All Forum Posts by: Frank Eimiller

It’s almost been two years since I bought my current live in flip and I’m hunting for my next. We have an advantage being an owner occupants with the ability to get the ‘first look’ with many different type foreclosures. Not sure what your market looks like but here the occasional HUD or Fannie Home Path foreclosure still pops up from time to time. Good luck!

Marcus Auerbach great reply. This helped me as well

I bought a REO/Fixer. Best decision ever. The equity you can force is life changing when starting out.. I’m not talking millions of dollars, but to a young twenty something 20-50k in equity/tax free gain after two years is a great chunk to start your investing career with! I like the house hacking thing people talk about too with the duplex etc etc.

I would look at the market. If homes in your price range are selling with white appliances, any stainless you put in will likely be taken well. However if your completion is putting in Vikings stoves or getting crazy in that regard you’ll likely have to adjust your selection.

Gino Barbaro I like that a lot. I’ve heard it before but the way you said it made it click. Going to look more into the strategy as you described. Sorry OP I wasn’t much help, just wanted to comment and say thank you

House is worth 300k when appraised. 80% = 240k minus your 150k debt = 90k credit line to play with. I’ve heard of 90% lines however when you’re owner occupying. From what I’ve read it’s pretty costly to cash out refi. Depending on what you’re trying to do a HELOC might be beneficial! Best of luck

Aren’t we all? Welcome to a life long journey of learning, mistakes, and hard work! If we all play our cards right it will be everything we’ve dreamed of!

I open up Evernote and make a checklist of things to be done and just assign a number to each line item. I estimate high on everything. I’m interested to see what others say. I’m not too sure about other methods like rehab budget based on sq ft etc, at least in my market I don’t think that would do well.

I’m in the camp of doing a lot of the work myself. I like doing bathrooms, kitchens, flooring, and carpentry while hiring a hand for grunt work or the easier things. I’m sure as my net worth and number of deals increases I’ll find myself delighting more and more.

I would ask how Josh invests or what he invests in. We’ve heard the story about the bad condo deal etc etc but not much beyond that. I have to assume private money lending. Not a pressing question just something I often wonder when listening to the podcasts 😃