All Forum Posts by: Thomas Jackson

@David K. I have contacts at Gridiron Guys Roofing & Construction that will give you an estimate and have great work/prices. Also a few contacts in the electrical world that can handle the panel. Most of the responses are accurate, just get some quotes and shore up your numbers. But either way it sounds like minor/common issues.

Mike, depending on the timing of this I may be able to help with the financing of the rehab as well as do the rehab. Let’s connect! 

Hey David, I’m a contractor/investor  from Ohio but I’m in the process of moving to San Diego. Don’t know what your timeline is but sounds like I could be of some help. Feel free to pm me! 

@Aurora Cooper wow that’s pretty bad from what I can see in the photos. What is the cause of this? Water? Termites? Is the floor on the inside sagging or anything? Could be a relatively easy fix or could be something you really want to stay away from unless the price reflected it.

@Charles Wisniewski time is definitely the only thing that is different. You can find some killer deals at the auctions and I’ve made some very good buys, so I have no complaints.

@Charles Wisniewski I’ve purchased numerous homes through the county courthouse auctions. Every county auction is different and has different rules on how the house is paid for and in what time frame. For example in one of the county’s I buy in, the auction is only held once a month and you need either 5k or 10k cashier checks to bid/purchase. If you win the house, they take your 5k or 10k check and use it as your deposit on the house. Then you sit and wait, it can take upwards of 8 weeks to get all of the paperwork signed and back to you. At that point you will need to pay for the house in full (less you deposit check) by either cash or bank loan. Usually you want to use all cash, because most loans require a inspection and you typically don’t have access to the house yet so that can be a huge problem. (But I have purchased with a loan got the bank inside for an inspection...don’t ask me how, lol) Once the house is paid for it can take another few weeks to get the actually deed and then at that time, you will have full access to the house. Don’t get me wrong I have purchased houses at auctions and completely flipped them and had them ready to be sold even before the deed was in my name. It’s a slightly risky thing to do, but time is money in this game.

@Alles Andrea I agree with Glen, $100k would be a good place to start but that is probably on the low end of a budget for this type of project. I'm just about finishing a 1,700 sqft split level home that was a complete gut inside and out. It was a 3 bedroom, 2 bath and we added a 3rd bath to the upstairs "kids" rooms. We budgeted around $100k for the renovations and but unforeseen things and higher end finishes put us up in the $160k range. There will be a lot of u foreseen things that pop up, but you'll also catch yourself adding additional features along the way since it's your personal residence. Without seeing the house, it's hard to say, but a $150k-200 Reno budget is probably realistic. You really just need to look into the ARV of the house after you are all said and done. With the addition of rental income as well, it will probably all be worth it in the end!

Hey everyone I will be moving to San Diego, CA in the next couples of months and I'm looking to connect with investors, contractors, agents, etc. in the REI world. I currently live in Ohio where I have successfully flipped houses and started to purchase rental properties using the brrrr method. Ideally I'd like to do the same thing in SD and finding the right people/person to team up with would be the goal. Feel free to pm me!

Anyone have insight into these Opportunity Zones and Qualified Opportunity Funds? I’m more specifically interested in the Akron, OH market but I’m guessing all of the “Opportunity Zones” across the country provide the same tax benefits and any info will be appreciated.

@Tyler Holzer why not have new vinyl windows put in? Seems cheaper than capping the old ones.