All Forum Posts by: Will Browm

A crap load of work and and only a couple of payments to collect interest before you flip it... Just my guess.

My first SFR was the grease capital of the world in the kitchen. I scrubbed the walls three times and then painted Kilz floor, ceiling and cabinets. Then I painted everything. It was not enough. The grease bled through. I had to Kilz it all two more times.

Yes, if I ever had a tenant cause this, I would definitely take it from their deposit.

My two homes I bought for cash were $35K for purchases and closing costs. I spent $15K in repairs/rehab for an all-in $50K. Rented for a combined $1550 per month.

I am not super risk averse but I have no ability to get leverage. I am super happy to stay out of debt and I should be able to buy a 3rd house in a couple months. There are several ways to do this and neither is wrong. Charles Perkins I appreciate your opinions and understanding that not all will go one single path.

Love these posts! From my county, no less. Hope you are not teaching my kid!

There are no HUD police that I know of. It would be a bad scene if you got caught. The entire purpose is to put police, firemen and teachers in the area they work. If you are unwilling to live there, you should not follow the course you are suggesting.

2 months. I knew that I would make a few mistakes but went for it.

Automatically, I can say that Rentometer is a LOT better estimate than Zillow. Check online ads and Craigslist for area homes. I also have no idea how to assume costs for solar panel. Some may not even consider that a benefit but a deterrent.

Every day I see something or learn something that I did not know before. Today's learning is the phrase "Holy Cowpatties"!!!

While I agree that there is some time after rehab where you may "cash flow", it seems to me with a $720 note you won't cash flow for long with $1350 in rent. Are you accurate with your ARV or hopeful? The longer he stays, it is likely your repairs and beauty will be getting aged and scratched. It may be smart to take the small loss. If you are seeing some growth in prices, holding on could be wise. Good luck.

If you do a quick search, this has been discussed often. I own two rentals in lower income areas. I definitely put bulletproof porcelain tile ($.69 from Floor and Decor) everywhere that made sense. No carpet ever. I actually painted some hardwood floors and my tenants LOVE them. Instead of replacing counter tops, I paint them with Rustoleum counter top paint.

A lot of people follow the Section 8 Bible when fixing up homes for lower income; may be a wise purchase.

My last rehab (my 2nd) instead of going nuts on demo, I listed a ton of what i considered useless items on Craigslist. I sold well over $1K in stuff, donated another $1k and had a bunch of trash removed for free. My rehab costs were less than $3K so this changed my cash out considerably.

Do a search and listen to Mike Quarles' voicemail where his life is threatened by a guy that rejceived a letter. No, do not leave your personal address.