All Forum Posts by: Nicholas Knaebel

My dad and I are seeking to build a house. The lot will be in a city area and under .5 acre. The house will be under 1,500 sq ft with a 2 car garage. We are trying to budget what it will cost to have the basement dug and foundation laid. It would work well if this company could also grade the lot. Would it be possible that they could also connect the utilities to the city, which will be right by the property.

Could you give me more info on the REIA of Oakland?

@Todd Vernon Chunn

Could you give me more info on the Macomb insiders investor club?

@Greg Kasmer thank you. I did not think of looking for an interest only HELOC, that is great advice. Cushion for payments and extra time will have to be part of the budget. Thanks again.

Hey everyone! I am looking to use the equity I bought up in my personal residence to fund a house flip. I have roughly $161k in equity and more in liquid assets. I am thinking HELOC, as I can pay off and then re-use the money to fund a 2nd flip. Also, I can have no payments until I am ready to use the money.

Does this sound like a sound strategy to an experienced investor?

This is hard getting in. I have put in three offers now, some started lower while others were above. Cash buyers are beating me every time.

How do I gain an advantage

Wow thank you @Daniel Gutierrez. I will definitely be doing this. Great insight

I just put an offer in!

SFH

Asking $85k

Offered $72k

Rehab cost about $9k

ARV approx $133k

Rent per month $1200

@Quito Keutla thank you. My thought process is that a multi would cut the cost of vacancies down as the other unit will help with costs. Therefore, less risk even if more tenants.

Is this a reasonable thought? SFH probably give better resale tho.

@John Warren thank you for your responses! It appears I am going to have to dig in and learn googles products. I have heard it a few times now and it seems to be invaluable, I can even store my documents with them.

Another question about showings. What method do you find works best for you? Do you go there a bunch of times? Only show to those who qualify? Open- house? Have you ever used the Mike Butler lock box method?

Thank you again for your insights.

@Justin R. Thank you. Great advice! I am open to a 2,3, or 4 plex. I think I could get more bang for my buck and vacancies wouldn’t hurt as bad if it isn’t the whole house.