All Forum Posts by: Jasmine S.

Hey BP nation hope everyone is having a good night, I have a question for all you rehabbing gurus! What's the real truth behind the DIY project of laying a laminate floor? I've been told it's so easy, a weekend fixer upper project, yet my husband and I have  are complete novices and are getting some very mixed responses about what this really requires. Removing baseboards, and the use of a miter saw was not on the original plan though now it seems it should've been. We're in Charlotte NC so if anyone wants to recommend someone reasonably priced we would love to get a quote. 

Thanks guys!

Wow guys thanks so much! I should've known BP would come through with awesome advice. Sorry for the delay I was pretty busy over the holiday weekend but have been anxious to get back to your feedback. To clarify a bit someone ask what type of auction this is. I have already done all the investigative work I can and have learned that the house is going to auction settle a Medicaid lien against the house. After talking with Medicaid they are aware that the house is likely worth less than the actual money to be made at the auction and just clarifying that these are the steps the taken in these matters here in NC. We have talked about buying it outright before the auction my only concern there is does that absolve the executor of his responsibilities to the creditors? If so we would defiantly feel comfortable moving on the deal before the auction date. Anybody have any insight on how selling the house now affects the overall creditor obligations?

Hi BP family!
Firstly thanks to all of you for always providing such awesome feedback here on the forums you have truly been a wealth of knowledge to a self proclaimed "Newbie!"

Now then, on to the meat and potatoes of the thing. My great-grandmother passed away a few years ago leaving behind her estate to her children legally known as the "Wiley heirs" (Wiley was her last name). It now appears that the executor of her estate (my great uncle) has not be able appropriately managing the expenses left behind after her passing and her home will soon be sold off at an auction.

My mother (granddaughter of the deceased) is interested in purchasing the house at the auction knowing that she will likely be able secure the home for well under market value and may have a wonderful first flip opportunity with the purchase. I just want to make sure that legally my mother can indeed purchase the home at the auction in that she is a relative of the deceased and the property executor but is not one of the named heirs nor an heir to the current estate executor. We live in North Carolina by the way (not sure if the laws surrounding this sort of thing vary from state to state).

Thanks in advance for your feedback and if I haven't clearly presented the situation please let me know and I will do my very best to clarify.

Thanks for the feedback everyone.

Nicholas $1000 is right where I would like to be honestly and I just want to make sure I can get that price without alot of pushback or concessions on my part (such as including cable and internet). Any thoughts on how much is too much to invest in some upgrades. Right now I think we are looking at between $1500 and $2000.

Again thanks everyone!

Joe this looks amazing awesome work and I wish you a very profitable sale in the very near future!

Keep us posted and inspired!

Good morning BP family,
As I mentioned to some of you last week my introduction into REI will be with the renting of my current residence ideally before my husband and I move into our new property later this year (construction is expected to be complete by October). The rental is a condo I purchased about 6 years ago, 2/2, with about 1200 sqft.

The location is very close to a local university so I know a large part of my rental market will include college students (I'm not crazy about that but oh well) but there are also an appreciable amount of new construction apartment buildings going up in the area. To better compete my husband and I felt we should invest in a few cosmetic upgrades (vinyl plank flooring, replacing countertops, and appliances). I'm still a little nervous, though, that we won't be able to get top dollar in rent. The comps in the area have a huge range from $650 to $1300 but of course this based on the varying amenities these larger complexes can offer. Any tips on how to get the most bang for my buck? Should I market towards single families a bit more than the college crowd? How have some of you been able to get the exact rent you wanted if not more?

Thanks a million,
Jasmine

Hi everyone, my name is Jasmine and am brand new to real estate investing with my market being Charlotte NC. I have been a member of the site for a few weeks now and finally dediced to submit an introductory forum post. I am interested in low-income homes that I could potentially rent after rehabbing for a solid profit. I am lucky enough to be able to start off with a property I already own (my husband and I are moving but have decided to rent my first property) and try my hand at being a landlord without quite as much risk as purchasing another property soley for rental income. We have dediced to put spend the time and money on a few cosmetic upgrades (vinyl plank flooring, counter tops, and new appliances) but I feel really good about this seemingly smaller risk property I can learn a lot from.

Nonetheless I have appreciated all the post and insight I have already gained from this site and look forward to connecting with and learning from each of you as time passes. Best of luck to us all, and I can't wait to get started!