All Forum Posts by: Mel Cosio

Sayreville is next town to me (I'm in East Brunswick). My concern with Sayreville properties is the flood zone; make sure you do your due diligence. Otherwise, decent town, more blue collar. Just my opinion.

Hi, all. closing on a property in Moorestown. Will be reno-ing out and up, going from 800 sq ft to roughly 2200 sf. Already have the plans, just need a GC/builder because my regular guy is tied up with my project in Maplewood. Any re'cs for GC's/builders would be much appreciated!

Edison, East Brunswick, Metuchen.

Happy New Year everyone.

I need a new GC.

I've set my goals to purchase at least 1 property per quarter for flips. My current GC does great work but just takes too long to do a project. Consequently, I am looking for new GC's to work with that can take on decent-size projects and will get it done quick. As reference, I've bought cape cods that I've added a whole second floor to. Another project involved taking down walls and new mechanicals.

I am looking for experienced GC's (at least 10 projects completed) with verifiable projects/references.

My main area of focus is Central NJ. Please reach out if interested, let's both make money, thank you!

Good morning.

I've got a realtor in place who has connections with local GC's. I am in need of a project manager to oversee the rehab (will focus on flips). Appreciate any rec's that members can provide, thank you.

Will be in the area visiting family after christmas, I hope to meet some of you for coffee and Krispy Kreme's!

looks great, good luck!

Question for the experts: pay child as an independent contractor or as an employee? Pros and Cons?

Wow, thanks for the detailed response @Ashish Acharya. Can't believe it's so complicated.

So my LLC was originally set up as a single-member, and then I changed it to multi-member because I had 2 "friends" who wanted to put in money for the reno. Well, they were a no-show - no monetary contributions were received.

Since it was originally a single-member, then changed to multi-member, now want to change back to single-member with no money changing hands, do I still need to do what you stated in your response?

I need to convert my multi-member LLC to a single-member LLC, is IRS form 8832 all I need?

Appreciate responses, thank you.

Lots of strategies out there, but to me, It all comes down to numbers. Location is important obviously, but to me, numbers are more important.

Figure out what percentage you want to make as a net profit. Once this is determined, plug it into a worksheet and see if it makes sense. Factor in your buy price, your rehab price, your realistic sale price after rehab, your carrying costs (utilities, taxes while rehab is being done), your closing costs (both on your buy and your sell), agent commis, realty transfer fee. If you still get to your percentage number, go for it!

Good luck.