All Forum Posts by: Cody Lindstrom

Congrats Josh!  We are excited to one day be landlords as well. Probably in the next couple of months. 

I am hoping you get response from someone who's currently in your shoes, but I'll throw an idea in for consideration for the content of the letter.  I would consider making the initial switch of ownership as painless as possible for the tenants, i.e. just have them pay the same way they have been, except to you, of course.  Then, in the same letter you could introduce the idea of the new process, which would start later, maybe at the 1st of the year for example.  And then let them know that more detail would come in the following month or two. Just giggle their tree, dont shake it haha.  Just my two pennies.  Again.  Congratulations Josh  

I've moved on from this property.  There were just too many neighborhood issues to go forward.  

We are now looking at a rehab home in a great area. We would use VA financing and live in it for at least 1-2 years, while we rehab. I'll have my contractor (I have one now) walk through today or tomorrow if I can set it up. I think I'll take the RE course during this rehab time as well. that way I will have better access to the MLS in the future.

Excellent! 

That helps a lot. $25 definitely seemed light.  

Thank you. I’ll start working up a spreadsheet that I can access online from my phone. Great idea. 

This is a great topic for me to explore. I'm new and have yet to buy my first investment property. I haven't decided what avenue to take yet, but to start I'm getting a HELOC on my current primary residence. I'm military; still serving; so I have the VA loan opportunity. Depending on what we find as a first property; I think we will first go for the house hack option and use HELOC or possibly a 203k to rehab over the first year. But if we find a flip I would use a hard money lender to fund the 20% down and HELOC to rehab and flip. Hopefully then I can use that profit to fund the 20% on the next flip. There are lots of ways to work this. I just need a trigger pull property

I talked with a contractor today and he’s averaging 25-35k for a full kitchen remodel alone. Cabinets and countertops 

North Dakota 

I have a newer home that has been treated badly, but the issues are mostly cosmetic. I need to do a rather quick assessment to see if it’s worth putting in an offer, and to make sure that it’s the right offer if I do. I don’t have access to a contractor immediately, so I am going off of the Podcasts info I learned. One episode talked about a heavy remodel would be 25 per square. Is that really what I could expect to pay? Can I use that for quick assessments? Is it conservative?