All Forum Posts by: Thomas J. Clifford

Welcome Josue - I'm up in the Gainesville area, prepping for my first investment. Enjoy the site and maybe we'll get the chance to meet up sometime soon!

Trusting a peer with your investment when they are just as inexperienced as you because they have a line on a, "great deal." 

Hi Beau - Good to have you around!

Maybe once we can get some semblance of order again, you can join us for one of our meetups!

@Andre Fierro, Ive heard the same about Jose Moreno from another experienced investor here in town. Best of luck.

T.

Kitchen floor with warping edges:

Living room to foyer/kitchen transition:

Appreciate any feedback you all might give - especially hoping for insight on later appraisals and re-sale.

T.

Hello BP community :)

Ran into a little issue tonight - found that when I "fixed" my fridge's drain pan to stop my freezer from forming huge ice sheets at the bottom of the fridge, I caused some kind of leak. 24 hours later, my wife noticed the warping laminate near the fridge. I have this laminate flooring in our kitchen and all 4 bedrooms.

I've gotten a couple of recommendations to install higher end WATERPROOF vinyl plank, and other recommendations to extend the same type of tile from my living/dining room into the kitchen. Each has pros and cons:

Tile:
The tile in my living/dining area has 18"x18" and 12"x12" tiles in a windmill pattern, but Lowe's no longer carries the 18"x18"...So if we transitioned, it would just be 12"x12"...(I could conceivably do 12"x12" and 6"x6" in windmill) but either way it wouldn't quite match.

Vinyl:
As I understand it - its pretty affordable and very tough. I am concerned that bringing in another type and style of flooring might hurt resale/appraisal value when we eventually move out...

What do you think would be the better way to go? Consistent look of the floors with the tile (albeit different pattern layout) or vinyl that is also very sturdy and cost effective, but wouldn't match the rest of the house? 

I'll add pics for a better idea of what I'm talking about.

Thanks to all!

T.

Hi @Karina Woodward - Welcome back to Gainesville! Hope you're able to make it to the next meet up!

Hey Shawn - Thanks for the invite - I'm blocking it off in the calendar right now!

@Damian Hunter

Because my house kinda needs it. 

Hello all - Happy New Year!

I'm in the process of getting capital together in order to buy my first investment. If I wait much longer I'm afraid I'll be stuck in analysis paralysis forever....

In my market in Gainesville / North Central Florida, rural properties that are typically manufactured homes range anywhere from 80k to 150k on the top end. In the city, lots of SFH and condo properties range from 100k to about 350k....

I currently owe a little over 100k on my primary residence and have been offered a refi at a lower interest rate with a cash out at approx 45-50k back. My intention is to use that $45k to update my primary resd a little bit and then use the higher value of my home with these renovations to increase the limit on a HELOC that is based on the value of my home. Projected spendable capital at the end of that process would be, I think, about $30-45k ish....

My question is this: If I were to update my primary resd and subsequently HELOC it, then purchase an investment to attempt to BRRRR, is this a reasonable strategy? Is there something I'm missing? Am I counting on some equity that isn't actually available? Can I also HELOC the investment property as well, giving me available capital for investment #3, and replicate the process over and over from there?

Or is this a terrible idea because of the added debt in my debt:income ratio?

T.