Hi all,

Don't have a property in mind for this but thinking ahead. If I bought say a 20 unit in MA/NH that needed de-leading what kind of grant money is out there?

Are the grants guaranteed or can you be refused?

I...

I have a cash offer in on a 10 year old, 1069 sq Foot,  3/3 Townhome that needs more than a little work (Replacing the carpets and linoleum with laminate floors, sanding, minor patching, painting walls, and re-seeding a 500 sq foot back yard), but not a full rehab. 

Also had to do a lot of  paint and cleaning.

I have someone willing to lend me the closing and down deposit repayment terms 5 years. now when i run my numbers the property cash flows $544 monthly that 544 would go to the person lending me the money meaning first 5 years i would have 0 cashflow. is this a smart move or dangerous. i see it as since everything is fairly new and my current property manager manages this property as well i would add another duplex to my portfolio with 0 cost to me more details about the property below One furnace new in 2014Newer water heatersNew Roof 2015New Electrical service 2015Exterior painted 2015All New windows 2014New Kitchens 2014

It seems most banks are doing repairs like paint, carpet & appliances before listing the properties and pricing accordingly, which really eats into the flipper's profit.

I have someone willing to lend me the closing and down deposit repayment terms 5 years.now when i run my numbers the property cash flows $544 monthly that 544 would go to the person lending me the money meaning first 5 years i would have 0 cashflow. is this a smart move or dangerous. i see it as since everything is fairly new and my current property manager manages this property as well i would add another duplex to my portfolio with 0 cost to me more details about the property below One furnace new in 2014Newer water heatersNew Roof 2015New Electrical service 2015Exterior painted 2015All New windows 2014New Kitchens 2014

I have seen the house in person and it requires minor cosmetic work (carpet, paint, fixtures).

@AndreaHello Andrea, I may be able to give you some insight but I'd like to take a look at the damage to assess the project and give you a better idea of what needs to be done...I.E...whether it's a simple skim or if a complete tear out and redo is your best bet.I've been working in complete home remodeling for the past 10 years now and have been running my own painting & drywall biz for the past 3. 

We had all intentions of living in it, but due to rehab costs and other new decisions, we are now going to flip it and buy more properties so that we have assets and not one big liability.Here is a quote that I found on the Quickbooks website:  "If you hire someone to paint your business ( store ), for example, you might have to send her a 1099-MISC if the work is over $600.00.

@rich ng I have one tenant who thinks this is like the mall and will go through all of it in one storm to get the entire driveway down to bare pavement