All Forum Posts by: Mary St.Clair

Thanks everyone for your recommendations. Closing happens this Friday. Then rehab begins.

@Anthony Dooley. — thanks for your input. I plan on putting down vinyl planking throughout the whole house. 

I have a SFH that I am closing on the middle of March. It has nasty carpet that will be pulled out. I am wondering what flooring will be best to replace it? I have always purchased SFH that have real hardwood floors in them so this is a new one to learn about. It would be awesome to get some opinions of what kind of flooring and brands from those who have gone before!!!

@Mary St.Clair-oops wrong forum.

I have a SFH that I am closing on the middle of March. It has nasty carpet that will be pulled out. I am wondering what kind of flooring is best to replace it? I have always bought SFH with real hardwood floors so this is something new to learn. It would be awesome to get options and brands from those who have gone before!!

@Scott Ellis—how do you go about getting the info to send a notice to an incoming class?

What would be the best advise you would give when " inheriting" Tenants from 2 SFH. Tenants are currently on a month to month lease.

@Robert Catapano Jr - welcome to REI. I also live in Roanoke VA. I do buy and holds in the area. Once you get into wholesaling let me know if you find any good SFH, 3bed 1.5bath in Roanoke County. That is kind of my niche right now as I grow my portfolio.

Best to you,

Mary

@Debbie Tringale - when I am analyzing a property those are my general rule. Although, higher cash flow or cash on cash return on the money I have invested is something I am always looking for but in having a set number keeps the emotions out of a deal. I do have property that brings in a bit higher cash flow and also one that has pretty much an infinite return because all I had to invest was about $1000 for a deposit. Brandon from BP did a webinar on the “stack” on properties that is helpful in seeing how after accumulating property at the numbers above can bring in some financial freedom once your stack is large enough. And not to mention or forget, your tenants (if you have the right numbers) are paying your property and building your equity for you. Which is huge. My savings account does not do that nor does it yield 12% on my investment.

Depending on the size of your portfolio you might not be taking in huge amounts of cash flow. Although, one can find a "home run" deal most likely real estate is more of a marathon more than a sprint. It's more about the "stack" of properties when you see a bigger cash return. Unless you are in some bad deals which could be potentially sink you. I am in SFH or small multi-family homes and I shoot for $200 cash flow a month on my SFH and/or at least $125 on my mutifamily doors and a 10%-12% Cash on cash returns.