All Forum Posts by: Eldridge Stroman

If I was in the country I would do the demo/cleanup myself. That's the only reason I'm looking for a quick referral. Thank you! I appreciate it!

Good day BP fam! I recently bought my first investment property and in need of a Demo/Cleanup crew or service. The property is in Birmingham, AL. No more than 2 days work. I would appreciate any referrals, recommendations etc.

Good day BiggerPockets Fam! 

I'm needing some advice! I just bought my first investment property and hungry for more. I'm wanting to refi my primary residence to pull cash out and buy more investment property. If I do this, my interest rate on my primary residence loan will increase for the refi, which obviously is currently at a good rate! My thought is, the investment property will pay for the increase, in theory and over time. 

Is this something that's common to do as an investor regardless of an interest rate increase?

Is my way of thinking correct or incorrect?

Should I move forward with the refi?

Thank you for the info, much appreciated!

Good day BiggerPockets! I just closed on my first investment property in Birmingham, AL. I'm wanting to know what type of insurance do I need to get while going through rehab and can transition into the rental?

Understood! Thank you for your input.

There is an owner in my area that evidently has a pretty big portfolio and is selling quite a bit of it. There are only pics of the outside, most of the properties are older, so! no doubt renovations will be needed. They have placed a stipulation on their listings, and I quote "Seller will not allow interior access until an accepted offer is in place."

If I'm one of those buyers that doesn't mind purchasing site unseen fixer-upper property, not having some kind of estimate of work needed, I wouldn't mind this! Being the newbie that I am. I need to see what I'm investing my hard earn money into and what more I will be putting into the property.

How can I work around this or what should I have my agent tell their agent?

Thank you for the response! All of these comments is what I expected. Sometimes you really need to hear what you've already known. I'm like the basketball player waiting for the buzzer in order to get in the game, I'm right there! In my eyes, I've missed so many opportunities in my preparation in getting to this point. I receive everyone's advice and will move on. Thank you Biggerpockets!

Thank you for your response! I appreciate the straight talk. Just what I need to hear.

Thank you for your response! Yes! I found it on a MLS. I know it maybe a little more than I want to deal with. I do think it could be worth it in the long term. That's one reason I'm still considering. I do have a good contractor, I'm waiting to get his estimates and his opinion.