All Forum Posts by: Taylor Klepper

@Will Barnard Thank you for the info. The second part of my question was more geared to the timing of engaging the different subs. At what point in a renovation would you have the electrician, for example, giving the estimate? Same for plumber. Are you engaging them before you start demo? Do you have an existing and demo plan as well as the new layout plan for the skilled trades for them to determine SOW or do you detail the SOW only and your contractors provide the general budget number and the cost gets more detailed as they get into the Reno?

I’ve got a question for those of you that flip without rolling up your own sleeves, but dirst a little backgrou d. I’ve always been the kind of guy that does everything myself, and have alreadu done all the work required for full gut rehabs myself at some point (and have taken one project all the way through). However, I’ve moved into a situation where I no longer have the time to do the work myself, but still love the process. When it comes to the skilled trades (plumbing, HVAC, electrical), I’ve got my bases covered. My question is more centered around the demo/framing portions of the projects. Who/where do you use to handle demo? The framing contractor? Some random kids from the nearest high school? A handyman? Also, when approaching the kickoff of a Project, what is your sequence of getting folks in to work?

@Will Gaston thank you for your input Will. My struggle with that strategy is that my approach to level of finish would be a little different depending on the route that I take in finishing the property. If i am sure that I will go the Rent strategy, I would spend a bit more to put in more durable finishes such as tile flooring potentially higher grade countertops and casework, etc, compared to flipping. Just trying to make a decision prior to starting the project.

In my first deal, I just closed on a 5 property purchase (4 single families and a 4 plex) and all of the properties have long term renters except 1 single family. The properties have been a part of a portfolio that has been grossly neglected over the years, and the rent reflects that. I am located in a small town just outside of Fort Wayne, IN. There is a large demand for rentals here in my town, but the supply is almost non existent and the current quality of rentals on the market is less than stellar (derelict houses rentIng for the 375-450/month). All this to say, there aren’t really any middle to high end properties are the market to rent. Which brings me to my actual question. The vacant single family needs a full rehab (which I have already done this to my own home) and I am wrestling with the strategy. Should I improve the property and use as a proof of concept to see if my market can handle a higher rent factor? Or should i flip the property and continue to roll the money into more properties and hopefully accelerate appreciation by improving the housing stock that is currently here? Thanks for your input! Taylor

@Sterling White I am new to REI, so I haven't made any purchases to-date. I work as a civil engineer here in Cincinnati, so I fortunately I get the inside scoop on a lot of up and coming developments in the area, which will help once I start making purchases.

So long story short, no, not yet.

Sterling White In regards to you question about college hill: There is some pretty decent investment going on there now and in the near future. Here is an article from the business courier that talks about a couple of the developments coming soon. http://www.bizjournals.com/cincinnati/news/2016/07/08/11m-mixed-use-project-coming-to-this-cincinnati.html

Hey guys! Thanks for the welcoming words! We are pretty excited for the new family addition! I can't wait to get plugged in to the community here in town. I am going to see if I can rework my schedule to make the meeting on the 28th, so hopefully I'll be able to introduce myself in person. 

Hey all! My name is Taylor and I'm 25. I am married and we are expecting our first child in July, so naturally I thought, lets buy another property! Haha! I am new to the world of REI, but I have worked in residential construction and am currently working as a site civil engineer. While I am interested in it all (I get new ideas with every podcast episode that I listen to), I am primarily interested in buy-and-hold and flips. I have gained some knowledge through the process of selling one property FSBO and purchasing my current place through a traditional bank loan. I have a whole lot to learn before I dive in with my first purchase, and am really excited to be joining this community!