All Forum Posts by: Jeff King

Glaze the tile if it's intact. That stuff is a PITA to remove.

Thanks for the response. What if hypothetically the current value as is $25,000, could I possibly get a HELOC? The house is listed as my personal residence, but because it's under construction it is not habitable right now. Could that work? I'm gonna start searching tomorrow for lenders and see what they say. Thanks Jon, I'm gonna make some calls tomorrow. Hopefully I do learn a thing or two, always looking to learn!

Thanks for the response. What if hypothetically the current value as is $25,000, could I possibly get a HELOC? The house is listed as my personal residence, but because it's under construction it is not habitable right now. Could that work? I'm gonna start searching tomorrow for lenders and see what they say.

Im still a newb to REI and have an unusual position but need some advice from more experienced investors. I bought a house free & clear in southeast MI last December and am currently rehabbing to get rent ready. Paid $5500 including taxes and closing costs but place is by no means a dump or anything its just in a low income city. ( Inkster Mi ) ARV I estimate to be $45-50,000.00. Due to a personal situation which could lead to another RE purchase I need to come up with 10-15K cash. Is there anyway I can borrow against future value or put a mortgage on the property for 70-80% of its current value? Any advice greatly appreciated, if it helps my credit score is 660-690.

Al Williamson that's a lot of work for not much money IMO

Tom A. I hope to make it there. I met you last October I believe at the renegade investors meeting. Been super busy but did buy my first property and am currently rehabbing it.

Jason Cobb thanks for your help. I'm going to talk to some local investors and get some input.

Thanks for the responses. I'm barely on BP from my computer I always use this app on my phone. When I get home I'll check out the resources page. I'll talk to my realtor on Tuesday which is when the closing is so I'll see her anyways.

How did you guys/gals create your lease agreements? Gonna be renting out a house this spring and have absolutely 0 experience with this. Might have a property manager handle everything but I would rather do it myself. Any suggestions where to find good lease agreements?

^^^ Rob nailed it! Flexible pipes usuall aren't allowed, look out for flexible plastic dryer vents! MAJOR FIRE HAZARD!