All Forum Posts by: Adam Drummond

@Cortez Dameron

there isn't anyway of knowing.  in my neck of the woods monthly hoa dues for condos kills any potential for cash flow.  

adam

@Jim K.

thanks jim.  i am actually hiring this out.  found a guy that is refinishing about 500 sqft including blending in an old air return patch for about $750 total.  i couldn't argue with that.  my experience with anything oil based.. is that it is pretty potent stuff.  

adam

@Jim K.  

perfect.  thanks for the reply.  

adam

@Arlan Potter

thanks for the reply.  do you have any pictures of any of the floors that you have refinished?  thanks,  adam

@Aaron Farr

Nice!  i haven't tackled anything near that scale yet.  my next one will be about 70k or so in total reno costs.  post pics when you're done.  

adam

i am having some 80 year old oak floors refinished this week on a rental that i own.  i want to go with a lighter color.  has anyone ever went without using stain, and just kept the natural color.  of course, i am going to get multiple coats of poly to finish it off.  i figured lighter color will definately hide scratches.  all rooms are pretty small, and hopefully light colored floors make it feel brighter.  any ideas, or pictures of floors that you have refinished??  

thanks,

adam

@Matt K.

$1k per month is a lot of money to spend.  i have never bought an investment property where my payment is anywhere near $1k per month.  ofcourse, you're in california where it costs way more to live.  

@Chasity Couch  

i believe it's a good deal if you're the mentor.  not so much if you're the student.  i know that i have helped people, and tried to answer questions along my real estate path.  i have also found some investors (not all though are willing of course) that are ahead of me in the real estate game, and have helped me.  i would not have been able to afford 1k per month when i started out.  then to give up 50% of the deal on top of that.  seems a bit much to me.  that's just my opinion.  best of luck.

adam

In today's hot real estate market where things are typically selling without being on the market for very long, why would a seller consider a land contract?  In my mind, if a seller can sale his property out right..  then why would they entertain a land contract offer?  I understand that some sellers would rather not take a huge lump sum on a property for tax reasons.  From my understanding though, with land contracts, most buyers put hardly any money down.  I have owner financed two properties to buyers in the past, and i required a down payment with both offers.   Also, both properties sat on the market for months w/o selling outright.  Thanks in advace.

Adam

@Jonathan Rice

hey Jonathan,

i live in greenville as well.  i currently have two old houses that i plan on using as rentals, but still under renovation.  i always enjoy meeting other investors in greenville.  

adam