All Forum Posts by: Leo Lanza

They have vents that will mount flush with the countertops. Basically, it will suck the air in as it starts to float upwards. 

You should be making a list of 5-10 things you can do everyday to reaching your goals! The key here is they MUST be actionable steps to getting closer to your end goal. It's great to have an end goal but it's so much more important to have daily actionable goals to achieving your big goals! 

I'm a flipper in DFW, Tx. 

The smell shouldn't be a problem so long as the drywall is solid and not rotting. The primer will take care of the smell smoke, pets etc.  As far as it being bumpy; are you talking about the texture on the wall or are there large swollen areas on the wall so that the wall is not smooth? If it's just texture; then your sheetrock guy should be able to float the texture. If it's swollen areas of the sheetrock it should be replaced. 

Hope this helps. I'm a rehabber & contractor. 

Well, I think most people fail because they don't understand flipping to start. Every wholesaler should have an understanding of rehab costs and the profit there buyer will make. Newbie wholesalers often pull numbers out of a hat and call it a deal! If you want to be really successful and have repeat business study flipping so that you know your end buyer will be making a profit. They choose this path because they think it's easy! It's not easy wholesaling properties. 

Flip Investment property in Oak Cliff, Dallas or a potential rental property. This is a very charming and good-sized 5/2 2304 sqft house with an oversized front porch right in the heart of Oak Cliff, where comps are being sold for up to $200/sqft! This house was actually recently remodeled--newer roof, H2O, HVAC, flooring, paint, kitchen, baths, etc. and he rented it out for a bit. However, he would like to acquire some more projects, so is selling this one as-is. I would replace the flooring, and rework the floor plan, combining two rooms into a large master suite and relocating the kitchen directly below where it currently sits on the 2nd floor. Apart from floor plan alterations, there isn't much to do to this place as it is already in great shape--having the foundation checked out just in case, but I don't think it will need much if any work. Call Leo 817-507-9497

3/2/2 and 1977sqft. Richardson ISD! Nice little quaint subdivision! Not a lot of comps due to its small size subdivision (only 4 streets) House has a newer roof, a/c and windows. , This house is in great shape. May be some slight foundation, but very minor. I budgeted $2k just in case. Electric is completely fine but it has a Federal Pacific panel. Your choice on to replace it. I budgeted $1.8k. Partial updating to the house already been done. Has stainless steel apps already in the kitchen. You will just need some basic cosmetic updates to finish it out. The house also boasts an oversized laundry room, which is nice. Full rehab breakdown in the packet with notes.

Call Leo 817-507-9497

When I see rent starting to hit $1600+ I like to add stainless appliances. It's fairly inexpensive. I recently added stainless for $1400 to a kitchen. It will really make it stand out from other rentals and more quality renter will want the property. I wouldn't do mix matching a) it makes the rental look cheap b) Range is a focal point in the kitchen so if it does look good it will stand out. 

@Dethorn Graham Welcome to the community! If you have any questions I love helping new investors!

Look for small local banks in your area. When you call them, don't ask if they are a portfolio lender, most loan officers won't know what that means, instead, ask if they lend out their own money or if they lend other peoples money or are they regulated by Fannie Mae / Freddie Mac guidelines. 

Typically, they will have a board that your loans must go before to get approval and they will want to see some track record or experience. 

Tell me your goals what you're trying to do and I will point you in the right direction. 

I'm in Texas and recently went through the same situation. The lender won't care so long as the loan is paid off. I suggest filing the quit claim deed with the county clerk asap. Also, you might run into problems with title companies not wanting to honor the quit claim. I had this problem so I just didn't tell the title company about the quit claim and it slipped through. This is just my experience in Texas not giving legal advice.