All Forum Posts by: Dan N.

That's a hot area of the state, good luck!

depending on the thickness of the finish ply, engineered hardwood can be sanded and refinished several times. Engineered hardwood is also quite durable, with the exception of some bamboos, it is the only hardwood that can be installed on concrete. It should also have an "all in" cost lower than solid hardwood. However, if you anticipate having the floors primary use as a toilet, I guess do vinyl. Really not sure how any floor will hold up under those conditions... maybe some type of commercial hospital flooring?

@JERMAINE LUCAS thanks Jermaine, you've put that stuff down right on plywood subfloor then? Do you set it with thinset or do you use their adhesive?

Just curious if anyone has used any of the membrane Products on the market as opposed to Backerboard or mud beds for tile floors. At a glance it looks like these products, such as Durock, would enable a much quicker installation and save a fair amount in labor costs. I also saw a brand with a peel and stick application that looks like it would be even faster. Thoughts?

Docs can normally get mortgages with little or no money down based purely on future earnings, even with 300k debt. They are the only field that i am aware of that have this opportunity. That said i would definitely make sure your planning on doing your fellowship in the same area before you jump in head first, otherwise your probably not going to have enough time in the home to build any equity. In fact, between closing costs and commissions(x2) it could easily cost you more than renting. I don't think i multiunit building is a great idea at this point, you'll have enough to worry about for the next few years not to have that over your head.

You asked for experienced rehabbers, but i'm going to throw in my thoughts anyways. I think the exterior needs a good pressure washing and general cleanup. I'd probably deck restore the slab in the back and redo the landscaping so its not encroaching on the windows and looks fresher. Fix those ugly pipes and misc. junk wire ran on the outside of the house, at least make it look like it was done well. Rip out that dish, or at least run the wires correctly. As far as the interior goes i think that shower may be salvageable, but the ugly countertops and cabinets in the bath definately need rectified, same goes for the kitchen. Is that an island? not sure if its on wheels or something but i'd probably just put a breakfast bar along that side of the room, assuming that wouldn't encroachment on the living area. The tile in the kitchen looks like it could maybe work? not sure though, hard to say from the pics. Along with that the normal paint and flooring. i'd also paint the garage floor personally.

If i were to go the HELOC route, do i need to get the money into my account months before closing for 'seasoning'? I didn't think so, but something i just read in another thread has me wondering.

@Chris Haas

@Chris Haas What i was considering as a possible option was withdrawing money from her IRA since she would be a first time home buyer and would be able to withdraw (i think) without penalty. For that to work the mortgage would have to be entirely in her name. I think her income would probably be sufficient to qualify, however i have the impression from these forums that banks don't want to fund flips with a standard mortgage.

I was just up in Reading over the weekend, a good friend of mine is doing his residency at the hospital. Almost got married at Stokesay Castle up on the mountain. Good luck finding opportunities up there.

the advantage with this device is it can be buried behind the drywall. In a lot of locations blank junction boxes can be unattractive.

Thanks David, another good point. I will talk to the bank about the HELOC first.