All Forum Posts by: Mike Henson

@Frank Wong

I will definitely do that! Thanks

@Bryan S.

Thanks for the response! You are exactly right! Only i can figure it out lol! I am at a spot where rental or a flip is ok with me! I potentially looked at this property to flip! But thats before i found the foundation issue! Now if i stay under budget including the foundation repair and remodel and still make a good profit then i will flip! But if there's not going be a big enough profit i will just rehab and hold and use the equity to purchase another property! Im worried if i fix the foundation and go to sell potential buyers may run from the foundation issue even if the problem is fixed and warranted!? This is the first property ive ran into with foundation issues and wanted others opinions! Thanks again for your input!

@Kenneth Garrett

Thanks for the response! I think we are on the same page keeping the rehab cost "all in" around 130k max 150k depending on what i uncover when i get in there lol! Either way rent or flip i think i will be doing good if i can keep under budget! My realtor friend said rent in that area is 1000-1500 so if worse comes to worse and it does not sale i could always rent! Thanks again for your feedback

@Andrea Townsley

Thanks for the response! I think its a rare buy too! Just hope its not too good to be true lol! I also think if i let this slip through my fingers and hit the market it will be snatched up very quick! The rent in that area is good! Anywhere from 1000-1500 a month so my realtor friend says! I did not think of purchasing a multi family if i made a big enough profit off this purchase! I was thinking small as to another flip or a single family rental! I like your idea of purchasing a multi family! Thanks again for your input!

@Pat L.

Thanks for the response! Thats something im worried about is when we go to lift the house up what else is going to be uncovered? Seperated hardwood, drywall cracks, plumbing issues,etc! Which i am already planning a buffer for repairs and remodel but its just the "unknown" that makes me ify about the purchase and whether to flip or rent? Im not going to let it scare me off because this is part of being an investor in real estate and you run across stuff like this! I guess ill find out what im dealing with when i get more into the rehab and figure my margins whether im going to flip or rent! I think its going to be a win win either way! Just wanted to get other investors thoughts! Thanks again for the feedback!

Hey guys! I am a new investor and i came across this house for 50k and the house next door just sold for 195k and other houses in the area are selling for low to mid 200s! My question is should i buy the house to flip or buy,rehab and hold and use equity out of house for next purchase or run from it? The house has foundation issues and i brought a foundation specialist over and just for one side of the house hes saying its going to cost 17k! And to double the price to fix other side if its as bad? (We could not see foundation for the fact it was not exposed) the house is one story with basement! Any advice would be appreciated! Thanks in advance!

hey guys! My name is mike and I'm looking for a REI CLUB around the hopkinsville/clarksville/oak Grove area! I'm new and looking to begin my journey with real estate! So if there's a club or just a group of people that meet up once a month or so in these areas please let me know! Thanks a lot! God bless and take care!

Thank you so much guys!

Hey guys my name is Mike! I've been a member on bigger pockets for about 2-3 months! I'm a newbie wanting to learn the ins and outs of real estate investing! I recently started talking to different real estate agents and looking at different properties with them...basically interviewing them to see which ones also invest in real estate and finding one that best fits my needs! I am also looking to find other investors in my area to Maybe sit down and talk with or maybe find a REI club close by if possible!? Would love to hear any feed back!! Thanks so much!!

Thank you guys so much for getting back to me! I'll definitely get started on the following things you all have mentioned! Thanks again!