All Forum Posts by: David Travieso

Unfortunately, excess moisture needs to be dried out in the kitchen ceiling which is also the bathroom floor (great!). So the the only bathroom is going to be out of order, possibly for about 3 days maybe more.

Any feedback or helpful tips on how I should approach this with the tenants?Should I waive their rent so they could use that for a hotel? Or have them pay the rent as normal then deduct it from the hotels bill on the next months rent?

I'm in unfamiliar territory and not sure how to go about this. If anyone could help, that'll be great. Thank you very much.

Dave T.

1 Vote

Good day BP family,

So I have my first investment property on the hook. With the interest rates on the rise, my lenders initial quotes changed drastically. Now it's 20% down 1.365 pts at 7.625 rate.

This led me to seek out other options. I recieved a 25% down with 0 pts, 7% rate 5/1 ARM.

In both cases my plan is to refinance IF rates ever drop.

Now the 25% DP is a bit out of reach for me but if it worth paying it up front then I would definitely consider it. I know it will lower my mortgage which will increase cashflow but not sure how I feel about ARM loans.

Is it worth getting an ARM? or should I stick with a fixed rate?

Thanks in advance!

1 Vote

Good day BP family,

I'm a newbie investor looking to finally take action of my first property. The last two years I have read and heard that it's better to buy distressed properties so you can add value (equity) to it. Which makes sense.

With that being said, I'm a bit scared of biting off more than I can chew. I don't have much experience with rehabbing properties.

I see properties fully renovated and I think " wow, all I need to do is buy this and then rent it out." But of course the numbers need to work.

If I plan on holding these properties for the next 20-30 years, how much importance should I put on adding equity? I prefer positive cashflow if I had to choose.

If there is any advice or helpful tips, I greatly appreciate it. Thank you ALL!

0 Votes

Good day BP family. I’m in the middle of purchasing a duplex with one unit occupied and the other I’m going to live in to make it my primary residence so I get a lower down payment.

The problem is, I don’t know how to even begin to discuss the current tenant with the owner. My realtor mentioned that they’re on a month to month lease and is paying less than the current fair market value. Legally, I don't know what to ask the owner about the tenant and how to move forward when I take ownership. Please if there is any advice anyone can share I would greatly appreciate it.

Thank you.

0 Votes

Quote from @Bill B.:

If you don’t know what you want the gc to fix, then you need the inspector to go first. You might find many of the inspectors finds aren’t gc material anyway. HVAC, plumbing, electrical, things where you’re just going to call a specialist.

Great, thanks for that heads up. So technically, am I the general contractor? Coordinating and scheduling all the different specialists to do work? Not a problem, but I thought a GC does that.

0 Votes

Quote from @Bruce Woodruff:

You always do the Home Inspector first to get an unbiased view of the issues. It's nice to have a HI who is licensed, but then you don't want them doing the work because of the conflict of interest potential.

Have the HI do his inspection which will produce a report. Give this to a GC and have him develop the Scope Of Work and give you a budget. The GC might also notice additional issues during his walkthrough....

Thanks, I greatly appreciate the advice.

1 Vote

Good day BP family. I'm pretty new at REI, but it dawned on me as I was in the middle of a negotiation, who should view the property first, the Contract or Inspector? I'm sure I've read and listened about this but when you're actually doing it, it's a different story. I've also read it's a good idea to get a GC who is also an inspector which seems ideal to me but if I cant find that, I'll have to choose. Any advice or helpful tips would be appreciated. Thanks in advance.

0 Votes

Hey Kevin, great post, very informative. Can you explain the process of purchasing privately by owner? I'm a newbie investor and I want to find deals off the MLS but not sure how to even begin the process of dealing with a private owner. Thanks.

0 Votes

Good day BP family,

I'm asking the BP family for some helpful advice. My name is David T. and have been living in Locust grove, Georgia (40 min south of ATL) for the last 4 years from New York. I've been offered a promotion in Warrenton, VA, but not sure if I will accept. Throughout this pandemic I have really been putting my efforts into real estate investing education. My plan is to start taking action in early 2022. Now with the job offer, I'm not sure to stay or move to VA.

I'm looking at the housing market in VA and it seem much higher and more scarce than Georgia. I do like the promotion but in the grand scheme of things I want to retire early through real estate investing. And it looks like Georgia has more volume and cheaper. If anyone with helpful advice, thoughts, please share. I'm sure we can get a good conversation going.

Thanks all, have a great day.

3 Votes

All Forum Posts by: David Travieso

David Travieso has started 6 posts and replied 9 times.

Post: Tenants need to Vacate for a few day while maintenance is being done.

Post: Is ARM worth it for 1st property?

Post: Is it worth buying fully renovated properties for long term investing?

Post: Buy a tenant occupied property-This newbie needs help.

Post: General Contractor or Inspector who should view the property 1st?

Post: General Contractor or Inspector who should view the property 1st?

Post: General Contractor or Inspector who should view the property 1st?

Post: First investment property

Post: Better for newbie REI - Georgia or Virginia?