All Forum Posts by: Nam Hoang

Hi, i'm a new construction builder and I'm looking to find wholesalers in the Northern NJ area who can source potential properties.  What is the best way to find local wholesalers?

Hi, I am looking for some help optimizing the set up of my LLC's to get business lines of credit, and would like to hire a credit consultant to walk me through the best practices and answer questions about my specific context. Does anyone have any positive experiences that they can share and recommend referrals? Thanks!

@Karri Dick

If you can afford it, go with 100% commission and pay for your own training. The training that you get from the big shops isn’t worth the huge cuts they take

@Jacob Stokes you should just ask your realtor why she thinks that the seller doesn’t care about cash instead of trying to hypothesize. It very well could be true, some sellers don’t have the experience of a deal falling through due to a financing contingency, and some just flat out don’t care and want their magical number. The price and terms of your offer have different values to different sellers, it really depends on the context of their situation. That being said, I don’t think your offer is a lowball, it’s worth writing up, especially if it’s been on market that long.

Hi everyone! I'm working on my first flip, about 80% completed with the project.  However, I've run into a bit of a blocker with the retaining wall on the left side of the house and the front lawn.  The wall on the left side of the front lawn was originally just a bunch of rocks stacked together, with no mortar holding it together.  The retaining wall on the left side of the house is a rock wall with limestone plates/caps, not in great condition and a couple of the caps are cracked.  We had a mason come by and he put some mortar in between the rocks on the left side of the front lawn, which looked decent enough, but then to address the retaining wall on the left side of the house, he removed all the plates/caps off the wall and replaced them with the extra rocks (more like boulders) we had.  See the before and after pictures.  As you can see, it looks terrible, and I'm hoping someone can give me an idea to address this problem at a reasonable price.  Also, the fresh mortar on the wall in the front lawn highlights how old the wall on the side of the house is, do you guys think i'll need to repoint the old retaining wall or is there a cheaper option?  Should I find some smaller rocks to replace those huge rocks or should I just get some bluestone caps?

BEFORE

AFTER

@Megan Brooks: It's new.  Do you know what the range would be for a replacement?  Thanks for your data point!

What are you guys paying for a licensed plumber per fixture?  I got a quote of $800/fixture, is this reasonable?  Any referrals for the Northern NJ area would be very much appreciated!

Hi! I'm working with a small team, looking at various financing options for a fix and flip. Due to coronavirus, many banks are not offering portfolio loans, but they are offering conventional, SFH investment loans, which would be in a personal name, not the LLC. My question is this, if the conventional, SFH investment loan is in one of our names, can we a) put the rest of team's name on deed and b) can we pay for the mortgage through the LLC, and therefore be able to claim the mortgage interest deduction?

How far along are you into the deals that you don't want anymore?

@Jim K.@Mike McCarthy, I think I figured out what those protrusions are.  They are called "clinker bricks", for the sound that they make when struck together.  They are the bricks that are exposed to excessive heat, likely because they were too close to the fire when made.