All Forum Posts by: Account Closed

@Greg H. Yeah I completely agree with you. I was really hesitant to use Zillow as a means of home value, considering my county assessor is only valuing the property at around 85k. How would you recommend going about finding the right realtor for my situation?

@Jordan Sutherland .... This is FANTASTIC advice I really appreciate it. I currently live with my parents and as long as I'm respectful of their household, I am welcome to stay at home . This will allow me to scale up my portfolio even more! I'm speaking with my dad about the cost to put in central air and the bathroom rehab. I plan on painting myself (putting some sweat-equity into it) before the refinance. Your completely right, something as simple as the paint can make a property value dramatically increase or decrease. I will definitely keep you updated with later progress👍🏽

Hey guys! First off, thanks for clicking on this discussion. All feedback is greatly appreciated! This PAID OFF  property was given to me by my grandmother once she got her new house. 

• MY ASSETS
• My father is a Guru when it comes to anything having to do with construction. electric, framing, plumbing, painting, roofing, ANYTHING. I've been showing him BP In-order to open his eyes to the 80/20 rule so that he can learn to delegate jobs instead of trying to be a one man crew. 
• My grandfather currently operates an interior designing company that has been established for years.  
•  My grandmother operates a small home cleaning business and a Carpet & Upholstery protection service.

My family has had all the puzzle pieces laying around for years but nobody decided to put them together ..until now (:  ALL THANKS TO BIGGER POCKETS!!!

• PROPERTY INFO
• Single family
• Built in 1964
• 1,328 SqFt
• 3 bedroom / 2 bath
• Beautiful lawn "My grandma loved gardening"
• Carport that fits 2 vehicles
• ZESTIMATE $118,524   COST OF LIVING IN WEST TEXAS IS EXPENSIVE!

What needs to be done...

As of right now this property needs some work in order to get it into proper rental condition.

• CENTRAL AIR ( I'd like to get rid of all window units )
• REPAINT ( to a more neutral color, another words NOT PINK )
• REHAB ONE OF THE BATHROOMS COMPLETELY ( Average size restroom )

I would like to do a cash out refinance on this property and take out 80% of the appraisal value in order to cover expenses for the updates to the property and to have some capital to invest in another single family home or possibly get into flipping with my family.

Again i'd really appreciate feedback! I just want to make sure i go about this the right way. 

THANKS BIGGERPOCKETS FAMILY :D