All Forum Posts by: Yeury Galva

@Nate Sanow yes the goal is to cash out refi after all units have been completely renovated. Hopefully 3-4 months from now.

@Zachary H. yea I think I will end up going with granite specially for the durability of it. So I don't have to worry about replacing it anytime soon.

@Al Pat I got quoted 1,060 for a 102 inch granite countertop with 4inch backsplash, sink, installation and installing the sink under the countertop. What do you think about that price?

@Bud Gaffney thank you, I was highly considering granite as it will last forever.

@Jasmine Delves Thank you very much for your input. 

@Anthony Thompson Thank you for your input. It is always appreciated. Solid Surface seems to be the middle ground. I will look into how much it will cost me to do that, if I notice prices similar to what I got quoted for Granite, then I will go with granite. I got quoted 1k for a 102inch countertop with sink included, and installed. Waiting to see what my options will be with a solid surface countertop to see what would be the best fit. 

the only reason why I don't want to use laminate is because the unit is fully updated and everything is good quality.

@Anthony Thompson Thank you for your input. What kind of countertops do you typically recommend for a C class neighborhood. Unit is completely updated with new appliances, LVP flooring, paint, cabinets, etc. I should be able to get top market rent for it. But was really struggling trying to find decent countertops that are not luxury.

Hello Everyone,

I am looking for a second opinion as I am going through my first rehab. I have turned-over a unit and updated everything. I was wondering what kind of countertop does investors recommend? This is a 3triplex located in Woonsocket, RI near Mount Saint Charles Academy. 

- what kind of countertop do people typically do for their rentals?

Thank you in advance,

Yeury Galva 

Thank you so much for your input @Account Closed and good reference to the BRRRR book. Thank you for sharing the contract bid form. That actually helps a ton on writing my contract.

@Anthony Thompson thank you for the tip. I think that's a great idea.

Hello everyone,

Does anyone have a contractor agreement template they can share with me. Currently going through my first rehab and my hard-money lender requires me to have a contract signed with the contractor, which I think its a good idea. Any help would be highly appreciated.

Thanks in advance

@R.J. Petrillo sorry for the late reply. Thank you very much for your tips. I have decided who to hire for the job. Thankfully the property does not need major work like electrical/plumbing. It is mainly cosmetic stuff. But I spoke with my hard money lender and he requires me to assign a contract with the people I am hiring for the job. Do you have any recommendations or have an agreement you can share with me so I can use it as a template?

Also, the property is located in Woonsocket, RI.

Thank you in advance

Hello Everyone,

I am happy to say that 2022 is starting the right way. I am a 23 years old who graduated from college in 2021. Yesterday, I closed on my first multi-family property using hard-money. The property will need a good amount of rehab. Does anyone recommend any tips/tricks about how to hire/interview contractors. Do I have them sign a contract? does anyone recommend any contractor/company? should I go the GC route or should I hire the contractors with specialties (Electrician, Plumber, flooring, etc). I do have some guys already that have been referred to me by other investors. I don't have any GCs in my radar.

Any tips/referrals/opinions would be highly appreciated.

Thank you

@Peter Beckwith thank you, I will take a look at that article.

@Mike Wood I met someone who told me they can get 30fixed rate and about 4% interest rate on a property that's under an LLC. Because I had the same concern as you mention. Everywhere I read, it said that I needed to go the commercial route if I have a property under an LLC. But once again, I will look more into this. I was also thinking about just waiting until it was time to cash out refi to pass the property to my name. Having an umbrella is a great idea. Thank you for your feedback.

@Marcus Auerbach thank you for your input. I will highly consider this approach. If I do find a lender/brokerage that can guarantee me 30 year fixed rate and low interest rates, I might just leave it in the LLC. If I have to go the commercial route, then I will have it on my name.