All Forum Posts by: Patrice Reynolds

I'm rehabbing a rental that was tiny and extremely outdated - old plumbing kitchen was an add-on; sloped floors...

The prior owners left a white fridge and black stove... we opted to keep the mismatch appliances and just add a white dishwasher.  We've pretty much had to redo and fix a lot of things. I'm trying to decide if I should have new cabinets installed by a cabinet company or let my contractor do it - which he can do but its becoming a pain looking for the right fit and the cost of cabinets really isn't making it cheaper than just subbing it out.  Thoughts?  Also, do you think its overkill to put an island in a rental or just leave it all open space... this will be a buy and hold... I'm thinking the island is just spending unnecessary money that we won't really recoup during refi. Could use some feedback to make a final decision.  Thanks!!

Thank you so much for the feedback.  Great advise and helps tremendously. 

Thank you for those guidelines. I have one rental which I’m refinancing to pull out about $30k for my next investment project. I’ve flipped one property which was a cash deal and yes it did hold up my cash for about a year plus more. 

I have starting capital and I'm still a bit unclear when I should pay cash to purchase a property or put a mortgage on it so my initial costs are lower.  Is there a rule of thumb?

Really great interest rate for an investment property!! Congrats! Definitely get your LLC rolling.