All Forum Posts by: Claudia Bonaudo

Oh and by the way of someone knows what happen with taxes, I'll appreciate that advise as well.

I guess sometime I heard about reinvesting in Real Estate so you don't have to pay a lot...

@John Hickey thanks for your advise, today I'm going to see a contractor and I'll ask him the basic stuff you told me here.

Ok, this is what we got...

My mom bought a condo (140k) 6 months ago with the idea of renting it and have a passive income, long strory short the HOA didn't allow her to rent it, just for her (or family) to live in, so now she is thinking about selling it again (she doesn't live in the US).

She got a very good offer (170k) but I think that the market in that area is still growing because of the urban developments there (shopping mall, convention center, etc).

On the other hand the apt is empty and it's costing her around $400 in HOA fees.

What would you do? Do you sell it or hold it for a while?

Thanks!

Hello everyone!

Can someone advise me with these one?

If I hire a contractor do I have to give him a contract or do they give me one? how does it works? what is the important things it have to say to "protect" me?

Also, do I have to give them a 1099 form, I'm new to the country and I'm learning about taxes and all this fun stuff!

Hi @Branden Kline, congratulations! First of all you are willing to do this and you will!!

I'm one step ahead of you, just found my first investment property and I'm about to close the deal, in my experience and what I didn't do (because of no credit history, I moved almost a year ago to USA)  is to first look for a mortgage, many people told me about going with a mortgage company instead of a bank.

In the meantime you can also talk with a realtor and tell them what kind of property you are looking for, it will take a while to find a great deal!.

You can also keep reading, learning and getting all the knowledge you can to take control on your first deal when you find it.

Bigger Pockets is the best source of doing all that.

Regards,

Claudia

Hahaha, thanks @Mike H., I'll take your advice!

Thank! @Danyiel Brown

@Joe Villeneuve  that's exactly what I needed!

@Denny Le I'll keep posting how my project is going! 

Hi everyone,

I'm about to close my first deal and I need to do some renovations.

Kitchen

Paint

Repair windows

Floors

So I know I have to hire an electrician and a plumber but by any chance someone could help me with a good contractor/handyman contact and by telling me what should I do first?

Painting, then change floors, then windows, or does windows and kitchen is first and painting is the last, or floors are the last...I know you get where I'm confused.

Thanks!

Hi @Don Souza, I just read this article in the march issue of the Consumer Reports magazine. Hopefully it will help you.

(I don't know why the picture came up like that)

Thank you so much @Dustin Heiner, that's a great idea, I'm used to search in yelp but basically for restaurants and I always forgot that many services are rated there as well.

I'm following your advise and suggestion and I'm going to start building up relationships in this field.

Thanks again!