All Forum Posts by: James Breder

I’m an investor that focuses mainly on flips, but I’m in a situation where I don’t know what my options are. I submitted a bid on xome for a house that I will live in under the first look program, and the offer was accepted. The house is worth in the 180 range and I paid 110. I’ve already been inside the house and it’s structurally solid and looks good. My issue is I have another investment property that I’m using a chunk of my money on, leaving me with about 70k that I’d want to put in for this. I’d finance it no problem in a few weeks, but I’m just trying to think of any option for borrowing the 45k cash just to complete the transaction. Would they let me use a hard money lender and put it in their name even though it’ll be me living in it? I’m willing to pay good interest to make it work. Any other ideas? 

@David Faulkner and @Account Closed: Thanks!

@Charlie Fitzgerald Thanks!

Hoping to get a few opinions from fellow investors. I have a flip house that's a little above the median house value for the area. So not overly expensive but it's a pretty nice area and pretty nice house. Im of course going to get rid of the wallpaper and replace the floor tile in this bathroom, but what would you personally do about the wall tile here? Ive had people say theres ways to paint it but I just wonder if it would still look dated. Ive also had people say to chisel it off and hope the drywall behind it would be ok but some have also said the drywall would be destroyed and I would have to just cut it out and re-drywall it. So im conflicted. House is a 1970. Any opinions would be great thanks!

It's a flip by the way

Hoping to get a few opinions from fellow investors. I have a house that's a little above the median house value for the area. So not overly expensive but it's a pretty nice area and pretty nice house. Im of course going to get rid of the wallpaper and replace the floor tile in this bathroom, but what would you personally do about the wall tile here? Ive had people say theres ways to paint it but I just wonder if it would still look dated. Ive also had people say to chisel it off and hope the drywall behind it would be ok but some have also said the drywall would be destroyed. So im conflicted. House is a 1970. Any opinions would be great thanks!

Perfect thanks man!

When youre assessing a potential deal and quickly want to figure out the cap rate of say, a multi-family place, before you actually hit up the people for financials, what is the percent you take out as a rough estimate for expenses? I've been using 35% of total rental income for expenses (including taxes and insurance) but is that too low? Should it be more around 50%? Obviously every property is different just wondering what is the rough estimate people use