All Forum Posts by: Alicia Yoder

@Chris Seveney thanks Chris! I can personally paint it way cheaper then paying someone to install siding but good to know I have a solution should it be an issue at sell time!

Thinking of purchasing a home to BRRR. Was curious if I can just paint asbestos siding and when I go to sell in a couple years would that be an issue for someone to get financing?

Just wondering if anyone knows of a CPA in the Dallas, TX area that specializes in the Real Estate Tax world?

Does anyone find that oil based white paints hold up better? I’ve always used Sherwin Williams latex whites but man they get dirty easy. Was curious if oil based resisted dirt better?

@Tee I’m not sure the legal aspects of it all. Sounds like it could get hairy though. Why not just purchase the property from her then you rehab and sell?

@Sarah I would suggest doing some demographic research. Investing success in my opinion is directly correlated to job supply/growth. What is your target market demographic wise? What kind of jobs are they seeking? Where are these jobs at? Decide your end user then research where appeals to them wether it’s jobs, entertainment options, costs of living. I am from a small town in TX and my target market is 25-40 year olds with degrees. I find most of this group gravitate towards bigger cities like Dallas, Austin and Houston. Smaller cities don’t offer my demographic decent paying jobs so they leave and never come back. What my small town does have an abundance of however is low income renters. There’s a market supply everywhere but you need to just narrow down what you want that market supply to look like. Hope that helps! U.S Bureau of Labor Statistics is a good place to start!

@John I don’t know anything about this but just intrigued and service a rural area as well. Are you implying taking large country homes and renting to multiple tenants in one space?

I agree wity @Jason. Think these numbers are a little too conservative for the rehab/holding costs. If you could get the property for $150k then I think it would make more sense. But this is obviously without knowing the whole picture.

@Alexander are you looking to convert those dollars into more dollars now or later? Personally I think renting is a better play but it’s a long term play. Flipping is a lot of work. I’ve done both but prefer to have a tenant pay off my mortgages, pocket cash flow, and get the tax deductions. But it’s not a get rich quick play. If that’s what you want I would recommend flipping. Just my two cents but if I had 30k to work with i would purchase a value add property. BRRR the property pulling your money out and putting in a renter. Then go on to the next one. Keep part of that money in your reserves and use part for initial down payment to get you rolling. Hope that helps!

@Zach Barber tile in bathrooms and vinyl plank everywhere else. Laminate can chip. If it’s a pier and beam house you need to put a hardibacker or cement board of sorts down before you use vinyl. With an unstructured floor like that it will show imperfections and look really cheap without it. Also it will help the vinyl planks not get gaps between them as the house shifts. If it’s a slab subfloor you can get away with just the vinyl. Just my two cents!