All Forum Posts by: Luka Milicevic

Then again, you could do what most Non-Bigger Pockets people would do:

Buy a boat, a car, and a new Harley

Difficult to say with this amount of info, but I would buy a multi fam and live in one of the units and rent the other. I would finance it and not use all cash.

From there I would use the rest to acquire buy and holds using a down payment from your proceeds and financing the rest.

I can't say anything about the commercial side, but residential is extremely hot at the moment. I'm assuming commercial is not too far behind.

If you have debt on your primary, I would get a HELOC all in one. Park the money in your HELOC until you're ready to use it again.

That way your cash is a productive asset as it goes towards lowering your outstanding balance.

I think the flooring costs are on the low end. As things stand 1200sqft for $1200 is $1/sqft. One of the cheaper laminate wood looking floors I have found was $0.79/sq ft plus 9.25% tax=$0.87. I would budget more along the lines of $2-$2.5 plus tax. 

Tile I would also budget the same $2-2.5 plus tax.

Just for the flooring itself. This doesn't include the underlayment/tile mortar. I think for those two you budgeted adequately.

I'd probably add a bit to the shower/bath remodel. $1400 seems low for 2 bathrooms.

Brandon Turner did say on a few occasions: once you have your budget set, go ahead and double it because that's what it's going to be. There are somehow always surprises!!!

House hacking is the easiest way to get started, as the two Gregs above have pointed out! Get a duplex, live in one side and rent the other side. 

I think that would be the easiest way to at least get started.

Generally, I don't talk to the owner or agent. They will tell you what you want to hear in order for them to sell you the property. Your own due diligence/inspection is what is going to give you the answers.

Everything an agent has ever told me was an outstretched version of a "sort of" truth.

It makes sense that cash offers are the only ones accepted. I had a similar situation where a lender wouldn't allow me to purchase a home because the foundation wasn't a "standard" foundation.

Do what J Scott recommends-Go to lowes/HD when they open and meet the contractors at 6am. Those are the ones that are serious.

It sounds like you're just in a hot market. I'm in the same boat in my market. I get out bid with all cash offers offering more than list price all the time. It's annoying but it's just the way it works in hot markets. Try direct mail and see if you can get leads that way. Keep putting in offers. You might need to make 100 before one gets accepted, and there is nothing wrong with that!!!