All Forum Posts by: Luka Jozic

Thanks for responding. But how do those numbers make sense for a BRRRR? If your appraisal is 150K and you leave 30% equity in the deal, your monthly payment should be just over $1000 a month. If rent is $1600, then 10% for PM, some percentage for cap-ex, vacancy and repairs (since its newly rehabbed maybe 15% for all that), that gives you barely $200 cash flow? Am I missing something here?

If you're looking to simply Buy and Hold, depending on what class of property you're looking at, yes you can find deals right now. If you're looking to BRRRR from out of town, it's difficult but not impossible. You might not be able to get 100% of your money out of properties, but you can get a good chunk. You really do need to bring cash for that right now, otherwise the lender closing costs for the purchase and refinance after is going really hurt your return.

If you do it "on your own" - looking for general contractors or trying to manage your trade-specific contractors (roofing, plumbing, electric, etc), you can get more bang for your buck. A big HOWEVER is that you need to know what you're doing with rehabs so you can keep tabs on the GC/contractors. The second that they know you're out of town or if they sense that you don't know what you're doing (or both), they're going to take you for a ride. It stinks, but that's the way it is. 

If you're still new, then you do need to rely on a Property Manager. With PMs, they manage the project for you, but you're going to pay for that service. But, if you're willing to put the capital in up front, you can find houses that are sitting there right now that need a full cosmetic reno for a lot less than you could last year. You drop $20-30k into it, refinance,  and now you have a solid long term property to hold onto that you know is set for a while. It just depends on how much "work" you want to put in as an investor. 

Depends.
The photo doesn't show the space you are trying to fix.
Is it readily noticeable that the tiles are missing? Is this a rental, rehab or someplace you are going to live? 

Are there tiles on the wall behind the cabinet you can use?

Removing the grout around the tile you want to remove and spraying the top and sides of the tile with water and letting soak for an hour or so typically loosens the tile from the wall. Be careful not to chip the tile if you can help it. But if it comes out in pieces, it's still better to have a broken tile to show the tile guy than no tile at all.

I feel your pain. I've been that route. However, tile styles rotate each season as they sell out of stock.

The best you can do is remove one of the tiles in the least noticed place and walk it into a bunch of tile stores.

Very unlikely you'll find the exact one but you might find a close match. (and always buy extra)

As an aside: Both Home Depot and Lowes carry different tiles, cabinets, carpet, etc at every location. By that I mean, one location will have a pattern or color that no other location has. So you might want to try a few different locations. Some guys in the tile department will have been around long enough to be able to name the manufacturer and that helps the search.