability. I'd also have tenants sign something that says they won't ask for reimbursement (assuming you let them pay for it).

Post: Oil tank risk on Sheriff's sale property

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

I wonder if there are any insurance companies that offer oil tank policies? You pay a one-time premium, then after close, you do a sweep, and if there's an in-ground tank and is leaking/has leaked, insurance covers the remediation. This is just me typing out loud, I don't really know if any insurance companies offer this protection.

Post: need a real estate investor friendly CPA in Middlesex County

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

Hi, BP, wanted to see if anyone can recommend any CPA's that they've worked with in Middlesex County that is RE Investor knowleadgeable / friendly. Appreciate any rec's, thanks!

Post: How do I find out who architect and GC are on a house I like?

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

I've been impressed with this house that I see in Edison that is under reno. I'd like to find who the architect is and GC that is doing the work, but I don't see signs or workers whenever I pass by. Is there any other way to find out who is doing the work?

Post: Checking permits in NJ?

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

Go to township, they should be able to tell you if homeowner pulled any permits.

Post: Tax Strategies for Flipping

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

holy crap, all this time I thought that I would only be taxed capital gains if I held on to my flip for a year and a day...dang it, I really need to talk to an accountant!

Post: Vacant property theft of hot water tank - alarm system

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

please keep us updated on your alarm install. might have to get it for a couple of properties I have.

Post: Tenant wants to make improvements. Should I let them?

Mel C.Posted
  • Flipper/Rehabber
  • Middlesex County, NJ
  • Posts 29
  • Votes 8

I wonder if there'd be any liability issues, i.e. they cut themselves while installing the linoleum....