All Forum Posts by: Account Closed

Hello-

In all honesty, that looks like a pretty nice backyard, and I'm not sure why you feel the need to spice it up, but regardless building a deck could be a solid idea. It would cut down a little bit on your mowing, if you're even a little bit handy you could build it yourself with some reclaimed wood, and if you make it small/low-to-the-ground, you might not even need a building permit. Plus your tenants will enjoy it and it might add some resale value to the house. 

I would recommend lvt (luxury vinyl tile) a newer product that is more durable than vinyl and comes in all sorts of patterns and sizes. (Wood look or other)

The company I work for uses it for schools and other public places with great success, but you could totally use it for a residential situation as well. 

All the big flooring companies should have a selection. 

@Max Ellis

With the experience you have you should have an idea of what you know but more importantly what you don't know, which in flips may be even more important because it's the surprises that burn you. I happen to live in the north suburbs, and there's probably a ton of good properties you could flip around Zion or Lake Zurich. Huntley has been coming on strong in recent years, and has had solid population growth especially with families in the last few years as well. You should look around and just see as many houses as possible, get a feel for the market, and just go from there. I'd go for a flip, but the BRRR strategy could also work well in your case.

you would be a two-hundred-thousandaire!

;)

I'm looking to get my first property in Philly, specifically a buy/hold or BRRR type deal, hopefully with a partner, and I'm curious as to Gray's Ferry/Point Breeze. I see a lot of you above are pretty positive, but how has it been going with tenants? Furthermore, are there a lot of foreclosures/short-sales for a cash-poor but hustle-rich investor to get started?

@Sal Marone What markets are you looking at currently? (I'm also based in NJ)

@Robere Istatia I'm just getting started myself and I'd love to be in touch to see what you're thinking. I'm in a different market than you, but I'd love to talk general strategy-type things, especially since I'm a similar age (22), though I'm looking to do more buy/hold type deals. 

Shoot me a message if you every want to talk!

@Malcolm Darensbourg. I'm pretty risk-averse, so I'm looking to house-hack my first deal. I guess the goal of any investor is to find your "value-add", and mine would definitely be on the construction side of things, so I'd love to find a SFH that could be turned into a two/three unit, especially since I know how to go through all the code/bidding/dealing with contractors/construction side of things. I'm starting grad school in a couple months, and I'm looking to save up some money so that I can find something run-down but with solid upside, and fix it up while I live there during the summer internship period and then rent it out after I move back to college.

Hello-

The bank may/may-not care w/re to the porch/garage door, but the city/county sure as well might. It wouldn't take much for some do-gooder to notice your construction/rehab, and next thing you know you find yourself with a work-stoppage order and perhaps a hefty fine to go along with it. 

http://www.kissimmee.org/index.aspx?page=402

Looks like what you need is an "interior/exterior alteration permit". Shouldn't be too much work to get the proper permits and get on with it. 

Good luck!

Architecture student here- with regards to the question of the "underlying condition" issue, remember that if you simply refinish a porch/stoop, and there are issues of the foundation structure, the refinished material may crack immediately. 

This below:

(http://www.completebasementsystems.net/concrete-li...)

Indicates a foundation issue. (No footings/insufficient depth/freeze-thaw heaving) You might be better off simply removing the concrete and rebuilding the porch out of wood.