All Forum Posts by: James Barnhart

I have used vinyl planks and they are great.  It is in our home and in a rental, so far.  I have used a few brands, such as sold in Lowes and Home Depot.  They can take a lot of abuse, are waterproof and don't have to be replaced or cleaned, such as carpet.  I would never use laminate, because some day they will get wet and ruined.  

For a fix and flip, I might use a little less expensive vinyl product, maybe.

I do not know those lenders.  But, a builder should know because they want those type of loans.

I would suggest you call Tom Mosco Homes in Orange City.  He only does great work and is honest and a great guy.  I would definitely use him.

I have seen many of his homes under construction in central Florida.  Let me know if you need his number.

Also, I just saw pics of your Palmetto house.  You did a very nice job.  I saw the house before, and just didn't see the vision that you did there.

You probably have just 2 options at this point. One is to open up the walls so the inspectors can see what has been done.  Then, after all inspections are passed, close it back up and finish it off.

Also, you might ask the building official if you can submit a professional engineer's letter that says he saw the construction, and that it was all done according to the applicable codes.  Of course, the engineer would be sticking his neck out, so he definitely is going to grill you on the specifics of what was done and how it was done.  And, he will charge you a good amount for that letter, if he is willing to do it at all.  His license is valuable and if he thinks that you cannot answer his questions well, he will not jeopardize his license for you.

The first thing you need to do is get a buyers list.  Ask the buyers what they are wanting to buy.  Then, go find properties that are what the buyers are wanting.

It will do you no good to go tie up a property for sale, and then you can't  find a buyer.

Neither the seller nor you will be happy.

Do a google search on google and you tube for "We buy houses" in your area. Call EVERYONE on those lists. Ask them what they want, including type, condition and age of properties, per cent of ARV, (after repair costs are deducted), that they want to buy at. They will love to tell you.

You will have a good long list and you will have it much sooner than just asking Realtors.

Any traditional lender wants you to have some of your own money in the deal, not 100% borrowed money.  

I don't know about New York, but I have a 5% APR HELOC from a local credit union. It is also a 80% LTV ratio.

I have read the various comments on this question and I noticed something.  The landlords that say they definitely raise rents every year to every tenant, have almost no forum votes.

The ones that say they value an ideal tenant and may not raise the rent, have received several votes.  Hmmm....

Apparently, some people see a tenant as only a paying unit of consumption, and others see a tenant as a human being who wants to pay to live in your house or apartment.

I agree with Rob Meyers. When I have an ideal tenant that always pays on time, and I never hear any complaint , I appreciate them. There is a real cost to replacing tenants and the next one may not be as good. I even will give them a $20 gift card to a local restaurant every once in awhile. (That's tax deductible.) That builds loyalty, and when I do raise the rent, there is no complaint. There is a real payoff in treating people well.

I don't use a contractor often, but when I do, I use the same one every time. I have known him for many years, seen his work, and he has a very good reputation. He communicates well with me and he always does what he says he will do. I may pay a little more, but the work is done right and I don't have headaches with him. That is worth something to me.