All Forum Posts by: Wendy S.

@Charles Large Thank you. Yes they do have but it's the closest match to the already exisiting flooring. Also it's the color and features I was looking at. So is it that all LVP is waterproof, and scratch resilient?

Good day All. I'm having a dilemma choosing LVP flooring for a buy and hold remodel that will ultimately be a Personal Care Home in Georgia..

The choices are Traffic Master LVP @$1.78/sqft, Duralux Rigid Core LVP $1.58/sqft (sale price cut from $2.29) and Lifeproof LVP @$2.78/sqft.

Based on the product features, warranty, etc I'm leaning towards Lifeproof which is sold exclusively by HD.

Any seasoned floor experts out there that can weigh in?

BTW, price is definitely a factor.

Traffic Master covers 24sqft per case for $42.95

Duralux covers 21.41sqft for 33.83

Lifeproof covers 20.06 sqft for $55.76

@Richard Chen, @Stone Jin, @Douglas Holden. This is a rather interesting discussion.

As a new Investor myself I totally agree that it would make a lot of sense to keep existing Rental property which is not only providing cash flow now but also building wealth, unless it has several deferred maintenance that you're trying to avoid.

Based on the Op's disclosure it seems there isn't sufficient money for down payment, would there be even any for closing costs?

Another viewpoint not factored in as parents we sometimes fail to remember that our children grow up and sometimes outgrow the family homes they were raised in. So while Op is looking to buy house for more yard space etc, the kids will then grow and possibly move for college etc. Will the new big house still be desirable? Yes, right now moving in the new big primary might seem like the in thing but will it later be cause for regrets. Personally, I don't think I'll be living in any primary residence for the next 15 to 20 years, given my kids have already completed at least 1 first degree, own primary residence etc and I am also in my 40s. How will you pay for college for all the extra curricular activities they will get into for middle school and beyond as well as college? Will you then sacrifice quality of life for the new primary residence.

Quality of life is important, building wealth is too so try to find a balance.

Maybe rent short term, while you seek to find a great deal, rent to own, owner finance etc.

Cheers and the best to you.

@Chukwudi Motanya thanks for the list.

Have you tried PNC or Synvous bank?

Thanks John. Appreciate the details to your answer as well. 

@John Teachout

Interesting on the sheet vinyl vs tile in the bathrooms. Is there a reason for this, other than tiling being more expensive and perhaps more labor intensive. When it comes to appraisal would this matter and which would be better in the long run?

Good day everyone.

So recently bought first rental property, sellers wouldn't budge on their price much even though I added supporting Inspection report.

Property was listed as a 4/4 ranch, however, the Appraiser adjusted the appraisal saying it was a non permitted garage conversion hence a 3/3. Property still appraised in excess of PP, so I figured ok I'll end up buying at full price with 2 of the repairs issue I had wanted them to remedy.

In addition to the illegal/unpermitted conversion there is an enclosed 'sunroom' with enough space for 1 bedroom self contained unit (more on that later). If I rented to a single family for about $1,350 with PITI of $634 it would still cash flow. This however is not my model as I'm a per room model but in this case having done the math with only 3 bedrooms it would make sense to just rent to 1 family, get that out the way then deal with the non-permitted as well as other side of house. Btw, house is zoned SFh and has 2 separate driveways on two different roads with a huge yard space all around.

Decided to do some remodel and make the 3/3 nice. Work just got underway and master bedroom and bath shows that there is leak which was previously patched going to foundation. So the whole floor is rotted out.

My thoughts are 'when life gives u lemon u make lemonade.' So I'm thinking with all the extra costs I'm looking at, why not fix correctly and convert master bathroom to another bedroom thus having a 4/2 situation vs 3/3. Bathroom already had 2 entrances one from master bedroom and one going to living room. So just a window and closet would be needed to make a bedroom. Then depending on the outcome with the unpermitted I could have that as well as another Bedroom with bath on the other side of house later. A 4/2 now makes for better cashflow renting by room as well.

Curious to know your thoughts on the above as well as SPD had no repairs done prior or any issues but contractor is saying based on the patchwork done all around the perimeter of that side of the house they should have been aware. Any recourse here? I'm also trying to see if insurance will cover for structural damage?

Hi, anyone know which credit unions or banks offering Interest only LOCs in Georgia?

@ Daniel Kong. Not sure you missed where I said I used another lender and closed at 3.625% with 20% down. Paid $120 to keep the rate after I reduced the loan from $100K to $96,000.

@Matthew Ringer

Thanks