All Forum Posts by: Amy A.

Find a smart, fearless woman to find your properties and marry her! Ok, that might not be so easy, but start out with a good relationship with a hungry Realtor. Let him know that you plan to buy many houses and that you'll stay faithful to him. Have him set up searches for new listings that meet your criteria and be ready to move quickly when one pops up as they don't last long. Also have him send you listings of recent sales so you can do your own CMA. Take the Realtor's advice, but also don't let him think for you. If the Realtor had an investor's mindset, he wouldn't be sending you the good listings but would go after them himself! You're smart enough to do the analysis; I see you're an engineer and I'm married to one so I know!

Here's what I do with a floor that doesn't need to be completely refinished, assuming it already has a coat of polyurethane on it:
1. Wash it really well with a hardwood floor cleaner.
2. Lightly sand with a pole sander and 100 grit sand paper, with extra sanding of badly scratched areas.
3. Vacuum then mop with mineral spirits.
4. Apply "Fabulon" polyurethane in satin with a lambswool applicator.
I like the soft satin sheen rather than gloss because it doesn't show every imperfection like gloss does. Make sure to wear a mask and open windows. I used to work in laboratories so odors don't often bother me, but this stuff actually gave me a sore throat. It's worth it because it's the best poly I've ever used and I've tried many brands. Also, run a dehumidifier to get it to dry faster. If you missed any spots, do a light sanding and a second coat. If this is for a rental, don't be too meticulous or it'll drive you crazy when the tenants inevitably scratch it!
Maybe this is more info than you asked for, but hopefully will help if you ever need more than "Mop and Glow".

I did small jobs in my parents' manufactured home dealership in Maine when I was a little kid. Ironically, I hated real estate and couldn't wait until I was 13 so I could go work at my grandparents' dairy farm, where I mowed hay, fed calves and milked cows all summer.

I graduated magna cum laude with a BS in Biology and went on to earn a MS in Genetics at the University of California, Davis. I loved working in molecular genetics, but the money was terrible and I gave it up when I had my first child and now have 3 boys. My husband and I bought a "fixer" in northern California and sold it at the peak of the market. At that point I didn't think real estatate was so boring after all! We moved to Maine and bought two small apartment buildings in 2007 and 2008, which I manage. I started "flipping" houses in 2009 and complete 2 - 3 per year.

I'm thinking of getting an MBA because every discipline has it's own language and I want to learn the language of money and expand my investments. I also have a real estate Broker's license and am on some town government boards and am active in my church.

Where I live (Maine) and LLC cannot represent themselves in court for an eviction. Something to keep in mind if you plan to do your own evictions instead of hiring a lawyer. Usually the tenant will move out before court anyway. Also, most lenders will make you individually responsible for a loan (full recourse) so the LLC won't protect you there. I've also heard that it's easy for a good lawyer to penetrate the "corporate veil" of an LLC, but am interested in hearing the experiences of people here with regard to this.

Before you spend lots of $$, buy a dehumidifier from Lowes with a pump and hose to send water out of a window or into a drain. This has worked for me on several houses even when it was so humid that there was standing water. It makes the whole house smell better too.