All Forum Posts by: Shiloh Cunningham

I can't speak to house hacking there, but I researched that area before because I was interested in rental properties. From what I read and was told, rent prices are not very strong there. House hacking would probably work great though. Good luck!

I would say that is good. I have only been able to find 20% at 5% interest. Loads better than hard money loans!

I would be concerned about that closing timeline if they switched to FHA. Not only that, but an appraiser may come along and find things that are against FHA guidelines, which would mean more things for you to deal with. If you are confident that your market is hot, I would not let them switch.

If you are able to, maybe you could ask the neighbors if they ever have an issue with flooding? If there is a low chance and there is no finished basement, I personally wouldn't bother with the flood insurance.

Perhaps a wire came loose in a junction box, or else all the outlets are in a line and the first outlet is dead.

Just following up with you both. How did your project turn out? I put mine on the market last month and accepted an offer just a few days after that. 

Also interested if I would be able to attend virtually? 

@Evan Polaski That's good you aren't too bogged down. Hopefully since steps to reopen the public have been established, we can start seeing work done at it's usual pace. Although, I'm sure contractors are now backed up!

Looks like you really are stuck @Erica Redcross! It's fortunate you have a good margin to work with. Just one of the risks we all take in investing I suppose!

Hi Erica, you mention needing a permit for the second floor and roof. Can you contractor do work on any other areas of the house like the outside or first floor? I think that would be your only option other than trying to call up and persuade your local inspector to come out. Perhaps if the inspector knew the house vacant, they would make an exception? 

Hey BP, just wanted to go over a couple pain points I am having with my flip during the Coronavirus period and see what others are experiencing as well. Luckily, It is not affecting too much for me, but there are some issues starting to arise now. 

Usually, I take all the demo materials to our local transfer station. Takes more time up, but it can save money on not renting a dumpster. The transfer station, however, is closed to the general public (besides commercial customers) . As a result, junk is really starting to pile up in the house! One way around this would be to just rent a dumpster or perhaps pay a local contractor that has an account there to dump it for you.

My second pain is many of the local contractors and subs, are getting picky about the jobs they take or are not working at all right now over concerns they might contract the plague. I have found it helpful to tell them the house is vacant, and they are then more willing to take on a project where few people will be around.

What are you all experiencing?