All Forum Posts by: Annchen Knodt

If you're interested, I made a comparison chart of floating LVP products when I was shopping last year with a major focus on durability (also share some challenges with replacing carpet with LVP over wooden subfloor): https://www.biggerpockets.com/...

There are lots of great LVP options out there though so I definitely don't think it's necessary to go down the rabbit hole like I did…

I just finished reading Part I of Brandon Turner's new Multifamily Millionaire book (great book!) and am wondering if anyone can answer a very small clarifying question that came up when I was checking out the calculator spreadsheets in the bonus content (i.e. the Multifamily Capital Expenditure Budget Algorithm and the Multifamily Repair Budget Algorithm).

The end result from the calculators is called the "Moving Baseline Number", which is a term I haven't heard before - can anyone provide any additional context on why it's called that?  It's pretty obvious that the number represents the monthly amount to budget for the respective capex / repairs, but I just like to generally make sure i'm getting lingo straight and not missing anything.  Thanks!

@Khalil Badran you should definitely listen to the recent BP podcasts with Pace Morby - lots of great advice for talking to sellers!

Welcome to BP, and congrats on growing your family!! :-)

ditto what Wesley said.  And definitely go to all the meetups!  Plenty of experienced investors love the energy and enthusiasm of young new investors and are happy to share their wisdom if you demonstrate dedication and willingness to learn.  You also have a great chance of forming relationships with people who have properties they might want to unload.

Yes, i don't think you would be able to do DF on a house purchased with a private loan. Though if you are already waiting a few months, you could just make it 6 and do a regular cash-out refi, and then you wouldn't be limited to just getting your upfront costs back. Can see why you wouldn't want to wait though. If you have equity in your primary residence though, you could also consider getting a HELOC and using that to purchase, since HELOC funds won't limit your ability to do DF. Getting that set up may take too long though, so maybe the bridge loan suggested above is the way to go!

You may also be interested in this post https://www.biggerpockets.com/...

Hi @Jason Bohling, hopefully someone experienced with this chimes in here but if not I recommend searching around the forums some if you haven't already since there's been some discussion on this topic, though I'm not sure all of your specific questions have been answered.  Here are some threads I bookmarked that you might find helpful:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

You may also be interested in this strategy: https://www.biggerpockets.com/...

Probably the best thing to do is to talk to the lender you plan on using, because all of it is going to depend on what they are able/willing to do anyways!

And don't forget that with delayed financing you have to be able to document the source of the original purchase funds as being YOUR cash.  I learned that the hard way when trying to apply for DF in my name when the house had been bought with cash out of my partnership.

Best of luck!

Hi @Jack Hritsko, what are you goals with the mailer?  Or you looking to find sellers, or seasoned investors you can learn from?  For the latter, I highly recommend attending any and all meetups in your area that you can find!

Congrats!

@Allison Hodges, I don't have a ton of experience with this but have been through the process of installing LVP on floors that aren't flat/level.  I think usually your best bet is to use 1/4 plywood underlayment and/or some sort of leveling product to fill in low spots along with some method of grinding high spots (primarily you need to get the floor FLAT, not necessarily perfectly level. The installation instructions for the flooring you choose will include specifications, e.g.  must not change more than 1/8" over 10' or something).  

In general people will tell you that a thicker flooring product will be more robust to areas where the floor isn't flat, but the best solution is to always start with a properly prepped subfloor.  It really depends on your tolerance for imperfections and whether you want risk having buckling/separation of planks etc.  I wrote about my experience and included a comparison chart for different LVP brands here.

Good luck!