All Forum Posts by: Valerie Hiscoe

@Jason Noah Choi

There are many things on BP that you could review about the BRRRR strategy that would be enlightening for you. Also, why 10% when he has such good mortgage opportunities?

@Account Closed

Were you able to find a realtor to work with yet?  Maybe ask that question specifically on a forum.  Good luck with it all.

@Kate J.

How's your rehab coming along?  The decisions along the way are always tough until you start specializing on certain properties in certain areas and get a chance to duplicate and streamline things - what kind of decisions have you made so far?  I think your choice to go with hardwood through the whole main floor (because it's a half bath only, I probably would have gone with the hardwood in the powder room too - although a high gloss porcelain could be very luxe too).  Did you decide to go with carpet for the upstairs?  I probably would not have as I earlier mentioned but I did hear that Home Depot had a free installation special a month or so ago.

@Jeff Berg I really liked a lot of the ideas you passed on - especially about installing large tiles diagonally - I've seen some great specials on those porcelain tiles at Home Depot too - although they differ by store - it's something I haven't seen too many examples of in flips though.  What do you think?

Hope the staircase thing is turning out great!  Keep a record of your steps on film - we're anxious to see your struggles, solutions, and final product.  Best of luck!

@Jay Hinrichs

It's two months later so it's unlikely, but if you still have a property that you're finished with (if Avi didn't scoop them up), could I have more information please?

@Omar Ismael

I'm interested in your area - I was looking at Trenton too - although I've never been there.  Do you deal with Section 8 or...... ? Is your exit strategy similar - owner financing?  Is there a realtor that you'd recommend for the area?  How did your three duplexes turn out?  Did your $25k average repair cost work out for you?

@Avi Garg  As with everyone else - First off - CONGRATULATIONS on revving up the machine - not sure about selling your place though - Second of all - could I have the name of your financier too?  Thanks very much.  Best wishes!!

@J Scott

I know in the past you commented favorably on 'House Flipping Spreadsheet (.com)' which has a whole host of uses such as analyzing deals, managing projects, and tracking expenses.  There's even a business plan section available.  It doesn't seem to follow your format as closely as I was hoping (I know it was developed with a fair amount of input from Bigger Pocketers), but it looks quite helpful in many ways.  Would it be something that you'd recommend? It creates shopping lists and little bonuses like that so it has a few more things than the spreadsheet that comes with your Flipping/Estimating books.  Have you looked at it lately?  Do you think it would work in with your methodology and breakdown?

@Manolo D.  What do you think?

Has anyone used it?

I believe that

@Bill R.'s comment about the value of the US's dollar lays in it's stability, is right 'on the money'. (Sorry)  The US's economy is one of the strongest economies in the world and, even with 2008 etc., it was bound to recover.  This kind of unknown however, the unpredictability and lack of personal responsibility that Trump has and has always had, could bring war, never mind a drop in the dollar.  I hope I am being over-dramatic, and I'm sure that a little shaking up of the status quo never hurts, but I'm a lot less worried about the future of 'the dollar' than I am about the future.  But as @Ray Lai said, I'll just mind my circle of influence.  I don't want to be a chicken little so I'll just focus on the possible upsides and hope for the best.

Was it my imagination or did you ask for advice.

I agree with Bradley above.  I think too many people your age are trying to decide on their degree by calculating how much money they can make with it instead of following what they are interested and good at, which - if your motivation is to make money - you will find a way to make money doing what you love.  That might not be EXACTLY what Bradley said, but you understand my meaning.

You don't need a degree to be successful in real estate.  A good understanding of basic math is sure useful though.  The more you work in real estate - whether you're painting houses, selling houses, or doing comparative analyses of housing markets - you'll start learning what you need to know in the niches out there that might be of interest to you.

Why don't you start through some of the education and tools tabs from above and tell us what grabs your interest?

I agree with @Tony Gunter.  I'd think it over before putting carpet in a rental.  I've heard that Home Depot has a free installation special on - not sure if it's still on - but once you add in underlay and everything (not to mention the cleaning or replacing between tenants), carpet is not your least expensive option and it's definitely not your best one.  Luxury Vinyl Plank flooring is pretty fabulous these days - it's gotten better and better and looks just as good as laminate any day.  And it's waterproof and you can get it almost indestructible.  I'd take a good look at that first because it's easy to install, some similar to the 'click' floors of laminate, engineered wood, etc. 

You have lots of other good, more economically sound and attractive options.  You'll definitely take away a lot of your renter's pool by putting in carpet.  No one with kids will want to live there for sure.

Hope you find something nice!

Why don't you look under the 'Tools' heading above and use one of the calculators.  They make a good looking report when you print it out.

@John Kesner

OMG - that sounds like just the ticket!  Love, love, love that it would give you a view.  Brilliant plan to almost double your rent.  Have you gotten any quotes for raising the roof yet?  Also, you're going to have to really use your design sense if you're cooperating in the same market as the modern rehabber/builder.  Especially, they'll have the 'cool' feature of being a restored commercial space.  But definitely getting some prices on I'd think and then figure out how long it would take to make back the expenditure in increased rent.

@George P.

I agree with you so much about doing what you can to up the bedroom count.  Any way you look at it, leaving that one unit as a one-bedroom is a total waste of space if there's a possibility of a cost efficient way to add another