All Forum Posts by: Zachary Schofield

My every day driver is a paid for 2007 ford ranger, it gets the material from depot to the houses. My Sunday driver is a restored 1970 Ford Mustang, the one in my picture.

Welcome,

There seems to be a few of us from GA on here, I'm in Savannah.

While this may have been re-started by a spammer it still brings up a good point. On all three foreclosures I’ve bought the power has only been turned off at the breakers the meters where still installed, but this may just be my utilities polices. I just go turn it on check what I need to the turn it back off.

When I rehab a house I intend to rent it out, I’m not sure what your plans are, but what I do it get some comps in the neighborhood. I like my houses to be the best in the neighborhood but if all of the comps have old cabinets I will refinish, if some have new ones then I will put in new ones that are at least as good if not better (within reason). You would be surprised how cheap you can get cabinets for.
While it is hard to do in kitchens, bath vanities can be bought from those over stock and slightly damaged stock in the back corner of home depot. I just bought the vanities for my duplex for $36 each including the sinks.

When the term "rape house" only ment that I could lower my first offer my 10%.

Thanks, Though right now I'm in the middle of the rehab on the duplex I.E. tossing money hand over fist at it. It is also taking a little more time than I thought it would, between my regular job, and working on my masters, it really is a project.

I’m relatively new to the owning income property. I bought my first in NOV of 2010, a foreclosed SFH, I bought it for 54K put 3K into it and now rent it for $850 per month. This month I closed on my second rental, a duplex; this was bought under my LLC’s name. I won it at auction for 25k and am in the process of rehabbing it. All told it should take about 10K to fix up, so a 35k total investment, and should rent for between $1300 and $1400 a month.

I think I have made some good investments with these two, but hope to learn from those of you who have done this before.

Zach