All Forum Posts by: Andria Kobylinski

Thank you @Account Closed. Any other expenses that could follow the property?

Thank you @Ellis San Jose and @Matthew Paul. Both good advice, You've confirmed what I was thinking. Just looking for those extra little due diligence items I can do. Checking the meter is a great idea. 

Hi, I am looking for some advice on how to estimate rehab costs on an auction property. I will not be able to access the property before the auction. Is there a way to find out if it is occupied? Do you use a price per square foot model? I'm guessing wear and tear on the outside will mimic the condition on the inside. Advice? Tips? The property is in Richmond, VA.

@Erica Billie you should also check out the local REIA meetings...tons of people, great way to make connections!

https://www.richmondreia.com/d...

My city, Richmond VA just announced a large $350 million casino development with hotel restaurant spa etc. The development will go in an area that currently has very low house prices and mostly section8 tenants but the neighborhood is "flipping". What are your thoughts on investing in a few rentals or an Airbnb's in that area. My initial thought is that it won't necessarily increase the home values but could be a great rentals with low vacancy rates? Does anyone know if these Indian casinos usually have affordable rooms or are they more high-end?

@Brian C. super helpful. You really wrapped my head around that well. Thanks!

Note question. I have been doing tons of research on the note space and feel like its time to jump in and get my feet wet. I am looking at a small performing 2nd in Virginia. The first is performing and there in plenty of equity coverage on the second.

What other due diligence do you do on a performing second? How much do you typically bid? Is it based off of the unpaid principal balance? (Which in this case is about $12,000 at a 7% interest rate?)

Thank you!

thanks @James Wise have a favorite company?

What is your favorite turnkey company and/or location nationwide? Any turnkey companies the work in vacation markets? (would like to be able to have Airbnb/VRBO option).

Though long term equity is of course important, my primary goal would be cashflow.

@CJ M. Right, make sense. Just out of curiosity....Do they not check credit on a re-fi? 

@Costin I. Thank you for this feed back, that reinforces the strategy I am leaning toward. 

So I'm thinking, use HELOC for renovation and the cash I have at hand to continue doing flips...flip profits used to purchase notes....note cashflow to pay down HELOC (which will eventually just be cashflow). Once I pay the HELOC down I can use it to buy more notes, correct?