All Forum Posts by: Tony White

I'm looking for your comments about weather to buy into a community (12 houses or 30 homes) that are part of a HOA community. In talking to several property owners there appears to be a lot of bickering about many details from parking on the street, allowing new owners to plant trees to improve property value etc. Each year there is an increase in HOA dues to cover annual expenses proposed by the board of directors.

Does anyone have experience or succesful argements to dismantle a HOA?

Thanks for your time and suggestions.        

Lesson learned. I have always worked with my tenants to maintain the yard by providing a lawn mower.  However, even if you provide the mower it is your responsibility to service the equipment for the tenant or they will damage your machine.  I suggest hiring an insured landscape crew. The benefit you will gain by hiring a crew to cut the lawn, trim the shrubs is another set of eyes watching your investment to catch any other property negelect or illegal activity by your tenants.  

My friend shared this ariticle with me and I thought you might find this quick read worth your time...

Flipping Edges Out Renting As The Preferred Investment Strategy

Survey data collected from investors bidding on property online and at live events across the country reveals that flipping is still the preferred investment strategy among investors, edging out the hold-to-rent strategy for the fourth consecutive quarter

Survey respondents who indicated that they were making a one-time purchase clearly preferred a hold-to-rent strategy, while respondents identifying themselves as full-time "real estate investors" and those indicating that they were working on behalf of another investor strongly favored flipping.

Read more at :

http://www.prnewswire.com/news-releases/flipping-edges-out-renting-as-the-preferred-investment-strategy-for-the-fourth-consecutive-quarter-according-to-auctioncom-real-estate-investor-activity-report-300168540.html

Share of Flipped Homes Increases 18 Percent

43,197 single family homes and condos (5.0 percent of all single family home and condo sales during the quarter) were flipped (sold as part of an armslength sale for the second time within a 12month period) - RealtyTrac®’s Q3 2015 U.S. Home Flipping Report

The 5.0 percent share in the third quarter was down 7 percent from a 5.4 percent share in the second quarter but up 18 percent from a 4.3 percent share in the third quarter of 2014

(when the share of U.S. homes flipped hit the lowest quarterly level going back to the first quarter of 2000)

The average gross flipping profit (the difference between the purchase price and the flipped price, not including rehab costs and other expenses incurred, which flipping experts

estimate typically run between 20 percent and 33 percent of the property’s after repair value)—was $62,122 for completed home flips in the third quarter (vs $62,521 in the second quarter and $61,781 in the third quarter of 2014)

The average gross return on investment (the average gross profit as a percentage of the average original purchase price) was 33.8 percent for completed home flips in the

third quarter, down from 34.4 percent in the previous quarter but up from 32.7 percent in the third quarter of 2014.

Read more at :

http://rismedia.com/2015-10-28/share-of-flipped-homes-increases-18-percent/

Interested in connecting with an agent in St Louis, MO who works as a buyers agent.

You are off to a get start.  Pay off the credit debt and take advantage living at home and saving up more money to find real estate deals. 

On the short term carpet appears the most cost effective solution, but in CO having wood floors will attract a lot more renters.  I had success with tile flooring and tile planks that look like wood. Here are a few examples...

http://www.thebuilderdepot.com/redwmahog6x36.html?ref=lexity&_vs=shopzilla&_vm=productsearch

http://www.lowes.com/Wood-Look-Tile/_/N-1z0y8zw/pl#!

I'm not associated with the builders depot or Lowes at the time of this post. 

Very impressive!  Thanks for making the time and sharing your successful project.

Smaller frig and smaller stove seems to be the realistic option for your problem. You are not working with a lot of space, and any possible renter for this building would not be looking for full size appliances or trying to have the family over for a holiday dinner.