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All Forum Posts by: Andy R.

Andy R. has started 2 posts and replied 12 times.

Post: Real estate CPA

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7
Quote from @Basit Siddiqi:

Your profile mentions that you are looking for rental properties that require a lot of work. You want to work with a professional who will understand whether the rehab that you do would be required to be capitalized and depreciated over years or eligible to be expensed in the current year.

Furthermore, you live in New Jersey which has one of the more complex tax laws in the country. You may want to consider working with a professional who understands the NJ state tax laws.


 I emailed you Feb 7th and you never replied. 

Post: Real estate CPA

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

I am located in New Jersey and looking for a real estate cpa. I don't care if they are local. Thanks for your help

Post: How to handle issue with Flip project POST SALE

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

@Jeffrey Stasz Whats required in GA ?  

Post: How to handle issue with Flip project POST SALE

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

When you have the 1st & 2nd floor exterior walls insulated you need insulation between them in the floor joist area only along the perimeter and it only has to come in as far as the thickness of the framed walls. So the outside shell of the home is insulated properly.  You can insulate floors, bathroom & bed room walls for noise but its not required.

IRC - International building code for one and two family dwellings. I find that different townships are not all using the same year so some will go by 2012 irc code or 2009 irc code etc.. Here is a section from the 2018 irc code. 

N1102.2.8 (R402.2.8) Floors





Floor framing-cavity insulation shall be installed to maintain permanent contact with the underside of the subfloor decking.

Exception: The floor framing-cavity insulation shall be permitted to be in contact with the topside of sheathing or continuous insulation installed on the bottom side of floor framing where combined with insulation that meets or exceeds the minimum wood frame wall R-value in Table 1102.1.2 and that extends from the bottom to the top of all perimeter floor framing members.

Post: How to handle issue with Flip project POST SALE

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

Sara, 

Its not code to insulate between the floors (excluding along the ends, the outside shell has to be insulated). I only do it for noise when requested. I am working on a project that had water running down the wall on one section of the house. The moisture could have been coming from a few different things so I opened up the ceiling and it was condensation on the hvac pipe. The owner keeps the temp very cool and the guys had the doors / windows open because there were in and out all day long. Long story short its not your fault. 

Post: Potential deal - septic system

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

I am trying to remember the exact measurements. The plans for each bed were around 48'x24' 72" of select fill with 48" of select fill on top of that. with a 2' buffer around the stone bed. I think it was around 500 cubic yards. Thats around 600 tons @ 17 per ton delivered.  

Post: Pex or copper for resale value

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

It won't affect resale value but most people will use Pex because its cheaper. I personally like copper but its costly. I would call the township plumbing inspector to make sure you can use either. I had townships in Pa. that required copper so we had no other choice than to use it.

Post: Potential deal - septic system

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

Way too high? I was planning on doing my septic with my father who has been installing them for 30 years but he got very sick. Before talking to the engineer I am dealing with now I had a plan for 2 separate sand mound systems one house was 3 bed the other 4. The sand alone for each system was over 10k , Tanks were 4k, Pump was 1k, engineer cost was 1900 to draw the plan up and get county approval, another 1250 for inspections and as built plan after completion, Still have to add stone, piping, cost to do all the excavation work, cost to get rid of the old tank, seed the ground upon completion.  If you have someone to do all of that for 10k-20k  please send me their info. 

Post: Potential deal - septic system

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

If you are replacing the entire septic in Nj on a home you would be looking at 45k for a sand mound system and new tanks. If you have two homes on one lot you will be closer to the 65k range. I have two homes on one lot which needs a septic. The engineer said there is no issue with both homes using one septic on one property as long as its sized properly. They would require their own holding tank but will use the same pumping tank and drain field. 

Post: New Jersey Security Deposit

Andy R.Posted
  • Investor
  • Hamilton, NJ
  • Posts 12
  • Votes 7

Paul - Not sure what little details you mean but all details matter. I also have no idea where the last months rent is coming into play? I never said it was their last month. They were trying to use the security deposit to pay rent for that particular month saying I violated the NJSA act. If you violate the NJSA act they can use the security deposit towards their rent whether you like it or not, you can say NO! but a judge will disagree. I was saying I did not believe I violated based on the written language below, and was looking for someone who has gone through this and make sure I wasnt interpreting it incorrectly. -

46:8-26. Application of act The provisions of this act shall apply to all rental premises or units used for dwelling purposes except owner-occupied premises with not more than two rental units where the tenant has failed to provide 30 days written notice to the landlord invoking the provisions of this act. (this exception is describing my property and I never receive a written notice from my tenants asking me to invoke the provisions of the act)

Judy- 1. Of course I have a lease. See the paragraph above regarding security deposits. Its listed as NJSA 46:8-26 that states my property is an exception and I was looking for someone who might be able to tell me if I was incorrect or not. 

2. I know security deposits cant be used to pay the last months rent. Not sure if you read my original post but I did not say it was their last month. 

Since you seem to have read up on the NJ / Tenant law can you please explain NJSA 46:8-26 for me? Is the exception not a real thing? If its not then why is it written?