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All Forum Posts by: Account Closed

Account Closed has started 31 posts and replied 197 times.

Post: Potential first MFH purchase

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

Congrats man!! happy for you. 

Post: Finally making my introduction

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

hi chris

i spent all my school years in Bellevue actually... go Thunderbirds!

Post: Plunging Oil Price Fear

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

@Brandon Cravens  $100 oil and im done with real estate! but i donno if that will happen  in the next 2 years. 

I think $70's and maybe $80 is reasonable for oil in 2015.... and I cant wait! take a step back and ask ourselves, would we bet that gas will NOT go back up to $3/gallon? I know I wouldnt take that bet, however I more then gladly take the bet that it will..... so thats what im doing via the market :)

Post: How To Get Out of Real Estate...?!

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

@Ben Leybovich 

 I personally think oil is a crazy win/win buy right now and probably will be for the 1st quarter of 2015 although who knows if it will stay this low or go lower. we all use oil/fuel so if its cheap then we are benefiting by lower cost for our consumption, if the costs go up then we win by being long in oil, win/win! I bought in at $60 via oil ETFs (not a fan of  futures personally), hopefully it stays low or goes lower in the next 2 months when I have more liquid funds to continue phasing in long positions. 

This reminds me of 2009 when the DOW was around 7,000 and I thought to myself will I ever see it this cheap again, I was kicking myself for standing on the sidelines in retrospect from something so obvious. I think its similar with oil, do you recall the last time you saw oil trading in the $50's? there will be some crap that happens in the middle east unfortunately and then we will be back to paying out the butt at the gas pump again....

Gas is under $2/gallon in some places, amazing.

Post: Best Flooring? - if you plan to allow pets

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

@Roy N. how about uneven floor situations? my floor is fairly uniform, im gonna have to patch some of the subfloor so its not going to completely perfectly flat. is there any underlayment that is recommended?

Post: Best Flooring? - if you plan to allow pets

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

 Thanks everyone, ya I read allot of the previous posts and it seems like the Vinyl planks are as close as a gold standard as it gets.... was hoping to get an answer with something truly close to indestructible by tenants and dogs, other then concrete :)

Post: Best Flooring? - if you plan to allow pets

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

also, I would be willing to redo ALL areas and not refinish the hardwoods in the living/dining room and haulway. if there is something out there that is truelly great(bulletproof/petproof) that looks halfway decent.... planning to keep the house till im long an gone so impact to resale value isnt a big concern. 

Post: Best Flooring? - if you plan to allow pets

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85

is there flooring for bedrooms that is perfect for pets in chilly Nebraska???

rehabing my 1st SFR, nearing the flooring portion of work. there is thin(1/2" or maybe a bit less?) and narrow hardwood throughout the 114 yr old house which seems to be original. too many areas to patch in the bedrooms(would have to find this unique type of hardwood and a good amount of it) so im originally planning to carpet bedrooms and attempt to refinish the hardwood in all other areas (pretty confident i can bring it back to life).

im second guessing this plan though, in this area its not realistic to completely say no pets so i might as well plan on it. 

based on reading the many past posts, carpet is cause of all things evil/devil anywhere in a rental?

so whats my options? i dont want to do fake hard wood in bedrooms and real hardwood in the living room. tile isnt realistic in bedrooms in Nebraska. Not in the mood to rip out all of it and put in 3/4" hardwood, i wanna get it wrapped up and onto the next SFR property/project.

Post: How can I get my second rental property?

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85
Originally posted by @Arlan Potter:

Commercial banks loan on deals. Have a history to show the banks and get the loan. I think my DTI was around 10-12. And in a couple weeks we are getting bank financing to purchase 32 units. Some seller financing. My DTI will be 20 or more. A deal will sell itself if you have a history.

sorry for my ignorance in advance, 

what is DTI?

Post: How much do you have to spend to buy a rental property in your area?

Account ClosedPosted
  • Omaha, NE
  • Posts 201
  • Votes 85
Originally posted by @Brie Schmidt:

On the Northside of Chicago for rehabbed I think $400k is the minimum if you want a clean safe place.  $300k if you want to do a light rehab (kitchens/baths/paint)

 Hi Brie, what do you typically see for rent's with those prices? also typical size plz? 

boy, didnt know real estate was so pricey over there