All Forum Posts by: Layne T.

If you can handle illiquidity, multifamily syndications.

@Maribel Canino Another important question is condition of property - does it need any significant repairs? If you have it free and clear and are in a good market, I would keep it but you would need a great property manager especially if you are new to this. What market are you in?

@Will Barnard @Jared Hottle

A little more insight - 

This is for a buy and hold, not a flip.

Current electrical/plumbing is 25 years old or so (along with all fixtures, etc.). The decision right now is either leave it (if it ain't broke, don't fix it), or redo with either option A or B above assuming a refi can recapture the $$ spent.

Thanks

Curious what people are seeing these days in terms of dollar for dollar return on
a-renovating kitchens and bathrooms
b-renovating kitchens and bathrooms and also all electrical/plumbing

Have you found that you raise the ARV $1 for $1 spent on above? Little less?

Thanks

@Christy Brinkruff - until you have a great contractor on lock (or two great contractors who can take turns on projets), I'd stay away from flipping. Too many pitfalls. 

https://www.indianapmg.com

@Jeffrey Hester / @Rabeeya Khan - call them, tell them I referred you. Couldn't be happier. 

What's a fair price these days for some basic rehabbing - not a full gut (roof/flooring is fine), but just:
- Removing all existing drywall
- Replacing all electrical
- Replacing all plumbing
- New drywall

Basic 3/2 1200 sf, one floor. Indianapolis -

What do you think? Looking to do it next year or so for a rental and wondering what to budget.

Thanks for any input!

What's a fair price these days for some basic rehabbing - not a full gut (roof/flooring is fine), but just:
- Removing all existing drywall
- Replacing all electrical
- Replacing all plumbing
- New drywall

Basic 3/2 1200 sf, one floor. Indianapolis - 

What do you think?  Looking to do it next year or so for a rental and wondering what to budget. 

Thanks for any input!

@Megan Nunnery Awesome of you to get started on this early. Be patient - you're far ahead of most by even thinking about real estate investing. It's a slow path. Don't give up. 

Pros - 
-Coastal real estate will always be in solid demand, both from local/national/international buyers so prices won't go down much even during recessions
-Perfect weather by the coasts
-With inflation expensive properties appreciate more - there will be long term inflation - properties will appreciate

Cons -
-Yes, in larger cities, most always talk to their peers about leaving
-In larger cities, homelessness/crime/poor roads/schools etc. do make people wonder why they live here
-In smaller cities, there are a lack of work opportunities making one wonder why they live here
-State income taxes are out of control
-The state is poorly run so it will degrade over time not do better (i.e. Illinois)
-As a landlord, the laws are not friendly

Where does it go? Middle class will be squeezed out, it will be a split between high-income and low-income over time unless there's drastic policy change (which many don't see happening).