All Forum Posts by: Naveen Desai

Hello Jason,

Nice to hear about your experience. I initially started with flips and now I buy/hold and rent. Interestingly, my situation is like yours. I have properties in FL, CA, TX and OH. I generally have friends ( some realtor friends) and it is working OK. Only for my properties in TX, I have property management just because I have never seen those properties or been to the area. Thankfully working ok till now.

Surely would like to connect with you and exchange notes.

Regards,

N

Hi,

Thanks everyone for your tips and response.

part of my question is still open. What should be the order of work done.

Paint first or flooring first?

Or electrical and water first, followed by flooring and then paint?

Thanks,

N.

Hi,

I could not find the right category for my question and therefore landed it under buying/selling.

However, this is a property that I recently bought and now need to ready it up.

It was vacant for couple of months as I am told. Want to hold this property. Planning to get all the following done.

1. Floor replacement from carpet to wood in living /kitchen and replacing carpet in bedrooms.

2. Complete paint inside the house.

3. Kitchen small changes around kitchen. Remoing an extended area of cabinets and tidying it up and replace all appliances.

4. Check water/electricity and see if it requires any work.

My dilemma is which one to start on first and then follow up on next task?

If I give it out to One GC, what are the things I "should & must" include as part of agreement?

Advise/help appreciated.

Hi,

Have a contract in hand and closing ASAP. Looking for the best hard money options. I can do 10% down. Open to discuss.

Thanks,

Naveen.

Hi,

Just got a house done to be put up for rent. Need to get all the appliances, cooking range, refridgerator, dish washer, washer/dryer.

What are the best options?

The last I could go is to get HomeDepot 2 yr payment plan. Advise is helpful. Location- Cincinnati. OH.

Thanks in advance.

ND.

@Mike Wallace

I see that you got this in DEC. Just curious to see if you have rented it out now, for your expected rent price?

Feel free to inbox me.

Thanks,

Naveen.

Hi,

@BeBe Cheng: Are you sure you want to do a buy and hold in NorCal? I know there (*might*) be scope for appreciation, but still it looks since late last year, the prices have peaked up.

If you exactly know what you are doing --- please ignore my note here.

Since 2010, I have done about 14 flips in norCal, eastbay area and it worked well then. Since last year I have moved out of the region for investments. Thats my take.

Between- for everybody else who have contributed to this note, I would like to tell, none of what I know or learnt of basics of RE investments, works today in NorCal market. So it is not a surprise that when one tries to put the 1% rule or 50% rule on a NorCal property, it just does not sum up. I am re-learning the area. Ofcourse there is tons of statistical historic information. But the way the region is shaping up will be something new and to watch. Therefore my take on the region is "new approaches".

However what else is working for me in the region is court auction properties.

Thanks,

N/-.,

@James Wise

Thanks for that Info. I was looking for it too. Just closed one in Cincy. We still need to talk.

Thanks

N.

Hello Ben,

I was there over the weekend. Closed on a house and will hold and rent it out. Just curious what Interested you to Cincy?

Thanks,

Hi,

This is interesting to me. Just last year in 2013 myself and our group bought 2 properties in Plano, TX and both had foundation issues. Looks like it is known common issue in the region. We had to fix foundation for both properties and now have renters occupied & one property management company manages both properties for us. Reading the above note, tells me that we need someone to keep watch on properties and we have included in our rental lease agreement the renter will allow us to do a walkthrough once every 3 months. Likewise we have the same term included with PM company that they may have to do property walkthroughs once every 3 months.

I hope we dont have to call back the companies that did our foundation work, but looks like we need to keep watch.

I would like to know which PM company and what foundation fix company have used. I will send you a note @Jessica G. and like to exchange notes.

Thanks,

Naveen.