All Forum Posts by: Christian Nachtrieb

@David Chi I went through the process of a cash out refinance. The bank will send out an appraiser, they'll come back with a new (hopefully higher) price on your property and you pull out equity from it to pay back your HELOC balance.

Just wanted to bump this, is anyone able to help out on this one? Thanks!

Hey BP,

I'm in search of a General Contractor for a large job out in Worcester, MA. It's a 3-family building that's in need of HVAC, drywall, insulation, flooring, etc. Framing, electrical, plumbing, and exterior siding already done. Does anyone have someone they could recommend? This is a little too big for me to manage myself and hoping for a local expert with help on this.

Many thanks, I would super appreciate any help!!

Christian 

@Blake Edwards Sure, it was nothing special I ran a small production company out of Boston. A larger out-of-state company acquired it looking to expand their footprint here and capitalize on our established footing and SEO.

I'm still a newbie, on the hunt looking for more deals, so for that reason I'm not actively contributing to any retirement vehicles with the exception being an HSA account. The rental income I'm making on the side is not producing enough to acquire new real estate on its own. In terms of employment, I was self-employed for 10 years up until recently when I sold my small business. Unfortunately payment terms are spread out, so won't be receiving a lump sum.

In the short term, keeping funds ready & willing in a high-yield savings account through Wealthfront. That's where I'm at.

That's awesome, came out beautiful, better than I'd say 50% of the Airbnb's I've been in haha. Curious how you handled the plumbing for the bathroom? By the way love Austin, great city.

I think it's area-dependent. Spend some good time researching your competition. Look at the listings where they're spending money on professional photographers to take pictures of the space. Are they including washer / dryer in the unit? Parking? Smart thermostats? Stainless appliances? Best thing you can do is see where you fit in the pecking order and take a look at what the people are doing who are charging more than you.

I think the easiest thing you can do and spend some money on is your curb appeal. The very first thing the appraiser is going to see is the exterior of the building or house. Whether it's a sub-conscience result or not, it's still the first impression they're going to be given of your property, make it a "feel good" moment. Landscaping is cheap. First impressions are everything, spend the couple hundred or a thousand bucks here in my opinion.

Agreed. Find a simple high-yield savings account online. There's a bunch of free ones that offer over 1.75% and easily accessible. I use Wealthfront.

Thank you @Evan Jacobs, certainly difficult to find but they're there somewhere :)