All Forum Posts by: Steven Del Prete

@will Barnard great point on the lesson here to learn.

@Deshone Drummond let us know the outcome!!

Bill G. No studs are required to be replaced unless they are rotten from previous damage or age ect. same goes with the floor joist. I have been renovating properties from the storm and I've done both 4' up if they didn't get much water into the home and full tear out to the studs if they got higher water or mold grew fast.

Greg Smith The longer the home stays untouched the more likely it will have to be torn to the studs but its not much more of a cost. You just need to account for it in your offer.

The year the home was built will matter too. Check the sill plate of the home. I recently went to one that the sill plate was rotten from age and flood damage as well as most the joist. I will be tearing down the whole home and building them a new one. They got about 5' of water in their home but it was old and is worth the tear down.

Deshone Drummond I think its great that you've put yourself into a position to make good money from the deal. Most people don't understand about the cost of living here in NJ and even the cost of construction compared to other states.

I see everyone's side here about the words written but he has explained himself when all said and done.

To be honest I wish you were finding deals down by me. Though your not to far. I wouldn't mind if you bought the property for $1 and I don't see why it matters. As long as everything is legit and you are selling it to a rehabber with plenty of meat on the bone you are doing a good and fair deal.

All the best,

Bill G. It was salt water and went out as fast as it came in. As I mentioned in my post before yours the doors and floor are garbage as with fixing electrical ect. As far as sheet rock he mentioned it had 1' of water and by FEMA they want you to go 1" above water but its easier to just go a full board at 4'. Unless the mold grew higher then that which its been cold and in the houses ive been in here the mold hasnt been growing very rapidly. But I also mentioned he might need to take down all the sheet rock and just replace it. Its not much more money and will take away any future problems.

From my understanding about flood insurance is if the house has no mortgage then you aren't required to have flood insurance on it. That is why so many people are running into problems finding money to fix their damaged homes.

With a foot of water it touched all the outlets running around the bedrooms, living room ect. And they have to be replaced. You will need to have the floors ripped up and sub floor gone. You need to bring it down to the studs. You can go 4' up on the walls which is one board of sheet rock. And to the same to the insulation on the wall, as long as the mold hasnt gotton any higher then the water. Any ducts in the crawl should be replaces as well as the unit outside. All appliances that got hit with salt water replaced, as in stove hit water heater ect. All doors and trim and so on. It might be easier to take all the sheet rock down to the studs so you have everything open to air out and mold is taken care of.

Any questions shoot me an e-mail or call me. Be very careful of out of state companies and unlicensed and uninsured hacks.

Wish I had those prices here in NJ but I guess it's relevant to the sale price. I'm at $85-$95 sqft. That's hardwood through out and stainless appliances. Tile in the baths and laundry room. Of course no lot included but also from buying a lot with a home on it. Vacant lots have more cost with new utilities. For example a new hook up of water/sewer in my home town is $15k.

Anyway keep track of all your numbers and keep your subs on budget. Don't fall for the guys that say they can do it for way cheap only to keep adding up charges and costing you more in the end from either using them or having to find some one else.

Great idea on the pictures...I will have to get them up ASAP

That's why I would want to start flipping first to keep the outlay down and then in the future do both as I find the deals. Unfortunately just about all my friends/family live paycheck to paycheck so no funds there. In fact the only one with funds is to conservative to do anything with them, but I hope to change that when he sees my plans working and making money.

I follow your blog and enjoy it.

Just did thanks

I don't see one listed for you? I will be looking in ocean county for the most part all over.