All Forum Posts by: Shelby Ek

Really great job!!! Ive been wondering how this project was turning out for you.

Hi Debra, I am an investor in the area and also run an investHER meetup for to support women investors. I'll private message you.  Lets connect.

@Katie Dortch thank for sharing on here!  We are looking forward to meeting other women investors in the area!

Allentown zoning office.

Great job! I think you have a pretty solid property on your hands. 

Hi Alyssa!  I live, work and invest in in the Allentown area.  I'd love to connect.  I actually am just get started with a Real Estate InvestHER Allentown Meetup (which will be virtual to start).  The goal of this group is to help women investors.  I'll message you the details. We would love to have you join.

Thanks for sharing and congratulations!  Thats a neat property, my investor group actually analyzed this deal when it first came on the market. I own a duplex about a block away from it.  I'll send you a DM, lets connect.

Christine Stefchak is a local Keller Williams agent who works with out of state investors.

We've only done a few projects but I really like figuring out ways to save on garbage removal.  I also keep scrap separate and my scrap guy takes it or we do a scrap run. Good idea with purple hearts to take furniture. Im in a city so I often put any useful items/furniture out to the curb (sometimes I even post it as free on craiglist of fb marketplace) and it's taken within a few hours.  If it's large items it really saves space in a dumpster. We always put out the maximum allowed trash on city garbage nights. Sometimes we separate out wood when doing demo- a pile for possible reuse, a pile get burned.  For plaster and lath demo we keep the lath separate and burn that as well.

When I first started reading this post and replies I had similar thoughts as others, this idea is the opposite of using leverage to scale.  But I can see how this might be a useful option for people in  specific situations, in fact I might be one of them.

Before I came around to understanding how debt can be used as leverage I was paying extra on my mortgage every month (low interest rate, owner occupied duplex I was house hacking).  As I learned more I realized this was some of the cheapest money I could borrow and I was better off putting that extra money every month toward another purchase. I regretted making those extra payments and I always kinda figured that money was now trapped in equity.  I never knew about the option to recast a loan so I just did the math and it looks like a recast would reduce my payments by $40/month.  So for me it's definitely worth at least a call to the bank, if I can do it and there is no fee I just increased my cashflow by almost $500 a year.

So thanks @Scott Benton for sharing this information.