All Forum Posts by: Stephen Schaefer

Its one pile of red flags. A 15 year old with a FB can pop up with a web search, much less a big 'app developer' or what not. I've had a 'web presence' since I was in my teens, back before the internet was what it is today. If he was banging out $300k a year, why would he be renting? Anyone can doctrine a bank statement. I can make mine say I have $1M. Nothing adds up, send him to the curb. If he was making $300k a year, among working with millionaires in CA developing communities, you'd think he could find a place to live. Boot him, and don't look back. Don't even answer his calls.

You're welcome. And my response wasn't to discourage you at all, either. Wells can be great. They're not these terrible nuisances, they just have a potential to be one. I prefer a well over city water. No water/sewer bill is great, and once you drink well water everyday, all city water tastes like chlorine. The power outage problem can be annoying, just depends where you live. Few times a year if you lose power for an hour, its not that big of a deal, just mind the toilets!

Questions to ask: Why was a new well drilled (if what is new, is a new well hole). Or was it just new plumbing? New pressure tank, new pump, new lines, new regulator. If it was a new well hole, why was it needed? Did the old one dry up, was the water nasty? Smell and drink the water. Prior to buying, get a water test done if you have any doubts. Does the home have a septic tank then? Usually if you have a well, you'd probably have a septic. Whats the condition of that? When was it last pumped (if ever). IS it connected to sewer? Is there a well house? Or is all of the plumbing equipment inside the home, and the well just has a small cover and is plumbed into the house, with the pressure tank and equipment in the home?

Pros: No water bill. 

Cons: Condition of water. Are there periodic water tests required in your area, especially if this will be a rental. Water filters needed? No electricity means no water as well, if theres no electricity to run the pump, as opposed to city water, even if the power is out, you have running water.

IMO peel and stick would certainly stick better to the existing vinyl or whatever that back splash is. Its a smooth surface, just make sure you clean/degrease it properly. I also don't see the point in doing the work to remove the current backsplash, buying adhesive just in order to get yet more vinyl to stick to painted drywall.

If it were me, I would remove it and do it for real. That being said, I personally don't like using the same exact product on the floor and back splash. In a sense it matches, but it also just looks 'wrong' to me, especially if its something like 12x12 ceramic for the back splash. I like much smaller tiles. Longer rectangles like subway tiles, or a mixture of small squares + rectangles. Matching the color scheme.

I don't think its wrong to use vinyl as a backsplash, so long as it looks great, and it certainly can. But I still wouldn't use the same for both. Find something that goes well with the floor, but is different. If you put vinyl up as the backsplash, just make sure you research to insure its adhered properly, and won't peel or fall off. And if you go with that picture of that 12x12 peel and stick, with the faux smaller tiles. I'd perhaps use a different pattern that looks like smaller rectangles, on the backsplash.

Is there somewhere nearby outside of your area where your 70k could flip without needing any additional money? "Being the flipper" is only one side of the coin, perhaps finding your local REI association, and instead of flipping, you could be the lender for smaller projects.

Yeah, silly isn't it. You could quit school is the reason. You could quit your job too, but who in their right mind would quit school while getting paid to go? Our home we bought VA, the only income the lender used was my wife's VA disability, they did not, and could not use her BAH for gi bill/school.

Not looking for out of state investors- perhaps if you've been scoping out the area and you're interested for whatever reason, and looking for win-wins. Then mayyyyyybe. Otherwise I'll probably respectfully decline.

I'm looking for someone in Hot Springs / Central Arkansas area and hoping this flags them. Seeking private lenders or financial partners to have a more personable REI relationship for both fix and flips and buy and holds (long and short term) market of Hot Springs specifically.

This will be in the sub 20k thru 40k range, with ARVs in the 30k-90k range (for FnF). B&H in the $500-$900 for maybe some SFR, but primarily searching duplexes that themselves are low buy fixer uppers, $500-700.

Tired of seeing $11k duplexes pass me by! I know you're out there, seen you running searches :) hah

Since the yeilds may be (will be) small potatoes at first, this may be suited for an individual who either already has, or has plans to venture out in the REI world, but may be hesitant on knowing the local market, deals, finding contractors (heard horror stories), etc. That's my side of the game, and speaking of which, I'll be happy to include my 'skin in the game' as well once we get to talking.

Oh, and shame you can't select more than one of the type of ad above, for example clicking 'partners' and 'financing', instead of one or the other. Just a thought 

As a general rule of thumb, ceilings can be painted with flat as they get almost no use or dirt (an exception may be a ceiling vent, but even then dust sucks right up with a vacuum).

Flat paint is cheaper than any other finish. And most people tend to like white ceilings with whichever colored walls. So you save few bucks if you can get away with painting the entire house ceiling the same color. Then spend the money on eggshell or semi for the walls.

Just a tip  :)

EDIT: Just noticed this was a few months old hah.