All Forum Posts by: Cody Evans

I just started doing different things in the investment realm and have been to hasty and it has cost me more in just the past few months. Thank goodness it was only a couple hundred dollars and not a house! 

Analyze the deal conservatively with all potential expenses(worst case scenario) in mind. There are no called strikes in investing, the only way you strike out is by swinging and missing so dont be afraid to let this deal go if it doesnt work with both repairs factored in.

Marvin is exactly right in steering you towards that guide. 

Also go to some meetups for investors in your area. You need to learn your market and meet people that can help you out and want your services.

I am having a tough time wholesaling. Of course I have limited time between my internship, other work, classes and  getting my real estate licensing. If I were you, I would grab any job you can and get your licensing at the same time if real estate is what you want to do. But make sure you get that job while attempting wholesaling on the side all the while searching for a better job. Once you try wholesaling for a month or two and learn about investing here on BP you will know if this is a venture you still wish to pursure. 

All you have to do is picture what will happen if you need legal recourse such as getting rent from them or stealing all your items. How can you not be in trouble with the law if you were ever to explain how these people just got up and stole all your items? 

So what do you think are my chances of winning? I really don't want to let this company back into the house plus however many times more after when something else goes wrong but I really don't want to pay twice as much and for his legal fees.

Hi Sierra,

I am no expert and have not made my first investment yet but I do know that you need to check the zoning as well as laws concerning adding an ADU for a property with your city/county/state etc. It also might be a lot to chew for your first time but it doesn't sound like it would be too impossibly overwhelming. All I know as far as house hacking loans go is the FHA 203 where you can get not only money for your purchase but also for repairs. I am not sure ADU falls under the repairs category.

When around town I always laugh when I see signs that have many words on it but take up too much space to make the text large enough to read. I would have to say to make sure the text is large enough to read and that the phone number is big enough too.

@Matt K.

@Thomas S.

@Andrew Johnson

This cabinet refacing is for my personal living space. The supposed owner came by a week or 2 ago to take a look and offered us a $400 discount to redo the job which in my estimation is ridiculous. He said a week ago that he would come by today, but we had said we arent sure about schedules and never confirmed. Apparently while at work he came by and my friend let him in thinking we wanted that. He fixed warping on a side cabinet, but the new space where he added on corbels had a piece already peeling off and one of the corbels wasnt even attached to the top surface! Then we discovered next that another piece of cabinet is warped! AT what point does this end? We already allowed them in twice. The guy got mad when we showed him the video of what we had discovered and yelled "I'm talking to my lawyer!" and then stormed away in his van.

What is the best course of action after this?

@Michael Guzik

Knowing pricing and what makes houses worth more and how much more it makes the house worth sounds simple but I just recently ran into a situation I did not know how to handle involving that. 

What are actionable steps to begin to learn what a big lot, a second story, type of cabinets/kitchen are worth? 

Obviously it comes with experience but how can you gain that experience if you dont understand how to value a house!?

Thank you very much

I would just call the water company and ask them any questions you have and call a few plumbers as well. That should lead you down the right path.