All Forum Posts by: Account Closed

Going with laminate flooring that resembles hardwood is the way that we prefer. Laminate is cheaper than hardwood and more durable, albeit it can't be refinished but still provides a luxury feeling if you get a better quality selection than your cheapest Home Depot brand. If you go online to sites like ifloor or builddirect they will actually send you 5 free flooring samples for you to see and compare. They also seem to offer lower prices online and you get a better quality product, although you do have to pay shipping which can add to the cost. Laying laminate flooring is a job that you could do yourself easily as it typically clicks together and you just lay it down. Some this else to think about as you can avoid the labor cost.

Hi @Rachael Blackburn my wife and I are new to investing in the Cincinnati area. We are currently working with a realtor but was wondering if you would be able to send us the list of recommended contractors shot help us build our team. Thanks!

A home equity line of credit only works when you have equity in your house (I.e when you only owe less on your mortgage than your house is worth). Most banks will loan somewhere around the 70-80% LTV area. So if you bought a 100k house and only owed a remaining 50k balance, you'd be able to get a home equity line of credit for around 20k to 30k. If you put little or no money down you won't be able to get a HELOC unless you house appraises for a significant amount more than you are purchasing it for. Hope this helps

Great information Christian Bors - glad you clarified the commercial vs. residential I was unaware of that!

I think in our county you can only file a complaint from January - April and then they are sorted and processed with hearings throughout the following months. Without having done it myself, I'll defer to more experienced investors to answer that but I would aim for the months category. Best thing to know is that it can be done and will benefit you as long as you have a valid case for the valuation.

The easiest thing to do would be to appeal the property value to your county auditor using comps or a recent sale price. Many properties in this area have a value around 100k but are distressed and sell for 40k and the auditor will reassess the value and you will only pay taxes on the new 40k value. The worst thing that could happen would be them denying he request but it's worth a shot as it could save a couple thousand a year in taxes.

Jacob Nunn Awesome! I have a few other books I've been working on if you are interested feel free to pm me!

I know you said this was your first investment deal but do you own a primary residence? If so and you have enough equity you could pull a home equity line of credit to make up the remaining 10% (depending on how much equity you have) and then pay it off over time.

A second book that goes into much deeper detail on the calculations side would be "What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures". Much more technical of a book but also very informative. I'd recommend checking out both to start.

Honestly the bigger pockets book "the book on rental property investing" is an amazing resource to get started. Brandon turner did an amazing job and it was the first of many books I read and gave a great basic knowledge.