All Forum Posts by: James Polk

You can't get a HOME equity line of credit on an apartment. 

You can do a cash out refinance on an investment property. 

Jonathan, real estate is shallow but wide. Figure out what area you want to go into: SFR, STR, Co living, Assisted living, etc. Learn what fits your buy box in the market you like. Potentially look at partnerships if you don't live in that state. I would rather have someone in the market that is on my team to manage the deal than a property manager. If you have any questions PM some of the experience investors that replied. I would not start with an 80k house like the previous post says. I have done several 80k homes and the tenants that want to stay in a 80k home are maybe not the tenants that you want to start your first rental.

I will be there.

Hi Ayman, it depends on how it was built.  If you have attic access and the HVAC has the capacity to push the air, then you add an additional duct.  In my case, we added the duct and when the tenant said it was too warm, we added a portable ac unit that has the wheels and exhausts the warm air out of the window.  Yes, I added outlets on all walls.  I pulled the wires in the attic myself and my master electrician wired the panel and the outlet boxes.

https://drive.google.com/drive/folders/13eBDhyzQJ48Xi7UxH5F1...

1) Existing Plans are labeled polk040221.
2) The floor plan dimensions are labeled UHfloorplandraft. Main points are I want the bedrooms on either side of the fridge to be 11' wide which will make the kitchen wall wider.
3) The document labeled SimmonsSite is an approximate location and parking for the lots. I also attached both Surveys for the lots that are next to each other as in my example site plan.(the lots do have different street names on the surveys.

Can you text me at 281-690-7194? I will send you a Google drive link that has a set of plans for the building i want to build.  Just changing the size of some rooms.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $250,000
Cash invested: $60,000

Bought an existing 8/2 Padsplit. We are doing the value add renovation to turn it into 10/3 possible 10/4. Added 1 Bedroom so far on a garage conversion. We will complete a bathroom addition this summer and then add the 10th bedroom in the garage Q3. The attached pictures are the garage conversion.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Holly Brown is my awesome Real Estate Agent, she is a member of bigger pockets.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $200,000
Cash invested: $58,000

I was helping a client find a property and the last house on the list that they didn't have time to see turned out to be a good deal. Property was a 4/2 and we converted it into a Padsplit 8/3 rental that we rent by the room. Purchase price 200k, 20% DSCR Loan, 18k in renovations.

Welcome to Biggerpockets an welcome to Houston!

Hi Omar,

I have a new construction project in houston.  Can you give me a quote for architectural drawings?