All Forum Posts by: Ben McMahon

Cabinet giant has RTA cabinets that are nice and cheap. Go online and order. The other stuff the same. Local lumber yards have better prices often than Lowe’s for doors and windows. 84 lumber does.

The old me would have said you should leverage to the hilt, but I’ve changed and so has the market. Definitely get rid of the pmi, and refi. You probably aren’t going to find a better deal than what you got in 2011. If it’s an easy rental I wouldn’t give it up unless you have something really great lined up. That being said, I’m also of the mind that you will never time the market perfectly, so it makes sense to sell at any point you know you are coming out on top. What’s your side business? Would a little cash injection boost it? I would look at that too. Or find another small business that spits out money. I bought my first in 2009. Haven’t bought anything since 2015. I’m currently selling most of my stuff. I’m paying off all my debts and padding for the next downturn. I flip houses with other investors but don’t put my name on it because I don’t want to get stuck. I do the rehabs and either split profits or take the gravy on the backend. There are a ton of options out there. I also have a PM company, lots of ways to make money in real estate.

My old stomping grounds in Binghamton probably wouldn’t do much good. But I’m cheering for you in my new life in Virginia.

I started reading other posts and than saw how many there are. So forgive the repeat. Do it yourself. Learn a ton, and than sub it in the future if you need to. Everything is on YouTube. Everything. I’ll look at it if you want. It’s fun

You really only need the toilet to always be working while you are in the condo. Which depending on what type of flooring you put down, it could work. I would renovate the bath while you figure out your plan. I’ve done a ton of bathroom remodels and the range is massive. I’ve done them as low as 3k and as high as 30k. And they go higher than that. But if you plan on renting you could put down some cheap vinyl that looks decent. If you buy all the material and hire a handyman you might be able to get away with 3500 or 4000. I’d probably agree with the others though. More reasonable is going to be 6k.

My dad just built a duplex. He is a GC and he partnered with another guy. I’m pretty knowledgeable about investment strategies and there is something to be said about the red tape. Why not go bigger? But I think he will make a little money, and he also keeps his crews busy during the process which can be nice to have a project that’s flexible. I’ll let you know how it goes. The market here is pretty warm, so I don’t think he will have a hard time selling and hitting his margins when he sells in the spring.

Northern va is tough for cash flow. If you want that you need to come out to the wild Wild West

I’m in Front Royal and would do it. I’ve got an office and conference room if you want to use it for the meeting.

I would agree, and take it a step further and talk to a couple different contractors locally. Go look at some deals with them and get as much square foot pricing you can. Just make sure to give them a shot at doing the work when it comes time.

A lot of variables, but I think it's a good strategy. I've done it a few times. The value can really go up with that extra bedroom. Best is converting a 2 bed 1 bath to 3/2. Just build a little addition off the side. Have a contractor give you pricing and include permits, than do a cost analysis. Depending on the area it works. Doesn't work as well in lower end areas.