All Forum Posts by: Sean Autry

Following this discussion to see what feedback you get. I have a MFR in the high desert (first investment). Cash flowed nicely for several months, but recently I've had tenant issues (inherited tenants). Tenant base is sub-par up there, but I'm still optimistic we can find good ones and keep this place cash flowing.... Point of my saying that is cash flow can be found here in socal if you can stomach the more distant towns and the headaches of a C-class area. On the other hand- I myself am curious about out of state... being a newbie in SoCal (a very expensive state), I'm in a similar boat as you... eager to hear what others have to say.

Yes, you can do this. I used a HELOC on my primary as part of the down Pmt on my rental. Several months later (now) I am working on a HELOC on my rental. Once it closes I will transfer the debt from my primary to my rental, and then repeat the process again very soon. If you can source deals well below market- then in theory you could repeat this process many times over.

Pentagon Federal. They have a couple great HELOC options for investment property.

Thank you Dustin Beam ; very helpful. I'll give them a shot.

Cody L. Thanks for your input! I noticed you're in SD. Are your flooring people in CA? Any chance you can PM me their referral?

Samantha Klein Matthew Olszak , thank you for the feedback. Glad to hear more votes for my not being crazy... If it helps at all- they mentioned that they would lay the flooring right over the existing flooring (so no tearing up and disposing of the old stuff)z. Their reasoning was that the original subfloor might have asbestos, so it's better not to tear it up. In my mind- that means less cost for them, and potentially less expensive for me. Thoughts?

Thank you Kyle Doney , $1750 to $2000 @ 500 sqft is closer to what I expected. So far 1 vote for me not being crazy.

*tile, not told

To add context- I did porcelain told and carpet in my primary for $3,500 a number of years back (1500 sqft). Using that S a point of reference, this quote seems high to me. I'm in CA; I imagine that makes a difference.

... it was $3,500 per unit @ roughly 500 sq ft per unit (waterproof laminate). I've priced just the materials at Home Depot for the Allure vinyl water resistant flooring and it was closer to $1.1k/unit (just materials)... What are other landlords spending on flooring? Is $3,500/unit for waterproof laminate high? Am I just being cheap or undervaluing the labor? This is my first rental and first time doing floors, so I'm curious what others are spending.