All Forum Posts by: Braden Downs

@Cassi Justiz do you have any recommendations on lenders to work with, concerning purchasing multi family for a house hack? 

Good info being shared. 

If you found a single family house with a garage apartment, would a FHA or conventional still treat as a SFR or would they say it's duplex?

Curious because I was trying to piece together how it would be possible to goes back somewhere new every 2-3 years. 

The highlands (Wiltshire to Britton, western to Broadway) used to be a major gang territory. It still is, but not at the levels it used to be. It’s a high crime area; there’s a reason the federal government gave PD funds to identify gang/criminal activity last summer. This is not a comment to speak on the numbers, but the quality of the neighborhood. If you identity the east side of okc as a C class, then this is about in line with that. 

I would personally never live in the area, though they are trying to make improvements. New businesses are opening on Britton in the 900 west block (coffee shops, art galleries, barbers, etc). The apartment complexes around the area are a lot rougher. The one on the SW corner of Britton and Western has multiple shootings/killings. 

In choosing a conventional v FHA loan for a multi family, do both allow you to count 75% of the rents toward your income to help qualify? If not, why does one allow for it and one not?

@Bob H. Hey thanks for the response. I tried taping and caulking a straight line on to make the grout line thinner, but it didn't work to great. The tape had a hard time dealing to the grout and some leaked through.

@Chase A. Go to your Lowe's or Home Depot, they have a ton of books by the registers. Also, find one with damage on it and ask for a discount. I got 50% off because the edges were torn.

I think it was titled Home Renovation 4th edition.

Hello, we remodeled our kitchen

and overall it turned out great, except for our backsplash.

I thought the installer would apply a thin edge of black grout to the edge, but instead he applied a huge finger width glob and it looks terrible. He also tiled over one of my outlets so I can't attach a plate. I learned a lot about scope of work, communication, and expectations......

I need to go back and fix the edges of the backsplash on the open edges on the wall and around the window (under the cabinets will be fine).

Should I:

A) Remove the black grout on the edges and install pencil trim?

B) Remove the edge tile pieces and re install new tile pieces with metal trim?

C) Tape my tile and just paint over the grout?

D) Find the guy who installed my tile and punch him in the face?

@John Collins Hello, we just remodeled our house and I'm happy with the quartz.

We went to a local builders grade store (Builders Warehouse) and bought cash and carry slabs, then we just found a worker at the store and hired him independently to install the tops and sinks. All in all we paid under $31/ft for quartz.

You can get less thick countertops which saves you some money (who cares about 1cm in difference). Also, remember the extra costs of install. The sign may say $34/sqft, but they will charge you extra for your sink installation, cuts for faucets, and any weird angles, etc.

@Roxanne McClain $500 for four SEPARATE houses seems low with the risk. Four different roofs, water heaters, tenants, and etc.

Could you hold out longer for a multiplex offering a similar, or even smaller cash flow, only to have your repairs, capex, and vacancy be smaller?

Also going from zero to four houses could be a big jump, just depends on you and your situation.

Good luck!

@Chad Dougherty congrats on the flip. Pretty interesting you used student loan debt lol.

What kind of improvements did you make with the $5k?