All Forum Posts by: Mike B.

Igor Messano you should be able to cash out refi at 6 month period when your titled is seasoned. Unsure if you're doing this via LLC though. My personal experience is I work FT and homes are in my name. I purchase all cash, fix up and rent out then refi after 6 month period. Oh and LTV of 75% meaning if home is worth 100K, I can cash out 75K (loan of 25K). Hope this helps

@William Plymouth if you're single, buying a duplex with one smaller unit may work out well if (ideally) the neighborhood you're in.. the 2nd unit pays your entire mortgage. Otherwise a triplex is great (assuming good rents etc)... you should be positive cash flow each month, mortgage paid, and you'll house hack your way quickly into the REI business.

Also as an aside, I just had an awful experience with BPG Inspections.. NOT recommended, terrible customer service. 

Maureen Gray it really depends on your area for contractor labor costs as well as material costs. I'm in Philly and if I do most of the work myself it costs me $30/SF. If I hire out some things it goes up to $50/SF. If I hired everything out, maybe $75/SF. Now that can vary depending on total SF of homes but that's what I've found price wise up to 2K sq ft.

If it was me I agree with you. Keep the low interest rate and pay off the home for future gains. $100/month loss isn't bad all things considered. And perhaps rent can be increased in coming years

I buy vinyl replacements from C&R and install myself. I've shopped around and their prices are very competitive. Also have looked into RomaTherm on Washington Ave. they do vinyl and metal frames too if needed.

Agree with the above remarks. Use a larger modern looking porcelain tile with a good grout. I recently found a great modern tile 12x24 at a local tile shop. Best part was it was light modern looking but completely different from what you find in big box stores, gives some character to the property.

I've used Pillars To Posts before and liked them. Very detailed inspector and the reports they provided were great

JT McGraw I don't know what type of tenants you cater to but I've used IKEA cabinets in 3 units now without issue. Granted I did higher end rehabs (SS appliances and quartz tops). To make the cabs last I glue and screw everything together and silicone seal the perimeter bottom of cabinets in case a tenant spills water it won't get into the seams. A 10x10 kitchen, white shaker all soft close doors etc runs about $1800 total

Jem Jacala JD is right they can use chemicals. Colder weather isn't a huge deterrent but yes, you do NOT want to pour concrete when it's freezing temps >24hrs as concrete then can crack and not form properly (from my understanding and being told from concrete guys).