All Forum Posts by: Jeffrey K.

What are the rents and how much do you need to spend to get there?

Looks like a lot of work. Why do you pick Ikea cabinets? I have never tried them but it seems like a cheap brand.

What is your target sale price for this project?

Some of the stuff from these shows is real and some is not. Contractors are not all the same. Some you can be friends with and others need a steel toe in the butt from time to time. You really wanted to balance quality, speed, and price.

When I started, I was all about speed and price. Now, I am all about quality and speed. Price ends up a wash if you are quick enough and if you do not have to come back to fix the job a secoond time. If you work with the A team you will also have less stress.

You want a credit at close. You never want the seller to do the work. Have him either credit at closing or if build it into the loan.

I just bought one where the bank put on a new roof and a new deck but didnt trash the place out. This was Well Fargo I think.

You will just have to get commercial loan. I found it is better to get a commercial loan over loan 5-10. It is a waste of time and you dont get much money out on a refi. I looked at some local banks when I got my loan and rates were 4.75-6% on a 5 yr 20-25yr am with up to 100% cash out. You are on this note personally.

Jason,

Who are you buying from again. As I remember, they install them in your price.

Thanks,

JEFF

I dont like vinyl plank flooring for rentals. I do not think it wears that well unless you spend a lot of money. You are better off with cheap carpet for spending the money for hardwoods. We always paint our stairs with an industrial paint.

I always have a few SS offers out like J does. I think I have 5 or 6 out right now. The key is to keep some money off to the side because one of two of them might go. I am not always looking for a crazy discount. I am just looking for a deal that works.

Ms. Petrucci is correct in her comments. You dont just go after a shortsale for the price but because of the competition. If you can wait you might get a reward. Make lots of (offers as always) and one will stick.

Make sure you understand the 50% rule and exactly how much the repairs will be. This is very important in your situation.