All Forum Posts by: Galit Garsiel

Does overseeing repairs overseas online present a problem?

Of course, I'll show up to see the house before the repairs, and maybe again after they're done. And I'll pay for each repair only after the job is done, so the handymen won't run off with my money. But I won't stay overseas for a long time. 

Some countries don't have capital gains tax, such as Belize. Buying a house and living in it is difficult for me for reasons to long to write in one post. 

Do you recommand flipping a house overseas?

Do you recommend flipping a house in a town with 100,000 people, where there aren't as many jobs avialable? Will it be difficult to sell it after repair?

A huge amount of jobs is in the largest city, with 450,000 residents, and there's realy no comparison between the amount of jobs in that city and the smaller town. (Overseas).

I looked it up on a jobs website and found 10 telemarketing jobs in the smaller town, while in the largest city there were 225.

Smaller town does have public transportation and shopping centers. Also pretty safe.

Contractors will suggest the most expensive makeovers. How do you know which are necessary and which aren't? How do you know if you can get a cheaper window frame or cheaper floors, or if the money you spend on the window frame is even worth you awhile? Maybe the money you're going to spend is higher than what you get in return, won't raise property value enough to justify the investment.

Quote from @Adrian Lemus:

I believe for the Contractor and yourself its better, safer, and faster to get things done from my Experience. 

 What will be safer and faster, living outside the flipping house while renovations are going on?

When you renovate a new house, do you live in that house, or do you have your own house, beside the one you're flipping, or do you live in a rented apartment?

I have one apartment in my posession, and don't have the money to buy another one. In order to get the money, I'll have to sell my apartment. If I live in a rented apartment while the renovations are taking place, I'll lose the rent money in the meantime.

Living in the house while being renovated can be a problem, because I have three cats, and they're used to going outside whenever they want. I'll need a fenced in yard, and those are pretty expensive where I live. 

Quote from @Jared Hottle:

Quote from @Galit Garsiel:

Quote from @Jared Hottle:

As everyone has said it depends. The biggest thing are what do other comps in the area look like as that is your competition. Go on Facebook sites or zillow/apartments.com and look at pictures. I would say replacing flooring if dated or in bad shape, painting to a neutral color, changing light fixtures and outlets/switches are usually the biggest return on investments but not always the case and sometimes if the kitchen or bathroom is bad doing work in there returns some good value.

zillow/apartments.com doesn't help because I live overseas.
How do I know what other apartments in the area look like on the inside? I can't just walk in.

 So there is no way that managers or owners advertise rental properties with pictures in your area? Maybe not Zillow or apartments.com but use whatever is used in your area to advertise rentals. If truly there is no way people are advertising their listings online then call up some for rent signs or property managers you know in town and offer them $50-100 to show you a few units as you are wanting to get into into investing and want to see what current rentals look like. 

Great! Thanks so much!
We do have an online place advertising apartments, most of which are with pictures of the whole apartment, room by room, and the yard outside. 

I'll just type my town in their search engine, and the neighborhood. 

Quote from @Jared Hottle:

As everyone has said it depends. The biggest thing are what do other comps in the area look like as that is your competition. Go on Facebook sites or zillow/apartments.com and look at pictures. I would say replacing flooring if dated or in bad shape, painting to a neutral color, changing light fixtures and outlets/switches are usually the biggest return on investments but not always the case and sometimes if the kitchen or bathroom is bad doing work in there returns some good value.

zillow/apartments.com doesn't help because I live overseas.
How do I know what other apartments in the area look like on the inside? I can't just walk in.

Quote from @Theresa Harris:

Some times it is about they type of tenant you get rather than how much more you get in rent.  A place that is in good condition will usually attract a better tenant who stays longer compared to a place that needs a bit of work.

If you don't have it, things like adding a washer and dryer are simple things where you can add $50 to the price of rent and they pay for themselves quickly.  Just make sure the tenant is paying for water and electricity.

 I have a laundry machine, but non dryer. I have a clothesline in the room with the laundry machine. I'll buy a dryer and put it next to the laundry machine. 

Quote from @Account Closed:

Quote from @Galit Garsiel:

If I rent out my apartment, how much will painting, fixing up the kitchen and bathroom, etc, raise the rent (in percentage to the money I put in)?

I may be forced to rent before selling, although I'll try to avoid it, due to circumstances I'll write in another post. 

It depends. Take a look at your competition, the other rentals around you. Look at how they are fixed up and the rent the are getting.

What zip code is the property in?

It's overseas, but looking at other rentals and seeing how much rent they pay in comparison to how fixed up they are is great advice. 

If I rent out my apartment, how much will painting, fixing up the kitchen and bathroom, etc, raise the rent (in percentage to the money I put in)?

I may be forced to rent before selling, although I'll try to avoid it, due to circumstances I'll write in another post.