All Forum Posts by: Cheryl S

Hello Everyone!

My name is Cheryl, and I am semi-new as I lurk and have asked a question in the past. I learn SO much from this site. The information on forming an LLC and the 2%/50% rule helped me with my first purchase which was in St. Louis a few months ago.

I always loved old houses, and that has brought me to the world of real estate investing. My interest is in regional architecture, so I am really excited about my first property - a St. Louis Federal style "red brick" in a historic district. I'm a buy and hold newbie investor.

My goals are to buy and renovate to rent (eventually restore) properties all over the country - (i.e., Rowhouse in Baltimore, Cape Cod in New England, etc.). I'm really excited because I feel like I finally found my passion.

Thanks for all the information you all so generously share!

I hope everyone is having a nice holiday season!

I have a four family, three units are rented with tenants I inherited. The other is vacant. Two are slow payers. One is timely with his payments and has been there since 2006. He gets the $50 gift card to their local grocery store (I'm out of state). The other tenants get nada. Maybe I have a soft spot in my heart for him because he adopted a rescue dog with one eye. Anyway, hopefully, nothing changes because of the gesture.

The big gift - 6 bottles of wine and chocolates - go to the property management company, my new BFFs. They deal with the headaches. I figure they can enjoy the wine or drown their sorrows (caused by tenants) in it. :-)

@Michael Lauther - Thank you for the advice. Good point about tenants taking care of the property if they love it.

@Theresa K. - Thank you for your input too. =) I am definitely going with the tile. I'm probably leaning laminate. I've had granite in my kitchen for almost 2.5 years that was sealed with something, and I haven't had to reseal since. Maybe that's why I was thinking it was pretty much bulletproof?

@Uwe K. - Thanks for the advice too. Although, I'm not sure if I can get away with not providing appliances - basics like a refrigerator and stove. Isn't that expected?

@Steve Babiak - Thank you for those very helpful links! Great ideas in there that I wouldn't have even considered. =)

@Priscilla Z - Thank you so much for your response. I'm getting the property cheap too, so I figure I can get more durable materials. =) Thanks again!

@Will Brown - Thank you for responding too. I did a search, and found so many different answers. I think people have their favorite materials to work with. Thanks for that tip on the good price for porcelain tile - never seen it that low. I purchased the Section 8 Bible. There is a lot of good stuff in there. Thanks again!

Hello Everyone,

I had a question about rehabbing a rental property. It's low end. I know I shouldn't go overboard because it's not like I'm living there. However, what do people think about getting things that might last longer?

For example, porcelain tile floors. I'm considering VCT as well, but am worried it may come up if there is a water problem. And countertops - do you go with laminate or granite? Granite, especially prefab is getting cheaper and the kitchen area is small. I definitely want to rein in my spending, but I do want things that I won't be changing any time soon. Thoughts? I appreciate the advice. I usually lurk on here and have learned so much.

=)
Cheryl