All Forum Posts by: Justin Husband

My question is this: should I try and get a tenant in my rental as fast as possible or spend the upfront money to improve the home so as to have it appraise more? This way I can get a bigger sum from a cash out refi. The home was inherited and we had to pay half for it to give to a sibling. So technically 50% but very dated and needs some updates.

Mostly cosmetic, which I have things in motion to get done.  The contractor for the bathroom is the big issue right now with everyone so far behind.  The bathroom isn't in horrible shape, but it's very dated.  No matter how many Youtube videos I watch, everything I try to fix seems to go to crap.  I'll have to get a stove as well, but nothing else major.  It was my wife's mom's house and she kept it updated and in great working condition.  The roof is about 10 years old, new AC and furnace units.  New water heater as well.  I just think updated the exterior and interior would make it's value increase for future lines of credit.  I'm at that standstill point I have read and watched so much about, I just am frozen as to what do next.  

Hi, I’m back.  Sorry life, ya know.  We will buy out the other person and after paying them off with a heloc(I think it’s what I need to do).  There will still be over 100k in equity, even after dropping some money to update items that need to be updated.  I’m just at a loss as to where to go from here.  I have to find a renter, figure out expenses and then once I can actually get this rolling; try and find another deal.  It’s very overwhelming but I’m determined to make this work.  

We just took over in-laws home after her death. It’s an older home in a very high demand neighborhood but needs a lot of work and don’t know where to start. Will have to pay sibling half of the appraisal and overwhelmed with the work needed.