All Forum Posts by: Michael McCoy

Thanks everyone for your feedback and suggestions it has been extremely valuable.  For sure going to get the water heater done.

Recently closed on our first REI. Plan is to hold and rent it out for a while. The place was built in 95 and still has the original HVAC which is an R-22 unit. The outside unit looks bad but we had a professional come by who inspected the system and said there is some damage to the screen from pets and it's old but everything is working properly. It would be a little over 3k to get a new unit which is a consideration as it is over 20 yrs and R-22 is getting phased out. I'm really looking for advice here...should I pay the cost to get a new unit or just get a warranty like AHS and just wait until it dies? Same situation with the water heater too (except there is a small leak on one of the copper pipes coming of of the water heater).

Amanda, thanks for the advice I'll certainly look into that!

Russell, thank you!

Das, thanks so much for the recommendations I'll be sure to follow up on some of those!

Greetings BP folks! We're just starting the adventure in the real estate investment game and are preparing to close on our first property in Jacksonville, NC. It's a bit scary but we are looking forward to learning a TON! Since being turned on to BP I've already learned so much in a couple weeks! Wanted to just post an initial "hello" on the site and hopefully start linking up with other investors in the North Carolina market. This first venture of ours we plan to retain for cash flow but wanted to also reach out to hear anyone's thoughts on flipping in the Jacksonville area and if the current market is favorable to that type of venture. Although we are starting with a single family residence we hope to move into multi family and commercial investments in the future. It's good to be here and I look forward to learning from all of you! Thanks!