All Forum Posts by: Josh Simpson

Hey BP, a partner and I are looking to do basically a whole house Reno. My partner wants to get 3D renderings to help visualize the changes and different options. Does anyone use a software to help create visual representations? If so, what do you recommend? 

Above ground is usually no big deal. There are some environmental companies in town that should be able to easily remove. Underground can get a little dicey sometimes. 

Investment Info:

Townhouse buy & hold investment.

Purchase price: $190,000
Cash invested: $60,000

Townhome bought off MLS. Professionally pained, cleaned, and rear landscaping done. PITI + HOA = $962. Rent = $1,500.

What made you interested in investing in this type of deal?

Was searching for homes (single family and townhomes) under 200k. Hit our basic numbers for cashflow and cash on cash return.

How did you find this deal and how did you negotiate it?

MLS. I am a realtor. Ran comps and made a fair as-is offer.

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

Professionally landscaped back yard, paint, and cleaning.

What was the outcome?

Hoping for tenant to move in asap.

Congrats! Sounds like an awesome deal. I have been driving for dollars for maybe 1 1/2 years with not much to show for it. I have been extremely geographically limited to the west end though. I am a Realtor and would be glad to catch up to see if we could help each other out. @Stephen Glover is a great resource for property management. 

Great work, congrats!

Great work! Congrats

Hey All,

I am a full time Realtor in Richmond, VA and I own 3 rental properties that I self manage. I have just been buying homes with owner occupants loans and moving everything 1 1/2 to 2 years. I am looking to expand my knowledge and figure out how to acquire homes quicker to grow my portfolio of cash flowing rental properties. Hope to learn, grow, and work with Bigger Pockets members. Cheers.

Been a Pro Member for a couple months now but haven't really utilized the discussion boards as much as I should have until today my wife ran into a conundrum. Here is our delima

We bought a home 2 1/2 years ago from an original owner. 1955 built brick rancher that happened to be 4 doors down for our home at the time. We purchased the home for $172,000 and have since with downpayment and renovations come out of pocket roughly $25,000. We currently owe around $190,000 on the note (we did renovation loan) and had always intended on keeping as a rental property like our 3 other homes. Our current mortgage payment is $1,360 a month and we could rent the house at for $1,500. However since we purchased the home, prices in our area have risen pretty quickly and there is a major redevelopment project just getting underway about 1/2 away. We could probably sell the home around $290,000 and walk away with something in the ballpark of $80,000. My understanding of Capital Gains from the forums and podcast is that I wouldn't have to pay Capital Gains since I have lived there as a primary residence for the last 2 1/2 years?!

With the potential of walking away with so much profit, we are debating whether it is short sided to change our plan from keeping it a rental or is it opportunistic to try to take advantage of a hot market with low inventory. 

Thanks for any advice or recommendations BP!

Does anyone have any experience painting Aluminum siding? My wife and I made an offer to buy a home but it has light green aluminum siding that looks terrible. We were going to paint it but contractor is recommending replacing it all because paint wears off easily. Anyone have any experience?