All Forum Posts by: Mike Reynolds

@Mike Wood If you don't mind, what are the cost per piling in NOLA? I am thinking about a property in Galveston county on the peninsula. I was told there its around a thousand a piling. Maybe a bit less. I haven't actually priced them yet from a sub. A thousand sounded high to me as that might make the foundation 30-40k.

@Patti Royster It is my understanding that you can get a loan from a solo 401k up to half of its amount or up to a 50k maximum. Not sure about the legalities of being a landlord with properties bought within your 401k. It may be prohibited. Not sure though.  

@Dawn Brenengen is about right for ballpark figures but I have to agree with @Account Closed. It just depends on the house, neighborhood and/or the client. I once quoted 175k for mesquite cabinets in a 20x20 gunroom. He was rich but he wasn't crazy. We went with Beech and dark stain. That being said there are so many different upgrades or ways to make it look top of the line for less. My advice would be to get a good contractor for your kitchens and baths.

@Candace Cooper

If you joined as a promo like I did contact the one doing the promo. In my case it was Brandon Turner. He linked me right up no problem.

Welcome to Pro by the way.

 I has to quote you because my @ feature doesn't work on my phone. If you need to connect with subs down there (down from me anyway) let me know. Try looking down Post Rd. for some deals. Older houses that are in good shape and b neighborhoods. A short mile west in Gruene lots are 400k on the river. Downtown in also good but you will need the proverbial bigger pocket and rents are somewhat seasonal but with it. 

If your looking for quick turn over on a cash out drive ten minutes north (traffic permitting) to New Braunfels. Creekside is booming. Rents upwards of 2k for an apartment. As soon as a house is built it's rented. There are areas opposite side of home depot that you could do buy reasonable. My ex boss/mega REI is spending a ton there and the rumor is that an Australian company applied for a multi year multi billion dollar permit.

Aside from rumor, every time he sent me there to work for him i had to rent a different house. He quit letting us use his condos because he rents then at a premium. The last time he tried to get a two year lease and was turned down because rents are going up that much yearly. His forte is mostly commercial and industrial. 

 Agree totally. I'm not even sure I would ever get to the point of having property that was more than a six hour drive away. I micro manage too much but I am trying to get better. 

But having to pay a tenant 4k just to move them out is really crazy in my book. I realize there are two sides to every story but it looks like Mass only wants to hear one side if that is the law Everytime. I'm just glad Mass is more than six hours away from me.

Wow, that's crazy. It seems like it pays to get evicted in Mass. Is there any recourse against that for the landlord at all?

Well in my case I prefer to buy one that needs work. The more the better. I have been doing it all my life though. You may just have to decide what's best for you. If the numbers work then why not?

So if I take out a loan against a solo 401k it would work much the same way. And still have a five year payback.