All Forum Posts by: Samuel Eddinger

Hey @Bala Sri.  Welcome to BiggerPockets. I highly recommend @David Morizio .  Dave, can you help answer some questions?

Welcome @Preet Oberoi.  I fix and flip in CT so if you would like to discuss, DM me and we can have a phone call.  The hard part on every fix and flip is to find a property with enough meet on the bone to make a good profit.

I always loved having an HELOC on my primary residence as the answer for me. That way I can use it when I need it and pay it down when I don't.

@Marcos Gutierrez - I am an investor, flipper, and own a PM company in central CT.  I'd love to connect and understand more about what you are doing.  If interested, DM me and we can have a conversation.

Welcome @Javier Henao.  I am a property management company owner in central CT.  I always love to network with other PM companies.  Maybe we can each refer each other business.  If interested, DM me.

@Anthony Acosta - welcome.  I'm an investor, flipper, and property management company owner in central CT.  I'd love to Network.  If interested, DM me.

@Dan Green - I think it is really hard to do this. Since there is a co-owner, you would have to purchase the property and it is really hard (if not impossible) to pull a HELOC as the basis for the purchase (since it is not your primary residence). You could try a DSCR loan. Perhaps @Devin Peterson can help?

Welcome @Zach McKay.  I'm a investor, flipper and property management company owner who specializes in central CT.  Congratulations on your journey.  If you want to build a large number of properties, get connected with local meetups.  @Ryan Luby has a good one in New Haven already.

If you'd like to discuss anything further, I'd be happy to chat.  DM me if you do.

@Bala Sri - I'm a CT based investor, flipper, and property management owner.  This can be hard for a number of reasons and is generally not worth it.  If the room is more squarish then cutting it in half will generally make two really small rooms.  If the room is long, it could be better.  Additionally, you'll need to put a door in, electricity for lights in, heating in, repair the floor, repaint, etc.  The amount of money adds up quickly.

What are the dimensions of the room you are looking to convert in two.  Maybe you can add in some pictures.

@Unal Baris Kancoglu - if it is an easy switch out, probably $8k right now.  I own a property management company in CT and that is what I'm seeing.  You could get lucky at $6k but I'm guessing the quotes will come in at $8k or higher.  

Please let us know how it goes.