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And you will want to check with the Dept. of Community Affairs (DCA) in Trenton to make sure there are no violations due that must be paid before you get your green card. Their number is 609 633 6232. Any judgments they have against the property and owner SHOULD show up on title. However I still like to check by calling 609 984 7706.

take deposits then go and complete other jobs while putting you on the backburner. Now the Contractor will likely say he needs the cash for materials. If that the case I like to meet him/her at home depot/lowes myself and buy the materials. His guys get paid at the end of the week or phase after I inspect the work.

Your initial due diligence where you crunch the numbers for potential profit should have been done already.

You will want to check with building to make sure there are no open permits that you will be responsible for.

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Nike Jacket Women's

I know we spoke and I referred you to my guy, Carlos. If it Carlos then you fine (although I will still want Nike Hoodies Jd

What kind of Due Diligence should I be getting ?

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1, Now, since I'm rehabbing, can I factor that into the cost of the violations since I'll have to make sure the building is upto code ?

Let me know if you think this makes sense or should I drop this if 4 others dropped bid after finding this out ? Never ceases to amazon me how much I learning everyday.

Regarding insurance and securing property: Insurance is your safety net but should NOT be the only aspect of your safety plan. Trust me, I rehabbed in nice areas. You can still be a victim. What you don secure you don own so make sure the place is locked down TIGHT and that NO tools are left overnight. At least not any expensive ones. And your contract should read that the Contractor is responsible for theft of his tools and other personal possessions. Not you. If you need a good insurance guy give me a call and I give you my guy. He EXCELLENT in pricing and service.

to call him tomorrow to make sure he knows that he working off of my reputation therefore act accordingly). But I won vouch for anyone else. And there are ALOT of ripoffs out there who Nike Long Sleeve Red

I Have a certified house inspector coming for foundation, etc. Will he do mold test and basic termite inspection as well ?

He is giving me a contract and wants a cashiers check of 5K with contract signing. Is this normal ? Normally I just give regular bank checks for deposit.

Advice on steps to follow

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Property is in an awesome location in Union City. Price: 139. Rehab costs (including insurance,etc. 60 and I'm using 20% above contractor's amount)

Nike Jacket Women's

Nike Jacket Women's

2. The 9K in judgements, I can work with the RE broker and see if the property bid can be decreased by 9K ( I think they will go for it)

I am going to use it to rent out basically (Can realistically get 3500 a month total). ARV , conservatively, is about 290k. I have cash that i not using for anything (.25%) so I am not counting any holding costs.

Hi Amit. Good to see that you moving forward. To answer your questions:

Ibrahim Hughes, We Buy NJ Real Estate LLCWebsite: http://We Buy NJ Real Estate, LLC

The only other areas to be careful in are open permits and the green card (required for 3 units and up in NJ). You may also need architectural plans if you rehabbing in Newark (depending on hos extensive of a rehab you doing). I assuming Nike Sportswear Rally Women's Hoodie

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I used your info (Thanks again. I would've never been able to find this myself) and found about 8.5K in judgements against the property (for what , I don't' know) I also see that they have a bunch of open violations. I don't know what those are. They wont' give me the info.

I think that covers it. Call or email me tomorrow if you need to.

I found now that this is actually a HUD house and not the wholesaler's house. Wholesaler LIED (said he owned it free and clear) was trying to make a 10k profit but I found it online eventually and called broker directly. . I started working with broker and found it had 4 failed bids and recent one just fell through .

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Nike Jacket Women's

Money to your contractor up front is NOT normal UNLESS he your regular Contractor and you trust him. When you use hard money your lender will not forward the contractor any advanced monies and the Contractor knows this. He has to complete Phase 1, have it inspected by the HML and THEN he gets paid/reimbursed. So really the same rules should apply with your own money.

Here is the text from Broker w: "Amit, just so you have Nike Jacket Women's a jump on what is going on, there are many many violations and fines with the town. Try and get that info first, that is why 5 offers have already fallen through"

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If you dealing with a Wholesaler then title should come up fine. However if your wholesaler is new you need to make sure that he under contract with the correct owners and that there will be no surprises when title comes back. In fact when I wholesale I like to order title myself BEFORE I call rehabbers just to make sure I have everything worked out ahead of time.

the house is vacant?

That was awesome info you gave me.

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