All Forum Posts by: Elena Nelson

Thank you everyone for all the insight! I appreciate it. Going to think about a HELOC.

The place I'm buying needs a lot of work so before and after pictures would be pretty dramatic. 

I plan to update kitchens, bathrooms, new flooring throughout,  paint, and new interior doors. A couple new windows that are broken. Haha did I mention this is my first rehab. Have to start somewhere!

Jeff this property is fully occupied. Not worried about the first appraisal. After I rehab it I'm hoping to get it fully occupied and then refinance it. It's that second appraisal I'm worried about. The numbers will run great but don't want to put too much into it and it not appraise out compared to other comps.

Hasn't appraised yet, definitely something to think about.

Buying a fourplex that I would like to rehab. When I go to refinance are appraisers going to be looking at income or comps? I know it would appraise much higher if they are looking at income. I don't want to put too much into the rehab if I can't get it out. Any knowledge on this? Thanks!

Thanks! We have been talking more about turning it into an Airbnb when he moves out and then splitting monthly payments in half. 

My brother is moving to an expensive area that he can't afford right now. He would be able to have cheaper monthly payments buying a place versus renting. 

He wants to go in on a condo together. That he would be living in and paying utilities. 

My question is what would make this partnership fair? We talked about paying 10% each for the down payment and 50/50 for any repairs. What would be fair for monthly payments, taxes, insurance? 

I'm not trying to make any money until we sell it so I am not expecting rent from him. Basically I don't want to do anything unfair towards him but it's also a way for both of us to make money selling the place in a year or two. Any suggestions?

My question is should I physically be at the home inspection or is virtual ok? Has anyone bought property without physically seeing it? I have yet to see the property, I did a virtual tour with my realtor before I made an offer. It's in a college town about three hours away, not terrible. It's in a great location and is rented until August 2021. I plan on going to the property in between tenants to get it ready, take pictures, get it cleaned, etc this August when tenants change. Thanks for any opinions or experience! :)

Thanks Matt. Simple enough!

Looking at a property with a main home and then a "mother in law suite" in another building on the property. I am wanting to rent these two out separately. How would I work mail without having to pay separate taxes? Any suggestions on this? Thanks!

Hi I am in Indiana and new to investing. I have found a duplex that is for sale by owner and they are not wanting to work with a realtor. This is out of my comfort zone, thoughts? Is this hard to do without a realtor?