All Forum Posts by: Karl Dela Cruz

Hello,

I am currently on my last year of University to obtain a degree in business focused on Finance. I am currently in an internship in commercial real estate but I can't imagine myself managing portfolios forever or working in the corporate setting. I want to do acquisitions and build. Be out there not in the office.

 I do not know how to start but I have done a few wholesale deals and just closed my first rental while balancing a full time paid internship and full time school (Hectic). Based on these experiences, I enjoyed the hustle of finding off market deals and also seeing my hard work pay off from watching my rental transform from ugly to beauty.

Now, I have been in school for 5 years... They don't teach development nor real estate in uni. 

Should I apply for a school that focuses on real estate development after I graduate? I have connected with developers but they are small local developers. I want to eventually move into commercial and learn from someone who is well experienced but i'm not sure how to do this.

How do I start the path of development, any books, paths or direction to start? How can I obtain a mentor and how do I provide value for them to even consider mentoring me? 

Scary how it is my last year of uni and i've worked so hard but realizing now that I don't want a corporate job. I tasted it and DO NOT LIKE IT. Any developers, please help. 

@Michael Deering Great! My property is in a class B neighbour hood. Since the living room and 2 bedrooms on the main floor is hardwood, bathroom and kitchen are different flooring I’m deciding to just put LVP on the kitchen and bathroom.

I am now hoping these class b tenants will somewhat take care of the refinished floors.

@Pat D. What if I want to refinance and try to get the most out of it. Will having the LVP decrease the appraisal?

@Karl Dela Cruz

UPDATE******* The bath room and kitchen do not have hardwood flooring. Only the living room and bedroom main floor. So I would then have three different floorings on the main if a refinish. Still do it?

There are some stains on the floor and tons of adhesive glue stuck under the carpet.

Hello Everyone,

I have hardwood floors that I uncovered when pulling out the carpet.

I’m deciding if I should finish them or just buy vinyl planks. This would be done through the whole house.

It’ll cost me approx 1.3k to get vinyl planks and $700 to refinish.

Now, I don’t mind doing vinyl planks as it still fits the budget but I also would want to save money LOL.

I am stuck between getting vinyl planks then forget about em or refinish (PROVIDED that the floors are still okay) and save money and hoping I don’t have to come back or run into some issues.

What would you investors do if you were in my position. My goal is to make my portfolio passive as possible and also increase appreciation as I'm doing BRRR. Stuck on the fence right now to save or just get the planks.

Attached shows the condition of my floors.

Thanks.

My understanding is, putting properties in a calculator and analyze their cash flows. Look at comps to see what the ARV is. Is that what they meant by "Analyze daily?"

This is the siding. As you can see It is beaten up. Still consider painting? I am not sure if these are repairable. Thanks

Hello Everyone,

I recently purchased my first rental property and the outside requires new paint. It is wood siding and the paint is peeling and some boards are cracked. The whole house exterior is approximately 1400 Sq ft.

My goal is to ensure the house looks attractive. It is a corner lot with no fence so I want to ensure the exterior is great. 

Replacing the exterior with siding would cost 4-6k 

Paint and labour would cost 2-3k

My plan is to hold for a long time as this is located in a great neighborhood but it is honestly the ugliest house.

What would be the best option? Spend a little more so I don’t have to worry about it later or paint it to save money and do small paint touch ups later on. 

Budget is also a factor.

thank you!!