All Forum Posts by: Matt Buckles

Good Morning!

I'm looking to purchase a SFH in Southern Pines, NC. I need to find an agent/broker who specializes primarily in investment properties. Looking to purchase in cash. Do not necessarily need "a home run" Prefer to purchase at discount and rehab.

Looking for 2+ bedrooms 1300+ square feet. 

Thanks for all of the replies everyone.

Plan: Redguard and porcelain tile main hallway kitchen and bathrooms which is roughly half the condo. For the rest install carpet with stain resistant pad 8lb pad and the carpet is made from recycled water bottles. Going to pick out tile today and contractor should have everything ready for me to move in next week.

Here are my numbers for this property

Purchase price: 112,620
Comps in area: 149-165,000
20% down 3.46APR
180 hoa
Expected rental income 1200-1325 (after 1 year to satisfy hud).
Mortgage+insurance+taxes+HOA=780.

S

Hello everyone been lurking for a while. Just purchased a foreclosure condo in Tacoma, Washington area. The cement floor underneath the carpet apparently has no vapor barrier. The HOA representative said that in a law suit all they were able to get was enough money to drain around the exterior of property. Obviously it rains a lot here and you can definitely smell the moisture smell when you first walk in. Tore up the carpet and have found some cracks as well. Obviously I need to fill the cracks prior to trying to seal the concrete.

I am wondering what your recommendations are for what to put on top of the concrete. The inspector said it had a higher gloss which would make acid etching difficult so I'm trying to decide if I should just try and seal it with some sort of paint/sealant, and then carpet. Then encourage my future tenants to run the house circulating fan 12 hours a day.

I will be living in the property for one year and then plan to hold for 10-15 years as a rental.

In a mid to high end neighborhood so I think laminate is out of the question.

Thank you in advance!