All Forum Posts by: Dave Charron

Thanks Jon, I will have to look in to what other comps in the neighborhood are doing.

I am reselling this after rehab. I would not want the laminates in my own house but after looking at some of them they do look like the real thing and probably wear better. Im just not sure of buyers opinions on laminate vs real wood. Some of the laminates are pretty cheap $1 to $3 sf. which makes them very tempting.

My flip I will close on in a few weeks (the bank accepted my offer yesterday! YEEHA!) has concrete slab. I really want the look of hardwoods for living, dining room. Looks like I am stuck with some kind of floating floor due to the concrete slab.

Any recommendations for products you guys have used that look like real hardwoods and dont break the budget?

When it comes to a tenant, its always someone elses fault! When they dont have rent its because of their girlfriend, dog, boyfriend, mother, father, sister, brother, uncle, whatever you get the drift. Hold out for a quality tenant, I made the mistake of taking the quick money too many times.

I'll have to talk to my agent as to what the comparable homes in this neighborhood have. He is also doing a cma tonight to give me an idea where we will be when done, and that will also weigh in on whether I can afford the extra for sheetrock. Values of homes in this neighborhood are all over the place from $70k all the way up to $105k but the higher ones ($90k and up) are newer than mine.

This is a neighborhood I am not real familiar with yet (next town over) so I am relying on my agent for values as he lives and sells in the area.

Thank you guys for your input.

Im working on a rehab right now with a pretty tight budget. Lots of paneling that is in pretty good shape. Its already been painted over and would look fine if I just painted it again. I know for a higher end home that I would be expected to tear it out and put in sheet rock.

My question is where is the price cut-off? This house after rehab will sell for about $80K maybe a little more. Would you stick with the paneling or replace?

Just FYI, other work I am doing is all new flooring, doors, trim, full gut on kitchen and bath and paint exterior.

What do ya think?

You can do most of the research to find properties in the evenings and as long as your able to make a few phone calls here and there during the day you will do fine.

One problem you may have during the winter months is looking at homes during daylight hours depending on when you get out of work. Then again theres always weekends, but you dont always want to wait until the weekend to jump on a good deal as it may be gone by then.

Ive been on for a few weeks now and never thought to introduce myself, so here it is...

I've been mostly a buy and hold investor for about the last 8 years. I have since sold all of my rentals and currently own my residence and my business property of which I operate my main stream of income (landscaping business).

I am now interested in buying and rehabbing properties during slower times of the year. My existing crews and myself are capable of doing almost all the rehab work ourselves. I will only have to sub out a few things.

I actually made a cash offer yesterday on an REO and Im currently waiting for a response. So if I get this one I'll be off and running!

Jscott- I didnt realize that you could not even have a signed purchase contract within that 90 days. I now see the problem more clearly.

Seems like the 90 day rule is only a minor inconvenience unless doing a quick flip with only minor repairs needed. 4-6 weeks for rehab and another 4-5 weeks to sell and close and your within a couple weeks of the 90 days anyways.