All Forum Posts by: Wendy S.

Great. That was going to be my next question about pulling equity out. I'm still learning but after my last refinance, I think I'm leaning more towards a Hel or Heloc

@Evan Parker

Congrats on the purchase, renovation and getting a tenant in quickly.

However, I don't understand your maths, how did you come up with just $19,000 invested? Is this $19,000 just for the renovation? Did you take over the existing mortgage or some similar strategy so almost no money out of pocket?

Hi @Kent Clawson, won't be eligible for refinancing until early February. The unpermitted resulted in a lower appraisal prior to closing on the purchase. 

Thanks Charles. I too like the wood looking but more of a light brown with red tinge hence my Oak Trail being at the pricey end. The grays I'm not a fan of, they scream investor and I want a softer look in the home. 

@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?