All Forum Posts by: Lindsay Wilcox

How steep is the learning curve and cost for renting a sander and going for it? If the room/house is small enough, could I do it with a hand power sander?

I'm buying a house that was originally a single-family, but has been converted to 3 small 1-bd apartments. There are no houses like that in a 15 mile radius, much less in the neighborhood.

What do I compare it to? I'm especially curious what the appraiser will ise for comps!

I'm buying a house that has hardwood floors, but they're stained and need to be cleaned up. We're not looking at more than 600 sqft total. I've read about chemical solvents for cleaning and also full-blown sander rental.

Who's done this before? Which would you recommend?

I'm especially interested in stories from people who have done this, but theoretical feedback works too!

Aaron--homeless like "sleeping somewhere new every night," or homeless like "have a stable residence under an overpass when shelters don't work out"?

Mark, what are some of the things you want to do? I'm not sure I could spend $1M/yr if I tried!

Seems like most posts on here are about the "How" of real estate investing, but not as much about the "Why."

So why do you invest? Is it just to have more and more income? Is it to reach a certain amount of cash flow so you can afford to do something else? Is it just plain too much fun to stop? Has your reason changed over time?

I got a quote for my homeowner's insurance on a triplex from a friend who works for a major insurance company. As I was telling him about the property, he asked if I needed a tenant too.

Are there legal problems with having a tenant also be my insurance agent? My gut reaction is that there should be, but he didn't think there would be.

House was originally a SF, but was remodelled into a quad with three 1-bd apts on main floor and 2-bd in basement. Basement unit was decommissioned when egress window laws passed and is now a mostly unfinished basement. Home also has large attic.

How would you decide whether refinishing the basement and adding an egress window and/or finishing the attic into an efficiency or 1-bd would be worth it? Is there anything else to consider, like zoning laws, that would prevent turning a triplex into 4 or 5 units?

My strategy right now, as a single person starting investing, is to purchase a multi-family home and live in one of the units and rent the other. That way I'm not paying for a roof over my own head separately. That was important to me because, like you, cash flow is pretty tight. I know Brandon and other staff bloggers have recommended that strategy too. Plus, if my life situation changes, I can move somewhere else and rent out my unit in the MF home!