All Forum Posts by: Neal Bratton

Hey guys & gals,

I'm trying to find a good lender in the Johnson City, Tennessee area. This post is actually for my sister. She is a first time home buyer and needs to get with a solid lender that can sit down with her and explain all of the different options. If you guys have any suggestions, it would be greatly appreciated.

Thanks,

Neal

@Ryan Pemberton I am also looking for a property manager in Evansville. I have never used one before but I might need one if I relocate. If you are just looking for budget numbers. Half first months rent to find tenant. 10% Monthly Rent thereafter with a minimum of $50-75 per unit. I have talked to one so far that I'm considering going with. If you want there info send me a private message.

Neal 

@Chuck B. Thanks for your input. We will need a good daycare and schools. I prefer to be closer to stores/restaurants. We tend to like newer construction, but a little older with renovations done/potential would be fine as well.  

Neal

@Mya Toohey Thanks for reaching out. I do already have an agent I will be working with on this residence, but I will keep in touch as I plan to look at investment opportunities in the future.

Neal

Hey Everyone,

I will be relocating to the Louisville Area and was trying to get recommendations on areas to look at. We are a young family looking at 3-4 br for around $200-250K.  Love to get some input from some local members.

Thanks, 

@Frank B. 

I think your on the right track. I think listing out items and estimating repair/replacement cost is the only way to get a accurate estimate. I agree with you on the $ amount vs the % or rent. I would much rather figure off a dollar value for maintenance and CapEx. I also agree with @Greg Baker , take a snapshot of 1yr to 5yr capex and adjust your offer. If you know the roof and hvac both have 1-2yrs those expenses will come out of your pocket/reserves. I know a lot of buy/hold people analyze like they are holding forever, but goals change all the time so you might hold for a shorter time and not gain back all that cash from 20 yrs of rent.  

Congrats on getting started. Sounds like you guys have thought through the process and have a good plan. I'm sure you will do great.

@Ashton Astillero  Thanks for the input. I probably will go with a mix of your suggestions. Might keep carpet for bedrooms then mix of tile/vinyl/laminate.  

@Karen Margrave

@Karen Margrave  I have been pretty interested in the vinyl strips. I haven't ever had/used them but I think I might try them out they seem pretty durable.

@J Scott

@J Scott Thanks for the pricing info. I know you've done one or two of these :)

I will plan on $2-3 per sq ft. for budget numbers.

Hey Guys,

Trying to put some numbers together on a SFH. All floors need to be replace. House is 1700 sq. feet. Mostly carpet, some linoleum. Does anyone have a quick metric for estimating flooring cost. Looking for installed price. (not really a weekend warrior) I'm in the Midwest (southern Indiana). Planning on holding as a rental. Might upgrade a little on new floors to tenant proof. Any thoughts are appreciated. Thanks.

@Kyle Rushing 

Welcome to the site. There is a load of information on here. Like @Ned Carey said, the podcasts are great. Listen to them on the way to work, mowing the yard, etc. That said you could spend all day reading about investing and never make a dime. Just go out and talk to people in your area. Talk to some agents, banks, other investors, and get the ball rolling even if you don't have much cash. Start with people on the site. Set up your keyword alerts for "Seattle" and connect with real people in your area. If you need help with this check out

http://www.biggerpockets.com/renewsblog/2014/08/27/keyword-alerts-ultimate-guide/

Hope this helps. Good luck.