All Forum Posts by: Damon J.

What are the pros/coms of floating versus glue down for engineered wood. I was under the impression that the floating option would be better if water could be an issue.

My concern with the floating option is that it seems to have a cheaper feel if floor moves slightly when stepped on versus glued down.

Appreciate it, This site has opened my eyes quite a bit.

You are 100% right about networking.

Thanks for your reply, guess I need to do more searching the threads.

I have purchased a triplex which I will be renting out. The purchase was made with a conventional mortgage and in my own name thus the best financing options.

Obviously it would be advisable to own this property in an LLC which I have not set up as of yet. However I have understood that technically it is not possible to get "good" conventional financing when purchasing as an LLC and could also run into issues by diong a quit claim deed on my current property to move to LLC.

How have others handled this?

When analyzing flipping properties in the Atlanta, Ga area I generally have a couple of concerns that hold me back and wondering what others have experienced.

Roadblocks

1) Transaction Costs eat away at profit. I do not have my own RE license and the commissions would seem to eat up profits quickly
2) No insider info in finding property. I can analyze and review listed REO's like the next guy so will I really be able to get a great deal on the front end? Am I looking in the wrong direction?
3) Don't have an established team to do a full rehab. I have completed partial rehabs in the past but have used several different contractors and have not found a reliable resource. Assume this will come through trial and error.
4) Is flipping possible in a declining market?

Appreciate any/all of your thoughts.

Rehabbing a bottom floor apartment which has damaged hardwood floors from a busted water heater. It is concrete slab and could be considered below grade as it is built on a hillside (only has windows on one side of unit). So you could almost consider this a basement.

Want to retain the hardwood look but am concerned with going with real hardwood and considering engineered wood. The former wood was hardwood glued down.

What would work best. Unit is located in Atlanta, Ga.

Don't really want to go the laminate route...

I have thoroughly enjoyed the great info available on this site after checking it out over the past few weeks. I have been passively involved in real estate/rehabbing with my personal homes and more recently dove in a bit further by rehabbing and renting a triplex. I actually have been somewhat successful despite NUMEROUS mistakes.

I plan to treat this hobby a bit more serious and am working on picking up a few more properties in the Atlanta area. I really enjoy the hunt and rehabbing, not so much the landlording but have not seen a solid financial plan on flipping homes. At least not as a newbie to the game who does not have a complete team together.

In analyzing target properties that I can manage part time I always come down to the same dilemna. Should I be going after $100K plus homes that I can make a decent return and deal with less stress/tenants (basically 1% rule) or go after lower end neighborhoods or MFH which can achieve the 2% that every is looking for.

Have not had any experience with property management companies so the time commitment portion plays a large part in my potential decision making.

Therefore I am looking to understand more about flipping homes and what types of properties to target in the Atlanta area.

Thanks in advance for your advice!!!!