All Forum Posts by: Jinwon H.

I'll get to the bottom of it when the foundation specialist do the assessment on Wednesday, but from what I'm reading, I need to install a  sump pump at the very least.

I'm thinking about ripping the insulation now (I have a dumpster that will be gone on Monday), and treat the existing mold if there's any.

I'm wondering if I can wait to install the sump pump until early June after we're moved in.

Eventually, I want to encapsulate the crawl space to use it as storage, but that's not my top priority.

If I have to re-do the whole floor in the future, can I salvage and re-use the LVP I might install now?

I'm looking at HD's Lifeproof LVP.

I bought a duplex as my first investment property and to house hack. My husband and I are doing most of the work on our own and we are learning a ton.

My plan was to replace the carpet and sheet vinyl to LVP throughout. But after we pulled the baseboards and the flooring, we found out that the floor is wavy and uneven. Low spot is about 1/2" lower than a high spot.

We also found that the puddles form in the crawlspace when it rains, and it's very likely the flooring sagging due to structural damage from the moisture. We'll get the full evaluation next Wednesday.

As far as I understand, the right course of action is to fix the crawlspace and any foundational issue that's caused by the water, then install the flooring. 

BUT time is not in my favor. We (family of 4) need to move in by at the end of this month. 

So what are my options?

I considered pouring self-leveling cement and proceed with LVP as planned, but I wonder if that would cause the issue when we fix the foundation and possibly re-joist?

I have a property in Lillington, NC, close to Fayetteville, Fort Bragg area that's managed through a property manager.

I'm currently living in Atlanta, GA.

The house is only 6 years old, so is the HVAC system. 

The heating failed last winter, the property manager called the service, and the service filled up the freon and the heating worked fine.

Then the heating failed again yesterday, and now they are recommending me to replace the unit and got quoted for $5228. The note says

"Existing seven year old system has failed due to major refrigerant leak in the indoor heat pump coil (unrepairable), and the outdoor unit compressor has failed also because of this we recommend replacement of the outdoor unit and the matching air handler unit in the house."

I'd like to get a second opinion if this is the right action, and I'd also like to get a recommendation for a reliable HVAC service in Fort Bragg/Fayetteville/Lillington area.  

Thanks in advance!

 Thank you, I'd definitely check out those units.

When you compare the rent comps, do you also check out the apartments?

Thank you, I'd definitely check out those units.

When you compare the rent comps, do you also check out the apartments?

I'm under contract to buy my first investment property to house hack. Alpharetta, GA, North of Atlanta.

A duplex with identical two 2bd/2ba 1100sqft unit. 

I would say the property condition is class C. One unit is renovated recently with sheet vinyl flooring, Formica countertops, and cheap white appliances. The other has similar quality finishings with much more wear and tear. They are both rented for $975/month.

The property's assigned schools were terrible before, but in 2018 school year, the neighborhood is reassigned to decent elementary and middle schools and a great high school.

I think the new school assignment could potentially bring the neighborhood to class B, and the convenience of the location (close to high way and malls) may be able to attract class A tenants. 

2/2 apartments around the area go for $1700-$2300, and the Rentometer calculates around $1650 is the area average and median.

On one hand, there's a 3/2 unit across from the street that's been sitting on the market for a while at $1400. On another hand, there's a 2/2 unit within the neighborhood that got rented for $2000 last year.

Given this information, how much would you be willing to upgrade?

I'm thinking LVP throughout with LVT in bathrooms,  replace a wall with kitchen island to have open common space, recessed lightings, granite countertop, stainless steel appliances, and new fixtures, outlets, and paints.

@Brian Eilering , 

Congrats on your first deal. Please, do share your success when you are done.

Like you, I live in Atlanta and I've been looking for the first deal for buy and hold. It is really difficult to find a good cash-flowing property in the area. I'm very happy that you were able to find what you wanted! 

I'm looking into buying the first investment property, and it seems like the only thing I can afford at the moment is properties from a low-income neighborhood without putting me into significant financial risk. 

I drove around the neighborhood my prospect property is in, and I got scared. 

It's not that I was in physical threat or anything, but I was just worried that I've never been in a low-income area, and I feel that I'm not prepared for the task. Besides, I was planning on house hacking for at least a year.

Is there any good books or articles you recommend that will give me a good idea of what it's like to manage properties in a low-income area?

Thank you very much.

Hello, I'm currently renting in Marietta, GA and my lease will be up 1/1/2018. I'm thinking about starting REI with some sort of house hacking in Atlanta area. I want to close by mid-December if the house is move-in ready, a month or two earlier if it needs significant work.

My question is about financing and timeline. I have about 20K in cash, and I'm currently saving 2K-2.5K a month after all the monthly expenses. Both my husband and I are veterans and we qualify for VA loans (and fee waivers). I've heard that banks typically don't lend for the houses that need a lot of rehabs, and it's hard to buy a good deal with VA or standard home loans. So I'm considering hard money loans, but I really have no clue about how it works.

1. Considering I want to close no earlier than October 1st, how soon should I start talking to the hard money lender?

2. Do I bring the deal first, or get the hard money loan first?

3. How long does it typically take to close with hard money?

4. Does hard money lenders lend for rehab costs too?

6. How does refinancing with VA loan works? Is there a time limit?

7. Any advice a newbie like me should consider?

I'm looking for a place within 10-15 miles from Sandy Springs with about $150K total cost.  Thank you in advance!

@Jered Sturm

I'll see you on Tuesday!