All Forum Posts by: Minna Reid

I did price the work hiring it all out, but will probably be doing some myself. The rest will be between my bf (who's a contractor) and his buddy. I will certainly save some money that way, but I think pricing the deal without considering the cost of hiring all the work out is a mistake. And after all, your time is money too.

I suppose I'm also getting stressed as my company has been bought out twice in the last month and some goings on as of late lead me to believe that I may be unemployed one way or another pretty soon anyway. I'd rather not be at their mercy - you know? So no time like the present to line up whatever else I can. I have thought about the apt building actually as every once in awhile I see one that I think would probably cash flow very well, but I'm under the impression I'd need some hefty cash down on anything over 4 family unit as it would be a commercial loan. I'm not THAT well funded yet. Plus if I spend all my cash on a down payment, where do I get more? Rehabbbing at least gives me the potential for large short term return on my money.

I think youd still be better off selling at a small loss now, rather than having negative cash flow for years, and trying to manage long distance renters. Far as the new place, IMHO I would still rather buy than rent for the next two years, especially if your mtg would cost the same as rent. But I wouldnt be looking for a property to rent two years later, if your plan is to move far away again. Id focus on finding a home that for whatever reason will get you some profit when you sell it two years from now to move away. Provided your there for at least two years you wont even be taxed on the gains from the sale.

Hey - get used to hearing no!...or no response at all. Its the art of any good salesperson - no fear of rejection. Don't take it personally. If you need to hear 50 no's to get one yes then just get used to it. If you don't make those BS offers without being scared of the response, you'll never make enough of them to reach the yes.

I'll tell you what - It seems strange to me that your house would be on the market for a year. Perhaps the price isn't right?
Having been in a similar situation where I didnt know what to do with my last residence after buying a new one, it seems renting isn't a bad idea. I did do that. I just break even-and IT IS NOT WORH IT! Renting is not the sweet deal you expect. If I had it to do over, I would have just sold even though I didnt have a lot of equity. Not because renting is a headache (which IT IS), but because if there is no cash flow, it is not worth that headache. As soon as I can get rid of my renters I will, and I will sell, even at a huge discount. The next rental I buy, WILL CASH FLOW. Otherwise, it's just not worth it.

Ok so we all thought about REI way too long before taking action right? So I'm in action...but actual action is a full time job in itself..lol..that was a fact I should have anticipated, right? Anyway, I'm real busy with my ventures, and meanwhile I have a day job (granted its a work from home on my own schedule - sweet gig) but it's been getting brushed further and further under the rug cause I'm just too busy to give it my all. Its only a matter of time before that gives. If they dont do it, I have to, because I just dont have the time anymore. So thats the last shred of security I have left here - but it came with 70k, bennies.....Once thats gone - I'm on my own- Just me, my two kids, 5k bills/month, and my passion for real estate to bring it all together. How's that for pressure, eh? I sure hope I'm doing the right thing. lol...maybe this belonged in the "psychology" section....

Didn't count on so many opinions....Well the dishwasher was kind of a concern...I dont care too much about later, because I'm selling it right away. Dark grout though -YES!! I just tiled my bath and used a light grout, big mistake it always looks dirty. Anyway - since I'm not living there, the consensus seems to be to tile after, just to save the couple bucks in tile. And leave a couple tiles for the buyer!

ughhh...thsnks..yeah i makes sense to tile after. It just would have been so easy in a nice rectangle room as opposed to cutting around the cabinets, but yeah youall're right...

But if I am an LLC this would be the way to go?

After I gut and paint, but before I bring the new kitchen cabinets in? Right? Seems the logical easy way to do it, or is there a reason to tile after the cabines are in?