All Forum Posts by: Andrew Cordle

Kitchen - Arquilla Drive, Richton Park, IL

To improve the kitchen layout, we made a slight modification by creating a bar and connecting it to the opposite wall. It made for a much better design is this space!

We also rearranged the appliances to improve the flow of the kitchen. It cost a little more to move the gas line for the range but the overall improvements were well worth it.

The Crackle Fantasy glass accent pieces (which Home Depot carries in stock) really made a statement in this kitchen; not only did this glass accent match well with the granite counters, it also really pulled all the colors together from the flooring to the Martha Stewart paint on the cabinetry.

Here are some of the SKU's we used in the kitchen:

Cabinets - Unfinished Oak Cabinets (387-246)
Cabinet Color - Mushroom (MSL 248)
Cabinet Handles - 3" Liberty Satin Nickel (731-819)
Backsplash - Crackle Fantasy (773-887), Arctic Ice Subway Glass in White 12" x 12" (Internet Order #202523616)
Backsplash Grout - Polyblend #382 Bone 10-lb. Non-Sanded Grout (123-851)
Stove - Frigidaire 30-inch, 5.0-cf Convection Oven in Stainless Steel (548-983)
Dishwasher - Frigidaire Gallery 24-inch, Front-Control in Stainless Steel (169-416)
Microwave - Frigidaire 30-inch, 1.7-cf, Over-Range in Stainless Steel (533-524)
Refrigerator - Frigidaire Gallery, 26.6-cf in Stainless Steel (405-432)
Granite – Bainbrook (Custom Granite Company)

Link to original article

This is my Rehabs Revealed series. In the future, I'll highlight a different aspect of multiple rehabs. It will demonstrate how my team does what they do so well and, hopefully, give you some ideas you can use in your business! Today, we'll take a look at the outside. Scroll through the images and read a little about how we got started on the project below.

Outside Improvement Strategy:

This property is a classic Chicago two-story house with a partial brick exterior along with vinyl siding. Built in 1944, it also has a detached garage.

The landscaping was a bit challenging on this house for two reasons--first, everything was overgrown, and secondly, there was a big hole in the backyard where a pool used to be. We had some dirt brought in to level out the back yard. You have to have the vision to see past the ugly things--whether they're on the inside of the house or on the outside.

Once the bushes were trimmed down and we added flowers and flower boxes, it really created a nice curb appeal. Although this house was only 1,178 square feet, it really turned out with a nice layout on the inside and a great curb appeal on the outside.

Here are some of the SKU's we used on the outside of the house:
Material list (exterior):
Base Paint - Garden Wall (Behr PP 730D-4)
Trim Paint - Cornerstone (Behr PP 330E-2)
Accent Paint - Intellectual Gray (Behr PP UL260-2)
Front Door Paint - Roasted Pepper (Behr PP 180D-7)
Door Handle - Kwikset Smartkey (745-825)
Numbers - Hillman Group (844-043)
Mailbox - Repainted existing

@Charmaine Williams

Hey welcome to BP. or maybe at least the forum side of BP. As I was reading your message I couldn't help to think you already have a good amount of experience and are probably ahead of the game for most. Anyways, good luck investing. Feel free to reach out. 

In the meantime here are 7 tips to help you grow your business using BP:

1. New to BP?

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan.

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend 30 minutes a day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums:

7. Set yourself up to receive free alerts to be notified of subjects that interest you:

Andrew

@Andy Norcia

You could answer that question a thousand different ways and there are a lot of unkowns as well to this questions sordof like what @Joel Owens is talking about. It is not quite as simple as the stated question. 

However, I will try to answer in a simple and basic way that will maybe shine some light on your question. 

Hands off RE Investing for Cashflow:

1. Find a landlord friendly state. Crap will happen in REI and in landlording, when it comes to tenants I think a mistake investors make is by not first of all finding a landlord friendly state. Example I do rentals in Indiana near Chicago. Eviction time is 2 weeks 10 minutes across the state line now in IL eviction time could be up to 6 months some times. If you are leveraged or free and clear either way you are losing cash.

2. Since the question was about hands off investing. The second thing you need to do is to find your property management team and then a back up and then a back up. If you want to be hands off you will need your management team in place and to keep your cards stacked in your favor always have another PM team ready to go.

3. Once you have this ready now you can start narrowing down your selection of where to invest. I do agree with @Engelo Rumora  that the Midwest can offer some pretty good terms, but now you will face a little hurdle in travel for yourself. But still great returns. 

4. Also one thing you should look for is to determine what type of house you want meaning what type of area. A--B--C--D--F first let me dispel the belief that you cannot make money in F areas or D areas you can make money in any of those areas. But each area comes with its own headaches and its own negatives and its own positives. It is very wise for you to know what you are getting into before just buying a house. 

5. Last piece of advice I will give you is this. Remember in school you did not just make an A--B--C etc you could make an A+A- B+B- C+C- etc and RE is the same type of thing. One approach is to by in a C+ area get good cashflow and watch over time as your property may become a hot bed for flipping, so now you increase in equity as well. But if you are not careful your C+ area could go down to a C- area and you could lose value and that approach is the same for B+and B- etc. 

Anyways I could go on for days. If you want any more thoughts just let me know. 

Good Luck investing. 

Andrew

@Okenna Oparah

The main thing is to try to educate yourself in the business first meaning there are many different ways to make money in REI but to many times I see investors try to do everything they want to be a wholeseller then a flipper then a multi family then subject to then lease option then raise a private money fund etc etc. And don't misunderstand it is ok to grow in your business but that comes over time or maybe as the market dictates.

So at the beginning, try to narrow down who you are and what you want to accomplish and work that way. Also, remember that we all have the same goal for the most part and that is Financial Freedom and more importantly that REI is just a vehicle that gets you to where you want to be the end goal is not REI.

So educate yourself, decide what you want to do right now, create a starting point and a finish line in your financial goals then set up a business plan that helps get you to that finish line while using RE as your vehicle.

Hope that helps a little. 

Andrew

@Shonia Burt

Welcome to BP. I hope your investing career takes off, I know you are for sure in the right place here at BP. I was just over in Marietta today working on a flip, I am sure we will be under construction for the next 45 days or so.  Please let me know if I can help with anything. 

In the meantime here are a couple BP tips to help get you started:

1. New to BP?

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan.

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend 30 minutes a day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums:

7. Set yourself up to receive free alerts to be notified of subjects that interest you:

Andrew

@Joel Pittsley

Hey welcome to BP maybe as a forum poster, it appears you have already done a lot of educating on BP. Anyways, I'm from ATL more on the northside but I grew up in Douglasville and am down there periodically. If you ever need any help just let me know. 

In the meantime:

1. New to BP?

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan.

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend 30 minutes a day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums:

7. Set yourself up to receive free alerts to be notified of subjects that interest you:

Andrew

@Jane George 

Contuninty is very important when it comes to flips. And I see a lot of investors skip right over this concept.

Saying that, in homes of 100k to 180k I have used Engineered Hardwoods/Laminate in these houses for years. I run those floors throughout the house foyer, LR, DR,Kitchen, Hallway then in the bathrooms ceramic tile, and carpet in bedrooms. When that formula I have sold well over 100 houses in retail with that type of flooring. 

If you want any SKUs or pics of flooring let me know and I will get some photos of houses we have done that one. 

AC

@Linda B.

Hey Welcome to the site. The good news is that you are in a great area to invest and of course BP headquarters is there (I believe). Also my thank your husband for his service as that is what allows us to do what we do in REI.

In the meantime:

1. New to BP?

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan.

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend 30 minutes a day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums:

7. Set yourself up to receive free alerts to be notified of subjects that interest you:

Andrew

@Taylor Shields

I like that car idea I wonder if I just got some people on CL that would let me wrap there cars for 750 to 1k then pay them 500 a month or so. Once they are wrapped with a 6K upfront cost for maybe 5 cars. Then my out go would be around the 3k a month but I would have 5 or 6 cars driving all around my area.

I may put my team on that and maybe see if we could do something like that. 

Very interesting. 

AC