All Forum Posts by: Stephen Kunen

@Ingrid J. well the main thing is that until the full demolition is done, which it is, you can’t really be certain what is behind the walls, unless you open up a wall or portion of one beforehand, which you can’t really do that easily. Then second it was difficult to get the full access in the short amount of time we had to close on this one. We should have budgeted more for a contingency, lesson learned but we can handle the extra work as the budget was large overall and we think we will save on some of the cosmetic aspects of the rehab and focus more on the key structural ones for now. Then get it rented and refinance out. Once the second round of tenants start coming in we can upgrade the finishes a bit more.

Thank you @Jeffery Wilen. So when looking to cash out refinance after the work is done is this information something we give to that appraiser? How do we frame that to them?

We recently purchased a 6 unit building and are in the process of rehabbing it. Because it’s a very old building (more than 100 years), turned out there is more work needed than our initial scope. Most notably, it looks like we will need to re-do all the plumbing to replace into pvc pipes, and also converting the gas heat into electric so we can separately meter the electricity and also replacing and modernizing up from knob and tube wiring. We’ve heard that these improvements will increase the appraised value. Can someone confirm this? What is the best way to convince the appraisers? Does showing separate sub metering for electric and water help? Thanks in advance!

@Rebecca E. yes turns out there is one in the area we can check out, thanks. 

@Tim Johnson thanks for the tips about lumber yard and local places. @Syed H. and I spoke at length about some options and local places too; the builders grade point is also a good one we should note

@Mark J.I’ll look into the Wilkes barre shop too. 

Thanks all for the suggestions and I’d be interested to hear about the answer to @Manuel Segarra IIIs question too. 

Hi, we are renovating a 6 unit in Allentown PA with small apartments (walk through 2 bedrooms). For the most part, we need materials to outfit kitchens & baths - ie: countertops, sinks, cabinets, toilets, faucet etc. The Home Depot quote comes out to be quite high (over $20k), so we are wondering if there is another source where we can get cheaper materials? Thanks in advance!

Hello,

I’m looking to get more information about tax liens and tax deeds for investing with purposes of getting the high interest rates and in some cases the property if the location matches my current market.

What are some of the best tax lien investing resources out there?

Thanks,

Steve

Any news on that Simplisafe discount? I'll need to use it as we are rehabbing a project now and will need some security. 

Thanks

I’m interested as well

finding good deals 

@Basit 

@Basit Siddiqiundefined