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All Forum Posts by: Kody Thompson

Kody Thompson has started 9 posts and replied 152 times.

Post: Flooring options for noisy 3rd floor apt

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Id suggest going with cork lvp and then put padding down before you lay the LVP. Still might be a bit thin, another option would be to shoot insulation into the floor if it is plywood and you can easily take them up while you install new flooring. All depends on how much money you want to put into this "Problem".

Another option would be to see if they want to switch levels haha

Post: Wholesalers in Miami - Same deals?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Sometimes wholesalers will try and sell properties they dont have under contract then go to the person who does and say hey I have a buyer cut me in. Shady business not ideal but it happens.

Post: Real Estate deals out of nowhere :}

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Since you need 2 years financials to take out a loan on the home, you might want to look at flipping it with hard money and then using the proceeds to fund additional flips until you have enough money to BRRRR with your own money.

Post: Feedback wanted on my Real Estate Investment Business Plan?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Exactly, financials front and center. As an investor, I dont want to have to scroll all the way down to to find the most important details that will determine if I will even look at any of the other information. 

Thanks!

Post: BRRRR and learn or find a mentor first?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Shoot me a message, Id be more than happy to mentor you and invest In Jacksonville as well.

Post: Is 1500 enough to start in real estate?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

0$ is enough if you want it bad enough. Sweat Equity and working for an experienced investor free of charge to learn the skills and put yourself in a position to partner on deals in the future will be well worth your time. 

The old adage that you need money to make money isnt all that true. If you are really wondering what to do with the $1,500 then invest it in books, learning and pay your tithing!

Post: What goes into investing with a partner?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Find People doing what you want to do and work for them for free during your nights and weekends. This will be much more valuable for you and lead to future partnerships and JV's with the investors you help all while learning the skills you need to succeed.

Post: Is House Hack a good strategy during the CoVid-19?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

House hacking is probably the safest way to get into real estate right now. Just make sure that the rent covers at least 50-60% of your total mortgage and capital expenses.

Post: Factors you look for when investing in an area

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Population, Economic diversity, Average income, Average DOM for the area. Appreciation over the past 10 years. 

How does that law fall in terms of on the renter or land lords side. Taxes, Political leanings. 

That should be a good start for you.

Post: House Hacking in Northeast Ohio

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Yeah see if you can find a local investor to cosign, front some capital and teach you the ropes as you go! Win win for both sides!