All Forum Posts by: Nick Gee

@Sean McKee thanks for the input, I also heard that covering may be a fairly expensive cost. we really are interested in the house it needs work but has tons of potential and space we need. we think we can get it for a steal..if we move forward and keep the radiators we will need to see about cooling options

SO MY WIFE AND I ARE LOOKING AT AN OLDER HOUSE TO RENOVATE AND POSSIBLY STAY IN... HOWEVER THE HEATING IS STEAM HEAT WITH THE OLD CAST IRON RADIATORS THROUGH OUT THE HOUSE.... FIRST TIME COMING ACROSS THIS HEATING SYSTEM... THE HOUSE IS HUGE AND HAS LOTS OF POTENTIAL BUT I REALLY DONT LIKE THE LOOK OF THE RADIATORS I FEEL THEY TAKE UP ROOM BUT IDK WHAT ELSE TO DO OR WHATS AN efficienT WAY TO CONVERT THE HEATING

so I just saw a property come on the market for 13k ! doesnt seem to need more than 20k or so in rehab .

im just unsure because I hear conflicting things about investing in 2 bedrooms.

are could be between 50-60k maybe more if I were to put more into it

thanks for the input guys, I would like to eventually create freedom. I would say it can generate 800-825 bucks monthly

So im new to investing in RE, Im currently investing in single family homes. Im renting one out now & currently renovating one. This renovation has taken way longer than expected, being its covid and there's a lot of weird contractors out here. Im not going to beat myself up about it, I give myself credit for at least  taking the leap.

these are the numbers

19k for initial purchase

10k on new roof and patios

maybe 6k inside with labor

arv 65-70k

im torn between holding or flipping...we are about 85% done I've owned about 6 months

so I created an llc for my investment properties..spoke to someone who questioned " where would this business be located?" I told them I wanted to put my rentals in an llc

this person does happen to be an agent, they just seemed like they didn't really know what I was talking about 

I just want to make sure I'm doing things the right way I don't hear people talking about having physical office spaces.. my llc is created already and in the process of transferring property 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $48,000
Cash invested: $48,000

2 bedroom single family decent sized yard, I know its not the greatest to invest in 2br but I did ! I was drawn by the curb appeal and turn key readiness I guess! lol
I was also eager to just get started

What made you interested in investing in this type of deal?

I was eager to get started in re investing

How did you find this deal and how did you negotiate it?

on the market

What was the outcome?

turned out to be a great cash flowing property

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

re agent

great info guys I really appreciate it !also I do oi need to physically have an office space for the llc ? I heard mixed things just trying to get clarity

properties are in llc and I just want to know any benefits and tips moving forward. I'm a newbie !

thanks guys appreciate it!