All Forum Posts by: Jon Martin

Look at it this way . . . Most of the people who blow you off probably aren't worth dealing with in the first place. They are doing you a favor by shining you off now instead of midway through a project when real money and time sensitive actions are at stake. Give your business to those who are willing to work for it.

Do you currently have a 2nd home loan on any properties? You should be able to get a closer to "normal" rate with that. Banks don't care how often you use it, and know that you will be renting it out . . . .

Bought my first investment property in Greenville. Rehabbing it now. It's an exciting market! Feel free to post here or send a DM.  

Yeah, it’s easy to forget how many PITA people there are out and about until you actually have to accommodate them! 

IIRC you can have reviews removed if they misrepresent themselves at time of booking or complain about something that is disclosed? 

You are allowed to carry a single 10% down 2nd home loan (which could also be your first home) on your credit report at any given time. That said, with closing costs you will have to spend wisely on your improvements.

Anybody mounting refillable dispensers and filling them with bulk gallons of shampoo, conditioner, etc?

You are in a hot market, so even if you are only cash flowing $50/month that’s not the worst thing in the world. You will probably still make money on the appreciation. 

That said, I would agree with the above that if you can sell it for a decent gain that would be a smart play. Chalk it up as tuition cost and move on to the next property with some more experience under your belt. 

Some furniture stores utilize delivery companies that will hold your furniture for you until it's ready to be delivered on a day of your choice. I am doing this now with Living Spaces, and I had to push back the delivery date by 2 months and they aren't charging me any fees for it. 

I would probably go to the Southeast US states. Plenty of homes below the nationwide median and favorable demographics and migration patterns. I would especially look to the towns where people are moving to from high dollar cities like SF and NYC- try to find the next Nashville or Charleston. 

You get money out by improving the property and raising the value (which raises your equity), then you are able to pull some (or all, or more if you nail it) of that money back out because you can pull out 70-80% of your equity. Plus you have a property that can rent for more and will require less work in the future. 

Not a moron at all. . . It took me a while to fully wrap my mind around it!