All Forum Posts by: Mike D.

Do you plan on moving into the triplex?

arary,

Where in nj will you be investing?

@Brandon Turner

@Brandon Turner

@Brandon Turner

@Brandon Turner

Because no one will be able to top him!!

Can anyone in Central NJ get a better rate than $400 for a 15 yard dumpster?

Hey bp

I just closed on my first property today. I went over to the house and started ripping up the old carpets. Under the carpets were two layers of stick and peel vinyl tiles on a subfloor. Some came up easier than others. After a few tiles, I realized through a crack in the subfloor, that there is hardwood underneath the subfloor. First off all, how much damage will have been caused by nailing the subfloor to the hardwood? Would you pull up the subfloor to see the condition of the hardwood? I'm thinking that they must have been in bad shape for them to cover them up. It might be cheaper to go over the subfloor with the laminate I was planning on using.

I also noticed they covered up what appear to be vents, cut through the hardwood into the crawlspace. Has anyone seen that or know why it's done?

I don't have much helpful input, other than I think they will want to see two years returns before they will lend. Did they say they are willing to mortgage that small of an amount?

Btw, 125k right out of college? What do you do for a living? I picked the wrong field.

That floor in the kitchen and family room looks nice for that price point. What product did you go with?

You mentioned that all your previous rentals were short term. What about this property makes you interested in getting back into rentals?

The tax people will chime in I'm sure, but there is no way to avoid the tax hit on this flip as I understand it. On the bright side, you have a full year before the tax bill will arive.