All Forum Posts by: Zachary R.

@Bill Straw curious how this ended up shaking out? I just moved into a new primary/house hack and came to realize I have a well in my garage. Not sure how it was overlooked during inspection/appraisal/due diligence, but was your title company on the hook in your particular case?

@Neil Cronkrite I'd love to connect with them as well.

This is all solid info, due to the time constraints and travel I'm going to have to defer to a pro that's quoting $2 a foot + stain costs for the full job.  He came to me recommended from my property manager & agent, so I feel comfortable, but does this price sound right?  He'll also have to remove all of the carpet framing.

If anyone has a write up on the laminate install for my other property, I'd also be grateful.  Although, you guys have already been a world of help!

Awesome thanks guys, I'm going to hire it out seeming as though it's minimal costs in the long run.  I appreciate all of the insight/valuable help here.  I'm going to install the laminate in my personal home (house hack.)

thanks for all of the advice, I think I’m going to push back the showings and do this right the first time. Given that I have the laminate and install is paid for, I’m going to shift gears and throw the laminate into my other property. I’ll get two like new/brand new flooring projects out of one and can handle the month of vacancy.

Next question is, do I try to bite this project off DIY or pay a hardwood company to come in and really get these things shining? I’m now only carpeting one bedroom, so budget can be displaced there as well to offset some of the costs associated with the vacancy.

To one of the previous posters, there are no stairs in the house so it’s pretty straightforward on the hardwood restore.

Thanks @David Avetisyan!  I'm researching and it seems like a belt sander + 24 grit is going to get the paint off with some time and patience.  I'd like to avoid chemicals, but if it's not possible I need to consider options.

Has anyone seen any good write ups similar to this outlining the process, particularly when dealing with flooring stained from years of renovations?  The home isn't that old, I believe 1950s, but I'm not sure how to evaluate what kind of wood I'm working with.

I'm leaning toward restoring the old wood and throwing the laminate in the other property, it feels like a win for both properties and might be able to fit into my time crunch by pushing the laminate out to a later date (the second property is a house hack that I currently live in.)

I am currently turning tenants in a 4br/2ba SFH in Arvada, CO and planned to have laminate flooring + new carpet installed on Wednesday. As I'm sure a lot of you have done, I opted to pull out the old stain riddled carpet on my own to save some money on the project. Tonight, to my surprise, I found original hardwood under the carpet and it's actually not in terrible shape.

My question is, am I wrong in thinking that this can be salvaged easily?  I already bought all of the supplied, scheduled both the carpet replacement for the bedrooms and laminate install for living room/hallways to be completed Wednesday with the goal of showing the house by Friday for the weekend.

Salvage or stick to the original plan?  I'm pretty handy on these types of projects, so would love to get the experience doing it on my own, but advice is much appreciated!  I don't know if I can pull off the project in time if I shift gears now, but I have another property that would really benefit from adding the laminate that I've already purchased.  Also - any advice as to how either of the options I've mentioned will impact refinance appraisal?

Also - the back/master bedroom will be carpet since it's the only spot in the house without hardwood underneath the carpet and in pretty rough shape.

Sorry ahead of time for the sideways photos, I am not sure why they turned out like that!

Thanks!

Hey guys! I am in the process of purchasing a primary residence over the next few months and plan to do a blend of house hack/BRRRR. Eventually, likely after the 2 year mark, we will sell the house or turn it into a long term rental beforehand. To date, I have 2 active long term rentals in the Denver/Arvada area.

I would like to structure this in a way that my roommate is also building equity in a partnership.  There are reasons for this, mostly personal, but eventually we will be partnering on a larger scale.  I'm taking the loan in my name, and placing the majority of the downpayment.

My question is - how would you guys propose that I structure the deal post-purchase? Since the loan lives in my name, the downpayment is mostly on my balance sheet, etc. would it make most sense to just transfer into another entity (LLC, etc.) with partial ownership to him? I.E. A percentage ownership with this one specific house?

I'm not sure how to go about this, but it's important to me that he shares in the eventual proceeds.  Also, considering having him pay a higher monthly rent in order to offset some of the costs associated with the downpayment over 2 years.

Any thoughts?

Well, I'm in a bit of perplexity.  I've been extremely lucky this year, with a major goal that is inching up on me day by day. I've sold a home in Austin this year that netted me a solid return, roughly $73K, which was a primary residence.  When I moved to Denver a year ago, I came into some capital and purchased 2 homes here that are both cash flow positive ~$300-350K/mo avg, regardless of appreciation.  I have access to more capital, and I want to get away from my software sales career,  I'm passionate about my own business and I'm demotivated with the pressure of what I'm doing 7-5 (this is conservative, there are 65+ hour weeks that I'm being paid OT time on....)

In a nutshell, I'm making more money in my 9+years of software sales.  I'm also making more money in my 3+ years in real estate.  I feel as though I need another property and sincerely, I am overwhelmed by where I take my own personal business next.  LLCs are in place, 4-5+ year sin personal education to get here in my real estate business. And now, I need a deal....

I'm open to any and every idea @Account Closed