Randy Kuhn 908-510-2473, RandyKuhn@tristatemixer.com
CONTRACTS -- Use these as you see fit
Contractor Meeting Interview Sheet
Quote Itemization Form
Project Repair Estimate Form
Indemnification Insurance Form
Independant Contractor Agreement
Change Order Form
Contractor Lien Waiver Form
75 Arlingotn Scope of Work
MLS Access: www.mls.gsmls.com User Name is 282823 Password is striker18
www.NewJerseyMLS.com User Name Randolph Kuhn Password is IBL18
MLS ACCESS GROUND RULES:
1- Do NOT share this password with anyone under any circumstance.
2- When you try to log on, if a box appears saying "another session is logged on, do you want to terminate it", repsond with "NO". That means someone else is currently on and you have to wait until they are done. I may get fined is you boot someone off!!!
3- When you are done, please "Log Off" on the top right of the screen so that others have a chance to utilize the service.
4- Please limit your use at any given time to no more than one hour allowing others the chance to log on.
5- Please log off every hour at :55 minutes. This will allow someone else to log on between :55 and :10. If you go back on and it is free at :10, then you are free to use it.
I.E. You logged on at 1:25, do your work, then log off at 1:55. Wait til 2:10 and if no one else is using it, then you can go back on as no one else is trying to get on.
*****Tip*****: When you find whatever comps you want, select/check all the properties you want and email them to yourself through the email link so you will always know what you searched/found when you come back another time or another day and dont have to start all over.
This MLS is a priveledge i am extending to the group to make things easier for you and i expect you to respect these rules unconditionally.
Class Schedule:
Sat 10/20/2012: Understanding ARV
Sun 10/28/2012: Evaluting Homework ARV, understanding Scope of Work and Property inspection prep for understanding what to look for in a rehab and basic pricing.
Sun 11/4/2012: Class Canceled due to Hurricane Sandy
Thur 11/8/2012: Make Up Class - Inspection 2 Lynn Ct Edison NJ followed by Inspection 75 Arlington, Jersey City NJ. Taking Notes for Writing out Scope of Work homework assignment.
Sat 11/20/2012: Evaluate 24 Deerfield Sayreville. Check out 4 unit and 6 unit in JC for potential acquisition possibilities.
Sat 11/24/2012: POSTPONED due to lack of scheduling committment from Contractors and Agents. Communicating with Contractors and Evaluation of potential crews
Meeting Place 97 Oraton Street or contractors Jobsites TBD
Sat 12/1/2012: Meeting in JC to review where we are at and go over interview sheets. From there go evaluate 3 multi family properties.
Sat 12/8/2012: 97 Arlington in JC. Schedule contractors to interview and bid on the properties scope of work. Possibly check out a property or two.
****NOTE**** No Class the weekend of Dec 22nd for Holiday
Home Work Assignments: (Please have this done for next class discussion)
10/21/2012: Determine ARV (After Repair Value) For the following properties
13 Goldstart Drive, Franklin Township, NJ
2521 Smith Street, Scotch Plains, NJ
Remember, identify the subject property first (check all status' and insert the specific address) and map it. Open another session by clicking on my name and search for the comps within the same vacinity.
Any questions, comments or if you forget a step, POST IT.
Comments
hey guys, i see the need to want to go to other seminars, I have regular client on sundays. so what i can do is on the saturdays where theirs another seminar ok lets do our sunday rehab class, on the days where their isnt another seminar outside of our class lets keep those days on our original saturday class.
also for during the week either tuesday or thursday are the only days that work for me.
michael
Hi Randy,
I concur with you. It is fine with me if you move our classes to Sundays. Also, let us make detailed schedule this weekend so that we can plan taking time off on we have to during the working days.
Thanks,
Trinadh
Guys,
A lot of the TriStateMixer workshops are scheduled for saturdays. As there are topics that people are always interested...IE buying discounted Notes, or buying tax deeds, etc. I am looking for a concensus on having class on Sundays versus Saturday.
I have already had a request to attend the upcoming saturday events and the same thing happens in most other classes. However, everyone needs to be on board or we will stick to saturdays and if someone wants to attend another event, then they will just have to miss out on the class for that day.
Additionally, next time we meet we will go over a more defined schedule as we will have to plan something for a weekday as in the rehab business, most things happen during business hours during the week.
Please let me know how you feel about sunday classes.
Email me at RandyKuhn@TriStateMixer.com to keep in confidential
or feel free to post if you dont mind all seeing your response
Thanks
Hi Nick and Randy,
I have a request to you and to other members of this group. I have long planned a trip to travel outside NJ. As a result I will be away between Nov 2nd and 5th. With that said, can you move the 11/03 class? I am fine if the new date is any time before or after, as long as it does not overlap the time when I am away.
Thanks,
Trinadh
Randy,
To find 2521 Smith Street, Scotch Plains, NJ I selected Union County and scotch Plains township. Also checked all Statuses. My serach results are still showing zero. What am I doing wrong? Same thing happening with other property "13 Goldstart Drive, Franklin Township, NJ". For this i chose Somerset County and Franklin Township.
There is a way to get all comps and the subject on one screen, but i dont want to add something i havent had the time to show you, so i just do two sessions (by clicking on my name on the top right side of the screen).
Regarding comps, for all intense purposes, the vaule comes from sold only not active. A property is still active for a reason...the price could be wrong. If you have 6bettina solds, you need to identify which one are most similar to the subject in terms of area, pproximity to ours, and condition to what we r going to renovate like. From there, find the common ground and be conservative. This is not an exact science, but this way will get u close enough for our purposes.
Remember, email yourself the comps so u have them later
ok im getting their so another ? then im gonna log off because been on for an hour. as for comps look at sold comps or ones still on market? so say their are alot of comps I should choose 6? how to determine the right ARV and then add to formula? thanks for your patience.
also smith st is only found under xd what does this mean? and how can I get it on maps with other comps together. it only seems to show alone on maps?
2 per your message, yes that is the formula, but dont go off of what a property is listed for. We have to find comps, determine what we think is the right ARV and then add that into your formula.
For the assignment, we r just looking for our all in price (ARV x .65), so no need to think about repairs.
ok so now 2521 smith st. is $309,900 x .65 = 201,435 is all in price after repairs.
just say $25,000 for repair so, 201,435 - 25,000 = 176,435 MAO.
how to find ARV?
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