All Forum Posts by: Minna Reid

Well I don't have a dayjob, so between my boyfriend, his cousin and I we've done everything ourselves, minus a few things I hired out for. In your shoes though I would definately be on site probably every day, or at least most, unless somehow you just happened to find the most timely, trusthworthy, selfmotivated, self directed contractors in the world.
The only longer term contractor I've outsourced for this one is a plumber, and I'm on my third. Good help is hard to find.

Anywhere near the water really, you know in CT, maybe even RI. Oddly enough today I happened to take a new route and ran right into a little gorgeous lakefront community, with guess what - one ugly boarded up house. Gotta at least check it out.

Hey it's midnight in CT - I just got home from another long day on site....This thing will be done by the first, at least interior in showshape. Random landscaping can be done while it shows, it ain't much. I can't wait to take pics of the finished product. Got the befores - gotta look at em every once in awhile just to assure myself YES I have gotten far...lol

Good for you! Just make sure your numbers are right! Including comps and repair costs. They really have to be on point. At your estimates it sounds just a little tight. Don't pay over 70%ARV - repairs, especially on your first deal. Play it safe.

I grew up in a country with national health care. The country has some of the best medical technology in the world, the care was always excellent, and there are no problems with extended wait times or the such. The citizens are also some of the healthiest people in the world.
The cost of national health care is higher income taxes. Depending on income, its between 0 and 33%. But higher education is also free, and the social service programs the government offers its citizens are incredible. Plus I'd rather pay a little more to make sure that should I need it, I can get medical attention. I dont have insurance now, and its a scary thought. At least I can still jump on a plane and go back, should I have an absolute need for serious medical help.

I used colorado federal savings (they're out of TX..lol) for my last. Granted the place was livable, so I didnt have to go hard money. I just put it in as an investment prop. I got a 100%, stated doc, non owner occupied, no prepay...PM me if you want my guys name -he is great, can make almost anything happen - if- you have good credit.
But this is a bank - they are not funding the rehab portion or anything, just the purchase.

Well the house has some great things going for it besides what's visual, but it also a few minors that may detract a little. My FSBO price is a great deal - it's an even better deal on the MLS, but then I pay the realtor. But either way its way below market. That's fine. I dont want to get greedy here. I just want a healthy profit and to walk away quickly. I could price it higher, but the market in this particular town is slower and I don't want to sit on the house.

Got my first call on my FSBO sign yesterday. Her first question is "How much is it?"...ummm...hmmm..Whoa - I guess I'm stumped. While I was flying by the seat of my pants, I forgot a rather important detail.
So here's the deal. There 6 houses, almost exactly like mine, listed on the MLS, for sale in town. Prices at 259 - 289, with an average of 273K.
Everything in mine is new and top of the line. My thought is to price at 255. Too high? Too low? Just right?
I may like to raise this i cant fsbo, and have to call a realtor.

Oh one more thing - this floor currently has some very old thin 9x9 vinyl tile. I suspect it probably has some asbestos so I'm not gonna mess with it. From my understanding I can go directly over this with a latex modified mortar and set the tile right on top...The floor is sound and level. Is this correct? Or do I have to put down backerboard?

that I should just set up an llc right now, and quick claim my rehab to the company prior to selling it. Does this pose any problem, such as -
Will it threaten my exisiting financing?
Will my prospective bueyrs have harder time getting a mortgage because the house is being sold by an llc?
Does seasoning start all over or something like that?