I want the repair start ASAP but can’t seems  to find  the right  person that’s honest and won’t take advantage of me  ?

hello, thanks all for taking the time to read this. my wife and i just started investing in real estate we are about to rent our first rental property and are in contract for our second house. the house we are about to rent its only under my name i told my wife to open an llc under her name i recently came accross this video from bp talking about i could have issues with doing such thing. pls any advised would be appreciated thanks.

I would strongly recommend not consigning any loan/HELOC for this property. 

Kris now has a strong desire to teach other people how to become financially free through win-wins in real estate.

Where to start?

Everyone has their own number here but I'd say start with 15% gross rents and see how that treats you for a couple years.

What you pay with labor will depend on if for instance one of my units still has a good pad and tack and strip then I just pay for carpet and installation cost.What you will pay will also depend on how much you are installing at one time.I don't like Berber for rentals.The design of the loop once it starts unraveling it can unwind pretty good an dis harder to get certain stains and pet stuff out of it.With carpet you want a Nylon carpet even if the cheaper version.Some carpet guys will try to sell you the rubber composite carpet stuff which is the really cheap stuff so it will stand up to tenant abuse.The problem is it can only be cleaned usually up to one time and then you need to replace it again.So I would rather get a cheaper nylon that can be re-cleaned many times over after installation for an additional .10 to .15 a sq ft extra than the super cheap stuff I will have to replace again.If you get 1 sq ft for carpet,pad,tack and strip,and labor install and it is Nylon you are getting one heck of a deal.Even at a carpet place usually you are at .40 to .50 for the pad and .50 to .60 for a cheap carpet.Then you have to do material to install and labor.I have seen sometimes if you have to do a small area you can pick up quality remnant pieces for real cheap and hit that type of number or buy in bulk.

I would like to pull out some equity from my primary property so I can start investing in real estate, but my house is in need of some renovation.

The house will be vacant starting September 2024. 

Started with a house hack in 2017 and got to 10 units through house hacking before getting laid off from JPMorgan in 2019.