Jennifer Petrillo
Central NJ 3/2 SFR flip, 40K profit
6 September 2017 | 6 replies
Purchase price 147KListed for 299K, sold for 285 (went under contract for 290 but dropped it another 5K at buyer request after the appraisal just to get out of the deal)Home Depot credit card: 10K (appliances, fixtures and other things we picked out and purchased ourselves rather than having GC use typical builder grade stuff, also husband did some of the work himself so bought his own materials)Brought 40K of our own cash to the closing table, loan total when paid back was 185 (original loan 175 plus 10K in accrued interest, 12 month balloon loan so we did not have to make payments during the rehab, which helped a lot with cash flow, also loan had rehab costs folded in so for the most part we paid our guys out of the loan and not our own pockets)So (numbers are round): 285 sale price - 185 (loan payback) - 40 (cash we brought to closing) - 10 (Home Depot card) - 10 (closing costs) = 40K profitWork done: insulation and vinyl siding (this ate 18K of rehab budget but was unavoidable as cedar shakes were disintegrating), converted to natural gas heat (ducts already in place, changed out electric hot air blower to gas one and gas company ran the gas from the street for free), replaced AC compressor, new water heater, two new bathrooms, replacement windows, new appliances but left the wood cabinets b/c they were in perfect condition and I could not justify painting/replacing them, new kitchen backsplash, removed wall between kitchen and dining room, wood laminate flooring throughout except for new carpet in downstairs den, painted the deck/railings, new garage doors, one new slider, all solid wood interior panel doors, of course fresh paint and new light fixtures throughout.dining roomThere was moisture damage downstairs from bank not winterizing and pipes bursting...thanks, bank.Hauled out enormous old woodstove and broke up ugly old hearth and left good flue for someone to add new pellet or woodstove to if they want to, we figured not everyone wants a woodstove and this way the buyer can decide to add one back if desiredBathroom off downstairs den, chose a walk in shower for variety, hosing off dog or muddy children, disabled access, etc.
Justin Koopmans
Would a Hard Money Lender Loan on this Situation?? Newbie ?s :)
12 July 2017 | 4 replies
These loans are specifically designed for what you want to do.
Eddie Egelston
What is taking everyone so freaking long???
17 July 2017 | 23 replies
The landscapers can be working when the interior is being worked on.
Tony Lin
Leverage existing 401k/IRA. Utilize SD IRA or SD 401k?
30 November 2018 | 25 replies
This feature is designed to allow you to access your retirement funds tax-free and penalties-free before you retire.
Greg Scully
Turnkey Inspection Results: Cracked Window Panes, what to do?
15 July 2017 | 6 replies
My highest priorities are: Safety, code, and opertions...things should work as designed.
Jake Oreskovich
EXTREME PET ODOR!! Please help!
27 September 2017 | 9 replies
That is often followed up by a specialty product designed specifically for pet urine that is fogged on.
Kevin Allen
Inventory, realtor's & investors
4 October 2017 | 4 replies
There are so many required disclosures and agency issues involved where an agent can stumble into trouble dealing with both sides of the transaction that many listing agents simply don't want to deal with an unrepresented buyer, or their brokerages require they designated separate agents to avoid agency issues.
Vick Galu
Business Cards
23 October 2016 | 19 replies
I designed it myself because their templates are pretty meh, so that helped.
Camronn W.
Container home project
1 June 2019 | 7 replies
They do seem to range from being similar to mobile homes on one end of the spectrum, to very well designed architecture on the higher end.
Kavi S.
Bostonian checking in!
24 August 2014 | 12 replies
What I love the most is designing things though.