All Forum Posts by: P.J. Hankins

That is the question.

So this may sound like a simple question but it's got me somewhat stumped.

I love the look of 6 panel interior doors, I just think they dress up a house. Most of the properties I've been looking at\working with are older homes, built in the mid to late 70s. Common to all of them are the flat surface hollow core doors. BOOOOORING! A lot of times I'll see homes where the trim has been replaced with nice white painted baseboards and door casings, but the flat boring doors are still there.

So the question is, is it best to switch out boring flat interiors doors with nice 6 panel interior doors or do you just leave them.

Obviously first and foremost is the price point of the home. I can certainly see were doing a change like this could be an over improvement. Conversely I can see were this would be a default upgrade where all it's competition has nicer interior doors.

It's the grey area that I'm wondering about. Does it put my rehab a step ahead of the others, are there better upgrades that can be done that will out shine replacing interior doors....etc.

Let me know your opinion.

Richard,
Great to meet you. I will certainly keep you up to date on what's happening here in East Central Indiana and of course if I go south for anyting towards the Indi area.

My wife and I actually lived in and around Indi for 14 years, Fishers for 5 of those years. We moved back to Muncie when the kids came along...wanted smaller school systems that we could get involved in for the kids sake. From an RE investment business, not the best choice LOL. but We're gonna make it work.

Anyway, I just got my sell signed docs back from Fannie Mae on this rehab project and now we start inspections. I hoping this deal will net us about 12-15 K. I think we have the potential for more, but 12-15 is a conservatively optimistic estimate.

Hey all thanks for the welcome

Robert Adams - The market that I'm in specifically is extremely hot and cold from zip code to zip code. Like everywhere else home prices have dropped significantly over the last 5 years and seem to be going sideways. I personally think there is still a bit of a correction to happen here. There are still a lot (not as many as the past couple years) of vacant homes waiting on the long process of foreclosure\ auction\re-listing. Along with that all of the industry that was here is long gone so the home owning employment base has a correction to go through as well. I personally think however, that its a good place to be if you have money to invest and can move quickly. One thing I'm trying to do is work on the wholesaling stream. I believe there is HUGE opportunity in that here. 30 minutes the south of me is a whole different ball game, Indianapolis and its northern suburbs have always been strong, again prices have dropped, but way more activity. Less foreclosures on the market there. I've stayed close to home to hone my skills in a less favorable area, kind of like jogging with angle weights on. I feel if I can makes stuff happen in a tough area then when I have a little more experience and cash to work with jumping into a better market farther from home should be a little easier. At least that's my therory and I'm sticking to it.

Jon Klaus - I do h ave a day job. I work for HP from home. I've been in IT for about 20 years now. Its been a good field to be in and has really been the financial engine that has allowed me to start this venture. I have a love hate relationship with it :) My ultimate goal is to *have the choice* to walk away in 5 years (Goal start was July 19th 2012, my 40th BD) *if I want.* I make a pretty good salary where I'm at so its going to be tough to walk away, but having that choice to do so is what I'm after. I'm also doing this to be prepared. I still feel the US economy and related aspects have a lot of bad mojo to purge and I want to be prepared for job loss, currency collapse, etc....

Joshua Dorkin - if a profile picture is is what you want, a profile picture is what you get...but consider yourself warned.

Looking forward to working with you all.

PJ

Hi all, its about time in introduce myself. I've been out here reading and learning when I can for about a year now.

My wife and I purchased our first rental 4 years ago, then we bought a second one 2.5 years ago.

We're just off the heals of a successful "flip" in Nov. 2012. It was a foreclosure we'd purchase as a rehab project, but 2 days after signing the contracts we were contacted by a buyer who wanted the property so bad he was willing to net us 5K after all closings. We said Done Deal! 5K for papwerwork...I'll take that any day.

My plan is to build working capital via short term methods like re-habing and wholesaling to fund long term passive income investments. Like most here, the ultimate goal is financial freedom for myself and my family, I'm not limiting myself to real estate, but it's what I understand and feel I'm half way good at.

Right now we have an accepted offer on a FannieMae foreclosed property, we are going to renovate and re-sell. Just waiting for Seller Signed docs...these people drag their feet..ugh!

Any way, while I'm in these lull periods (waiting on the man who now has my earnest money tied up) I do what I can to drum up any potential no cash deals and that's when I hit it hard on places like Bigger Pockets, to bone up on ideas and methods for getting deals and building my buyers lists.

If there is *anyone* from Indiana please shout out. I feel like where I live at is the the black void for like minded investors like my wife and I.

Well, that's it in a nut shell. Thanks to all the all folks here who have shared their knowledge and experience freely. I hope to be one of you soon!

PJ