All Forum Posts by: Sage Souther

One of the units I’m remodeling has this VERY LARGE existing pocket door that leads into one of the bedrooms. I think the door is beautiful and adds a lot of character to the home. The problem, it’s very loud when it shuts. This could be fixed but it would Definity require some creativity and man hours to make it shut quietly.

This really comes down to personal preference. Would you keep the door or get rid of it? Like I stated before it adds a lot of character to the home, it’s an old New England home that was built in 1885. From my research the door is worth between $2-4k if I was to save it and try and sell it.

I'm doing a DIY video series on this current BRRRR project. If you have time, check it out and let me know what you think. Link is in my bio

@Masood Amin

I just entered my 1st real estate partnership. Partnerships are very powerful when implemented correctly. Each of you should provide value to one another in a way the other lacks in. For example, me and my partner are implementing the BRRRR strategy on this deal. I could not have gotten this deal without him because I could not qualify for the mortgage by myself. I brought him the deal, he fronted the entire downpayment and closing costs, he's responsible for the operating costs, My responsibly is to manage the construction process. We are both equal 50/50 owners of this property, he provides value to me on the financial end, I provide value to him on the construction process (I'm very experienced in residential remodels)

Transparency is key. It is very important that each of you have an exact understanding of each other’s personal finances. Always have a legally binding partnership describing each other’s responsibilities, how money or equity is split, and always plan for the partnership to end. Usually, all partnerships end at some point

I’m doing a DIY video series on my project. I’m sharing all the numbers and issues that will come up with this deal. Feel free to check it out and let me know what you think. Link is in my bio

@Alex Place Under the hardwood is ½” plywood and under the plywood is the original boards. I’ve done a lot of similar projects for floors that were a lot worse than this one. It’s A LOT of work. If you’re curious and have the time, I’m doing a DIY video series on this project. Feel free to check it out (link in bio) and let me know what you think. Thanks for commenting. 

@Karl B. 😂😂

@Allan Smith The hump really isn’t that bad. It is definitely noticeable but I agree in the sense most tenants wouldn’t care and we plan on holding on to this property for a while. 

 @Bruce Woodruff The wood floors really do look so much better. I’m just worried about tenants screwing them up in the context of refinishing the original pine floors. 

Hello BP community! Just recently closed on my 1st investment property (Duplex located in Amesbury MA). Me and my partner are implementing the BRRRR strategy and plan to hold on to this property for a good while. Id like to get some opinions on what some more experienced investors would do in this circumstance.

One of the units has some existing hardwood flooring thought the kitchen, hallways, and bathroom. The flooring is in really good shape, just needs a refinish to make it like-new. It’s probably hard to tell from the pictures, but there is a big hump in the middle of the floor (about ½”) along with a slight sag in the hallway area. It’s an old New England house that was built in 1885 so it’s really not that surprising. The floor itself is very solid. The reason why there is a hump in the middle is because that part is an addition to the original house and whoever did it, did not match the floor very well (you can see it in the basement)

My 1st question: Would you keep and refinish the hardwood and just live with the floor hump, or tear out hardwood, level the floor with floor leveler, then install LVP.

My 2nd question: Would you refinish the original pine floors (see pictures of grey flooring) or install LVP. I think the pine floors would astatically look better if refinished in polyurethane but I feel like it wouldn’t stand the test of time against tenants comparted to LVP.

The hump really doesn’t bother me all that much, maybe I’m overthinking it. I’m going to be doing all the work so the most cost-Efficient option money and time wise is to save the hardwood. This whole unit is getting a full renovation anyway so now would be the time to address it. Every other room is getting LVP over original pine floors for long term durability against tenants.

More Details

• Purchase Price $210k
• Renovation Cost $120k
• ARV: 650K

I’m doing a DIY construction video series for this project on my YouTube channel. Feel free to check it out and let me know what you think. Link is in my bio, Thanks for reading.

Hello BP community! Just recently closed on my 1st investment property (Duplex located in Amesbury MA). Me and my partner are implementing the BRRRR strategy and plan to hold on to this property for a good while. Id like to get some opinions on what some more experienced investors would do in this circumstance.

One of the units has some existing hardwood flooring thought the kitchen, hallways, and bathroom. The flooring is in really good shape, just needs a refinish to make it like-new. It’s probably hard to tell from the pictures, but there is a big hump in the middle of the floor (about 3/8”) along with a slight sag in the hallway area. It’s an old New England house that was built in 1885 so it’s really not that surprising. The floor itself is very solid. The reason why there is a hump in the middle is because that part is an addition to the original house and whoever did it, did not match the floor very well (you can see it in the basement)

My 1st question: Would you keep and refinish the hardwood and just live with the floor hump, or tear out hardwood, level the floor with floor leveler, then install LVP.

My 2nd question: Would you refinish the original pine floors (see pictures of grey flooring) or install LVP. I think the pine floors would astatically look better if refinished in polyurethane but I feel like it wouldn’t stand the test of time against tenants comparted to LVP.

The hump really doesn’t bother me all that much, maybe I’m overthinking it. I’m going to be doing all the work so the most cost-Efficient option money and time wise is to save the hardwood. This whole unit is getting a full renovation anyway so now would be the time to address it. Every other room is getting LVP over original pine floors for long term durability against tenants.

More Details

• Purchase Price $210k b
• Renovation Cost $120k
• ARV: 650K

I’m doing a DIY construction video series for this project on my YouTube channel. Feel free to check it out and let me know what you think. Link is in my bio, Thanks for reading.

@Colin Kelly-Rand We got the best rate we could for the time. All in all we went through 2 applications to find the right bank to finance the property (it's in rough shape, barley financeable). We are implementing the BRRRR strategy so we aren't to concerned with the rate on this mortgage because we are looking to refinance out 8-12 months from now when all the work is completed. It's a non-owner-occupied investment property so we had to do 25% down on $210k pp

I’m doing a DIY construction video series on this project on my YouTube channel. Feel free to check it out and let me know what you think. Link is in my bio, Thanks for reading.

@Kevin Sobilo The house needs a lot of work and my rehab budget does account for replacing the paneling. I was just thinking of ways to cut costs and save time so I figured id see what other investors thought. I would say the property is going to fall within the B Class. I live in a super expensive area so gross rent for each unit will be 2300-2600 depending if I can squeeze another bedroom.

I’m doing a DIY YouTube video series on this project. Feel free to check it out and let me know what you think. Link is in my profile bio