All Forum Posts by: John Williams

@Mike Griffin

I highly recommend The Millionaire Real Estate Investor by Gary Keller.

There are definitely some passive ways to invest in real estate. However, if you're willing to put in the work and conduct the necessary research you can probably get a higher ROI in real estate than you can in the stock market!

Is there a good accredited online program that will allow me to get my real estate license (in Tennessee)?

I am doing a rehab project on a triplex. I have a small budget of $10-15k. However, if I had the money I could easily find uses for $30k in improvements (Debating between aesthetic and functional improvements). For example should I make the place look pretty or spend a chunk of money preventing moisture in the crawlspace? My goal is to buy and hold and pull equity out of it at a later date.

So my questions is, what are your 3 favorite improvements that boost the value of your property?

Thanks!

REI in Clarksville, TN

@Patrick Menefee

In places where I’ve lived, including Tennessee, Alabama, and Georgia the 1% rule is fairly easy to hit. It’s a trade off for appreciation in many cases though!

What is the best way to leverage home equity? Specifically for the purpose of purchasing other properties (down payment, cash purchase, etc.)

HELOC?

Home equity loan?

Cash out refinance?

Something else?

-Investor from Clarksville, TN

How much does it typically cost to do a cash out refinance?

Besides a seasoning period, what are some other requirements that I should expect?

I am trying to run some numbers here and see if the cost of a cash out refinance is worth the benefit. Please help!

-Investor from Clarksville, TN

@Eric L.

Thanks Eric! I’m just trying to be real cost effective here!

Just got a triplex (all 2/1’s) and I want to do some small rehab work to get it rent ready. I’m looking for some recommendations for the rehab.

The walls need to be painted, I figure that’s an easy enough thing to do myself (although I’ve never tried it)

The floors appear to be a light colored hardwood but they seem to have been painted a dark brown. The paint is gone in several places . What’s the best way to make this flooring look new and fresh? Buff them? Repaint them? Throw some carpet down?

Besides that, the cabinets and counter seem a bit older and not very attractive. What’s the best way to make them look fresh and nice? Paint them? Replace countertops? Get new cabinets altogether?

Thanks!

John Paul Williams

REI, Clarksville, TN

Thanks Chris!

I have options of deductibles between $500 and $3000. The $3000 seems high but the premium is pretty dang low.

My question is, if I go with the $3000 deductible what kinds of expenses should I expect to pay out of pocket?

Are there even many claims that are less than $3000?

If I am going to file a claim for something isn’t it going to be for something much larger than $3000 anyways?

Thoughts?

Thanks!

John Paul Williams

REI in Clarksville, TN