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All Forum Posts by: Thomas Rodgers

Thomas Rodgers has started 13 posts and replied 23 times.

Post: Default rehad item list

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

Does anyone have something like a default product list they use for renovating rooms? I am doing a light rehab to a room and the list just keeps getting longer lol.

Also, is it worth updating ungrounded wiring or just get it up to code and leave it alone?

Also posted to facebook.

Post: Covering asbestos tile

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

What is the best way to cover up asbestos tile? I have the 9x9 tiles with the black mastic and was thinking that just covering the tiles with epoxy is the best way to go.

My plan is to clean with acetone and do the primer and epoxy going a little heavy in the spots with missing tile. After that dries i was going to lay a vapor barrier and do some lifeproof lvp. Is this a reasonable plan or is there a better way to handle this

Thank you.

Post: First time home owner

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

@Samuel Coronado

Thank you I will look into that.

Post: Best way to make the repair

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

@Richard F.

Do you have a product you recommend for lvp?

Post: Best way to make the repair

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

I have a bit of a dilemma now.

I just had a leak detection for a small leak and then it turned into a flooded basement where my brother is living. After removing the carpet it looks like asbestos tile is underneath and I am not sure what the right thing to do is. Should I just seal it up with killz or something and put some lvp on top of it or have someone come in and test it/remove it professionally? Also, would you guys know if insurance would cover the flooring at all or would the adjuster have to say it needs replaced?

Thanks in advance.

Post: First time home owner

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

Looking for some advice.

Trying to make a long story short, after 2+ years of listening and learning about real estate, I finally made my first purchase. I spent those 2 years paying off debt and trying to build an emergency fund which is only at $10k now. After working on a strategy to try and do live in flips with a family of 4 and keep the previous houses as rentals, I completely abandoned that plan when we decided that we were not willing to change the school district and that there were not many opportunities because of the rural area our school district is in. So we decided to just buy a primary residence and then focus on saving for an investment property which gave us the freedom to invest anywhere.

The problem being, I believe I messed up by giving myself a sense of urgency because my brother was getting out of the military and wanted to live with us while he goes to school and we were living in a mobile home park which means we didn’t have much room for everyone. I figured this would count as a small house hack since he agreed to pay $500/ month in rent. We made a couple offers and missed out on some houses but then got one for $250k with $10k in credits to buy the rate down. It’s a 1960s house that is a little outdated but in decent shape.

We have recently discovered that there is a main water feed line leaking near the garage which allowed water to come up from a corner and puddle up on the garage floor. I have owned the home for about 2 months now and the purchasing process was not a very good one. I definitely did not do some things that I knew I should have and have learned my lesson but I am not sure the best way to handle this.

I have started the process of getting estimates for the repair and have a couple options. Would it be best to have the plumber update the line so the leak detection company can find the leak and possibly do a repair which is expected to be around $6k+ depending on the location of the leak or have the do a complete water service where they bore in a new line and update the valves which is around $13k? Also, is it best to just use up the emergency fund I spent so long building or is there any other options to try and fund the repair? And lastly, what is the best way to have some type of lease agreement for my brother to use as proof of housing?

Any help or advice is greatly appreciated.

Thank you.

Post: Referals for my first purchase

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

@Dennis Muno

Thanks I tried using the BP realtor finder but they havent been too responsive. I have one pre approval letter and working on another one

Post: Referals for my first purchase

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

I have started the pre approval process and was wondering if anyone had any recommendations for a realator and bank in the middletown ohio area.

So far I have talked to two banks and two realtors.

Thanks.

Post: Is it time to try and make a move or should I wait?

Thomas RodgersPosted
  • Middletown, OH
  • Posts 23
  • Votes 6

It has been almost a year since I finished paying off my debt and starting saving for my emergency fund which is at about $8k now. I got convinced to take a pretty expensive vacation with my family this year which will cost about $6k which is gonna set me back a little less than a year from my goal of a funded emergency fund and a minimum of a 5% down payment on my first house, which sucks but is manageable. 

I have been scrolling through listings on Zillow and redfin to keep my eye on the market and to get a good feel as to what prices to expect and my current plan is to but a house that needs updated and to live in my first house to a year while making the updates to try and maximize the sweat equity.My spouse wants me to stay in the current school district which kind of makes things a little harder because its more of a rural area and there is another school close by. We are trying to stay in Madison school district which is close to Middletown SD but is advertised as not solely based on location which I still need to call and verify. 

I came across a house that is in that SD advertised as corporate owned and seller is treating it as a foreclosure and needs some TLC. List price $140k, 1400 sqft, 3 bed 1 bath, listed for 45 days. Only 2 pictures of the outside and it does not look too bad but no garage and close to a main street. All this to ask, is this something I should try and do something with? With the low down payment there would be much cash flow if any and really no comps to get an idea of what rents could be. All the rental calculators I have used range from $1350-$1050, Zillow ARV comps $150k-$210k. I was thinking about contacting the agent and trying to get some more information but I am not sure if there is anything specific I should ask. I thinking of asking things like what condition its in and if any seller type financing options are available to get me started or if I should still focus on getting my funds together and maybe just find an agent to send me listing in the mean time.

I am not sure if I am going about this the wrong way, if I should start going for things like this, or just wait until I have a stronger financial position. Any advice would be greatly appreciated.

@Alex Gunnerson thanks a lot for the great advise. I would like to have a pretty good criteria as well as money set up before getting to the agent so I that I do not waste their time. Would you recommend talking to one even before I am in a position to act on a good deal?