All Forum Posts by: Account Closed

When I update a rental, I only fix what is broken, make it clean, safe and presentable. The neighborhood will attract the quality of tenants. What type of condition are the other houses on block?

I would go with the gas. The wow factor in upper end homes will come from your cabinets, counter top, curb appeal. How much more money will an induction cost over gas? Sometimes I tend to get carried away trying to creat a wow factor when I'm really "wowing" myself and shrinking my profit. Go with what you can afford to spend and make money at the same time if it's worth it.

Sounds like you got a good deal. Yes, have her sign a lease with your LLC. Inspect the home to see if there is any there was any maintenance neglected and make those repairs. If It was me I would not get a management company. The question you want to ask yourself is: What could a management company really do for you at this point? You already have a good long term tenant in place and paying on time. You can set up a local bank account so that the tenant can make a deposit to. Get a local handy man that could take care of maintenance if you cannot get to it quick enough.

Thanks for all the replies, I painted the trim and doors in semi gloss White. Looks great. I should have this flip ready in about a week.

I am doing a rehab and the interior doors and trim are stained brown and are in decent condition. When it's time to sell, would it show ok leaving as is in brown or would it show better to paint white?

Derek, I've had diffucult times trying to flip in the type of area you mentioned. This would be great as a rental or to have the mechanicals working and ensure it's a solid house and wholesale it. Either way, let us know your outcome is.

I have been through this once and wasted many hours. When it happened again, I just pull the sink out and replaced sink as well since they start at about $30.

It seems that altisource is the same as gohoming.com this is what I use, the same listings are on the MLS. When they don't sale on regular MLS sometimes the asset manager has the listing broker put the property on the auction site.

Thomas, more information is needed to analyze the deal. Comps, vacancy rate, is it a war zone or note. You know more about this property than we do; it's in your area. Have you been inside, have you talked to the owners or listing agent? Give some more info so you can get more help on the BP end. There is some houses in Chicago and Indianapolis that I would not take for FREE!

For rentals, that's all I look for is 4 bedrooms, if it's a 3 bdr I make sure it has a basement so I can add an extra bedroom and bath.