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All Forum Posts by: Glenn Jubildo

Glenn Jubildo has started 2 posts and replied 11 times.

Post: Stock Market what do you think

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

Right now I m shorting crude oil. Demand for oil is not going up anytime soon esp with Russia and saudi going all out with this oil war. I'm going long on precious metal mining stocks. Anyone listen to macro voice podcast with erik Townsend? I think  he is predicting stocks will even go lower and bottoming around late may or early june. 

Post: Fixer upper and procrastination

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

I bought a forclosure on the good side of tulare, ca back in may. So far, I have replaced all the windows and remove 2 large hazardous tree in front of the house via contractors. I am slowly doing demo and cleanup. I am taking my time in fixing it up slowly since I am not servicing the debt. However, I know I have monthly expenses with the property tax, utilities and insurance. I plan to hold and rent it out. I am also adding value by planning on adding a 4th bedroom. I am not adding extra sq. footage. After it is all said and done, I plan to rent it out and do cash out refi. SLOW BRRRR. I would like ur feedback if I should get a contractor to do most of the work or should I develop my skills in doing some of the work, thus saving in labor. I am not a beginner nor an expert when it comes to renovation. I have 1 primary home, a secondary home where I stay when I work out of town. I am currently house hacking my secondary home. I have 1 rental with positive cash flow. 4th property is this subject property. Any thoughts and inputs? Thanks for sharing ur valuable time in reading. I appreciate it more if u would leave me with any feedback or advice. Have a blessed and wonderful day.

Post: Portfolio lender in Visalia

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

Not sure if u guys are still looking but I believe eecu is a portfolio lender. I used them when I bought a house in visalia 3 months ago. They service their loans and dont sell it. I will he using them again when I do a cash out refi on my other properties. Hope that helps. Eecu stands for employee Educational credit union.

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

@Patti Robertson and @Will gaston, thanks for the advice. 

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

@Ashton astillero, as mentioned above, the roof is good. To me this is a complete gut job. Am I wrong? The house is 1900 sq ft.

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

The roof and sidings are in good shape.  Here is a detailed bid. It s a little long...thanks for taking the time to read it 

Payments

½ down is required of which plan you choose

2nd draw is half of what is left when Heating is installed

3rd draw is after project is 80%

4th draw is due after completion

Pictures will be sent to ... as progress is moving along. This job can be started next week and completed within 8 to 12 weeks. Depending on weather

The following is the repair bid and information on the said above address. We are a licensed general contractor working in the County of...Permits will need to be pulled.

In order to make this house rentable or saleable some things need to be addressed. Too utilize the maximum value I would make this in to a single 4-5 bedroom house. You would get maximum price for a retail sale and you would get maximum rent as well. Which you could do a section 8 or SSI rental and get a check every month the the Government.

I will be giving you a couple senarios on pricing which the main focus is the heating cost and how you want the heating and AC installed. If you do want AC. Then we will have to go with the Gas forced unit with the trunking or you could have 2 window units

Bid for remodeling

Demo

upstairs kitchen and tub and bathroom

remove all debris from in the crawl space

kitchen down stairs

remove tub shower down stairs

remove old wall furnace

remove old carpet

haul away all trash

Windows and doors

all windows need replaced 14 total, the upstairs windows need to be special glass because of the coding from the building depart for height restrictions

Front door need replaced

All interior doors need replaces

Upstairs

Walls will need to be removed and replaced to convert to a 4-5 bedroom home

All new interior doors need replaced

Plumbing removed there will be no bathroom upstairs

Bathroom

A brand-new bathroom will be installed with a tub shower, vanity, toilet,an faucets. All plumbing will be brand new. The new bathroom will be made bigger with plenty of space off the old bathroom downstairs

The hot water heater will need to be removed as well with proper coding

Kitchen

A new kitchen will be installed downstairs. All new plumbing sink and faucets

Electrical

There are 2 old 60 amp services that need to be completely upgraded to a 200 amp service. Also new wiring will be need in the house as well for code

Lights and fixture where needed

Heating

Option 1

Replace with a completely new furnace, duct work

and gas lines (most expensive)

Option 2

Have wall units installed. 2 downstairs and 1 upstairs

Option 3

Have electric heat installed in entire house

Air conditioning

If you do option 1 heating a can install

If you do option 2 heating can have ac unit in the wall unit

If you do option 3 heating need Window units

Appliances

No appliances is in this bid

Plumbing

All new plumbing will be added to the house

Flooring

Carpet throughout home as well as vinyl in kitchen and bathroom

Trim

Trim installed where needed

Paint

Repair drywall and paint entire house

Notes:

The floor is a little un level this bid does not include leveling the floor. I would have to cut open the floor and see what it needs

This does not include any Air conditioning units

Materials and Labor

Option 1 heating and all the above$39845

Option 2 heating and all the above$37825

Option 3 heating and all the above$36450

If you want air conditioning Add $3500 to the first 2 bids

You need to buy Ac unit for the window on bid 3

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

@anish tulia, where do u invest to get those kinds of returns? I have one rental in the central valley, ca. I bought in it 2015 for 62k through Fannie mae and currently rents for $845. I lived there briefly then rented it out after I purchased a sfr. I currently have no mortgage on both properties. I do have a heloc as 1st lien on my primary home for $200k. I am in process of doing an eloc 1st lien on my investment property for $70k. I have zero balance on my loc. Just trying to staying liquid for the upcoming clearance sale when the economy tanks. In the last recession, did any of you guys have a 1st lien equity line of credit that was frozen due to the credit tightening from the banks? I ve heard of 2nd lien loc that the banks froze. I m just curious. Thanks all

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

@h w beckley, I don't understand the brrrr calc at this time. I guess I need to watch more videos. @migeul, I sense u like this deal. If u lived in the area, I can count u in to partner up?

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

The home is near a university and It will be a 4 to 5 bedroom that will rent $1100. I am more focused on cashflow vs equity. Since it is a total gut, then cap ex and repairs should be minimal. I know I can get a home rent ready at $75k but cap ex and repairs might be higher as time passes by. This is my first post and i know the equity is not much. Thanks for your suggestions @ jack inman

Post: Out of state investor...

Glenn JubildoPosted
  • Visalia and merced
  • Posts 11
  • Votes 2

I plan to brrrr.