All Forum Posts by: Brandon Hicks

I installed some Tarkett wood laminate in a couple of properties a few years back and have experienced it coming apart on the short side in a couple of places in both properties.

I've also seen this in many other properties from just looking at deals.

Is this due to improper installation? If so, what exactly is the issue?

Are there other brands where this never seems to occur?

This sounds exactly what I've been mulling around in my head as my next phase to building my rental business!

So far I'm at 28 units and most of them have been purchased using land contracts and then later refinancing with a local bank. I'm in the process of refinancing 5 duplexes on contracts now into a single new commercial blanket loan right now and should close in the next 2 weeks.

What I'm hoping to accomplish next is have one of the 3 sellers I'm paying off with the refinance lend me $40-50k as a blanket 2nd mortgage on these 5 duplexes. I'm shooting to have the money for 4-5 years at 7-9% interest with interest-only monthly payments. I'd take that money and purchase, rehab and rent a foreclosure/distressed property and then find another private money lender to lend me what I have in that deal as a new 1st mortgage. Then I'd have my original investors capital back to rinse and repeat.

Hopefully I can do 5-6 of these deals in 6-12 months and after holding the properties for 12-18 months I'd take them to my bank as a package for permanent financing.

Why not do both???

Start focusing on creative no-money/low-money down payment buy and hold techniques vs conventional financing and use your cash to kill the personal debt.

Why don't you call the repair guy?

Small local banks that hold loans for their own portfolio would be your best bet. I'm refinancing 5 duplexes with one right now.

Welcome to BP! I'm a buy and hold in Kendallville, Indiana.

I just did a 1 bed duplex apartment for $858 materials and labor with the products I mentioned above. The apartment footprint is 616 sqft.

Ive been using Shaw Jules carpet from Menards in Brown Stone for a couple years now. Its a frieze carpet and is pretty much always on sale for .69 a sqft and pad is .25 a sqft. Sometimes, like last week, they offer a .25 cents a sqft pad rebate making the pad free.

I use Tarkett Eclipse vinyl in Beige Slate for kitchens, laundry and baths. Its typically on sale for .79 or .89 a sqft.

I mainly have 1 and 2 bed apartments.

I know nothing as far as SAFE act so Ill just comment on payment method.

Have them deposit the payment directly into your bank account from here on out. They go to the bank and use a regular deposit ticket. For them they get a receipt from the teller and they save a buck on a money order since they can deposit cash.

23 of my 28 tenants use this option.

I was part-owner of a real estate office with 4 other people for about 5 years. After getting out I went from 4 rental to 28 units within 2.5 years. I can show on paper where I actually lost around $50k but I prefer to say that the business cost me millions. This is due it distracting me for 5 years from building a portfolio. What's done is done and now I'm coming up on 3 years out of the business and I've accomplished more than I had planned on at this point.