All Forum Posts by: David Lee

How about

Big pockets member

bigger pockets member

Biggest po ckets membr

@Jim Elston

Welcome to BP. Its good to see another investor in NC. I am a buy and hold investor looking to get into some flips. I have started listening to the podcast and I am on #20 and cant believe how much I have learned. If there is anything I can help you with or questions don't hesitate to ask.

@Carol T.

I have Bamboo in my personal home and I love the way that it looks and my wife is very particular about taking care of it. It seems to get scratched and I don't think a renter will take as good as care of it either. I have used tile in my rentals and the same for it there always seems to be a least 1 or 2 pieces that get broken of chipped. I use laminate on all of my rentals and have for the last 4 years and have not had to replace any of them yet. I even had a small water leak and the floors started to swell. I dried it up and put some cat litter on it and came back the next day to see how bad it was and the cat litter I had put over it helped dry the water out and you could not tell it had even happen. I live in NC as well.

Done.

I found a blog with a lot of different apps like reciepts. http://www.biggerpockets.com/renewsblog/2013/07/26/real-estate-apps/

@Freddy McCloud there is one called zillow that you can use. It needs to be updated a lot more often but is good to find preforclosers.

@Michael Seeker

congrats on the 500th post. The property has 2 of the apartments rented out but the other 4 are going to need work. I figured I would have to do a hard money loan to repair it and then refinance it after. What do you think?

@Michael Seeker This would be for buy and hold

purposes.

@Chris Wyche

I am not familiar with net operating income and cap rates?

I am looking at a 6-plex and I am trying to figure out what kind of offer I should make. I am also trying to figure out what the ARV will be. I have several comps with in 2 miles in the last year but this is the first I have done anything with multi-family. Everything that I have looked into before has been SFH. What is the best way to determine the value of this Multi?

@Adam Drummond Everytime I start think about flipping one I get excited. I have not flipped one yet. The last one I purchased was Bought for $10,000 and put around $7000 in rehab. It is a 5/2 home. I rent it out for $525 a month. There are several different good deals around right now and finding more everyday.