All Forum Posts by: James Syed

@Roy N.

Welcome to BP. 

Thank you, Roy for responding. I am curious to look into "glued edge". I don't like thinner planks because of psychological reasons (they don't look tough enough), but what you describe they are more faithful to the floor ungenerous and hold better, I might have to go with them. Would like to explore further though. 

Thank you.

Hello BP Members, 

I was wondering if members could assist me deciding if I should go "glue on vs snap on" vinly planks. My flooring is a little bit uneven and I have chosen 2 flooring companies after checking into 6-7 companies. 

One company says because the floors a little uneven, they advise to go for glue on, however the other one says they have product that they apply to fill uneven surfaces. 

Any suggestions would be appreciated.

@Lavada Lindsey

Welcome to BP. 

You don't need to graduate from SFR to invest into larger apartment buildings. Talk to a local bank, they are your best bet. Large apartment buidlings will have some extra expenses as compare to a SFR like common area maintenance, trash, lawn care, etc.

Check your local cap rates, cash flow per door, etc in order to evaluate the value of the property. If you have all figures, try biggerpockets calculators. They are great tools. 

Hope it helps.

@Isiah Ferguson

Welcome to BP. 

See my comments just above.

@Kim Meredith Hampton

Welcome to BP. 

Great post!

We do a quarterly inspection regardless. You will be surprised how many things tenants don't tell you about. I have found damaged walls, broken screen doors, broken windows, etc. 

Hope it helps. 

@Ben C.

Welcome to BP. 

Since all 4 were accepted, you are under contract. From now, it depends on the details of your offer as to how you proceed further. If you have contingencies, you could eliminate the not so desirable ones.

Hope it helps.

Welcome to BP. 

@Dom Jones

Generally speaking, one bed or studios are problems because of high turnovers, however, in some market like Chicago, New York, Los Angles, etc, it's just fine to go with one or studioes because the rents are so high that many people are forced to take them. 

Hope it helps.

@Jeff Johnson

Welcome to BP!

Your post is NOT clear. What do you mean by "edit the contract"? Did you mean counteroffer? 

Welcome to BP. 

If it's a single member LLC, it goes on Schedule C.

Hope it helps.

Welcome to BP. 

@Chadd Chase

If the property is in great condition and property location is great (desirable area for tenants), you can manage it yourself. On the other hand, if it's a run down property in a lower income neighborhood, it will probably be worth it to hire a property manager because it will be management intensive.

Hope it helps.