All Forum Posts by: Kody Bernier

Hey y'all. 

I'm Kody. I made it one of my New Years resolutions to invest in my first rehab/flip property. I've been interested in RE years before I ever purchased my first home back in 2020. I recently moved back to Charlotte a few months back after selling my home in Atlanta, and have become very fascinated in Rehabbing/flipping. However, I realize that it is an arduous task, and I would fare better teaming up with local flippers who've been around the block, per se. I'm primarily looking to team up/learn from some local seasoned flippers in the area. 

I'm willing to add as much value as possible to your next potential deal whether it be finding, investing, or offering some sweat equity. 

If you've got a few successful deals under your belt in/around this area, feel free to connect with me, as I'd love to learn from you!

Best, 

Kody

 Here's the link to the meet up Philip. Hope this link works. Best, Kody

https://www.biggerpockets.com/...

Hey man, 

Great to e-meet you. I'm also located in Charlotte. Looking to invest in some rehabs/flips. I used to live in Atanta and house hacked there, but recently sold the property. They have a Charlotte REI meet up in the second tuesday each month. Check under the "network" tab. I plan on going to that. Would love to connect!

@Chris London

Thanks for your insight Chris.

I’m just really stressed out with it at the moment. I feel bad because I have tenants in the house and at least once a month the water is an issue for them as I have to cut off water. Call out plumber. Then turn it back on.

I don’t want to sell the house as I hope for it to appreciate more in the future. I may just look to see how much a full plumbing job would be (hope full not multiple thousands of dollars) and once that’s repaired, stick with the house.

Thanks for the advice.

Bought a property in Summer 2020 and it’s been nothing but repair after repair.

I bought the home for $194k. It was in “good condition” meaning it didn’t need a renovation. Floors, walls, roof were all in good condition.

After about 6 months in I found out It had a foundation crack because water was coming in through the basement (wasn’t mentioned in inspection report). That cost me $15k.

Since then about once every month I get some kind of water pipe burst or leak because the copper pipes are wearing out. This usually runs me $3-500 to call the plumber out and fix it. Not to mention whatever water damage is done.

My house has appreciated with the market so it’s now worth roughly $250k (according to Zillow).

I don’t know what to do. Keep it and keep getting nickeled and dimmed out of rental money? Or sell it, make some money, and move on.

What should I do?

I just purchased my first home back in July. I'm house hacking (I live in basement, rent out the top). I'm wanting to make sure I utilize all the tax credits I can. Does anyone recommend a tax professional in/around Atlanta who specializes in rental properties. Or properties that are being house hacked? Thanks!

@James Dargan that would be ideal for the investor. But as a wholesaler they would need to find a deal at $40k (add in a $10k wholesaler fee). Sell it to the investor for $50k. Put rehab of $20k in. ARV is now $70k.

@Dylan Thomas I'm almost in the same bouts as you. I'm around the $20k mark and I constantly ask myself if it's a good time to invest. I'm currently the Bigger Pocket book "BRRRR" and the author states that to really get a good bang for your buck you should save $60-$80k and buy your first prop cash. It's makes it easier to purchase the home plus you won't pay interest had you borrowed the money. I think I'm going to take this advice. Food for thought

@Graham Northrup great job on your first BRRRR deal. I'm nervous myself to do this entire process but seeing first timers like yourself succeed gives me some confidence to do it soon. Question: After Refi did you have $20k still left in deal or did you get that money back. Read your post and was still a little confused on that? And also, what was the process like getting hard money for the rehab? Easy? difficult? Thanks and great job!

Hey y'all, I'm very interested in attending this meeting. I live in Riverdale, GA. I'm a little confused about the time of this meeting. Does it start at 6:45am-8:45am on the 14th, or is it 6:45pm-8:45pm on the 14th? Thanks!!!