All Forum Posts by: PJ Singh

It was another excellent FLIP site visit. Thanks to @Vijaianand Thirunageswaram  for arranging this and share his wisdom. Here are the few highlights:

1. FLIP House need extensive repair ( new roof, floor, foundation issues, exterior pool removal, concrete driveway, appliances etc ( roughly 40k-50k rehab). The house was in middle of rehab when we visited.
2. Uncover unknown issues (foundation issues): During purchase from wholesaler, it was disclosed that house has foundation issues and previous owner has repair it with life time warranty. However, during rehab process, after pulling carpet, it was realized  that foundation was not done correct. This has led to unexpected increased in rehab cost. Lesson learn: If time allows before purchase, get the foundation checked and keep unexpected cost budget in rehab.
3. Learned about cost structure for different part of rehab ( roof, foundation repir, pool repair or removal etc).
4. Focused on layout of house, what to replace vs repair etc.

Overall great exposure. Can't wait to see final product.

Congrats Tony ! goodluck with multi family. Keep us posted with ur progess

Vijai, I am interested in upcoming FLIP rehab site visit.

@Herbert MacDonald

Here is my 2 cents: I considered myself newbie and started attending these REIA meetup last year. I have attended few REIA with or without membership. Most of the REIA meetup start with 15- 30 minutes introduction to organizing group and some details for upcoming 3- day weekend REI course. Followed by discussion topic for each month and Q&A.

Typically these REIA meetup has REI vendors which you need in your REI journey. For the membership and RE course its worth it. You would learn a lot from these smart successful REI's. However,what I realized that some of these REIA meetup, you don't have enough time for networking (before or after intro/discussion topic). Goodluck with REI !

@Ken I am not sure how far you are into commercial RE learning curve. There are few podcast related to commercial RE. If you have not heard already, I would highly encourage to listen to those.  Great tips to find right area and you ll be able to get useful links through podcast show notes.

Great insight to Flooded Homes! Thanks Vijai, Travis & Chris. Last week, I went to REI meetup and discussed with one local title company. According to them, recently they have been closing rehabbed flooded home.

I am also in market to find my first BRRRR property. Not sure, if I should consider flooded property.

Excellent Job! I also has similar background like yours and patiently looking for my buy and hold property. Keep up the great work!

Thanks Max!

Thanks Dilpreet for your input. I can include that statement. 

What about minors ( my current tenant 1 yr old kid)? Do I include him in lease?

Thanks Matthew for your valuable input. No, I would not have rented him my house. However, It is very obvious that BF will stay with her all along. So if I exclude him from lease, then I probably have to overlook his stay at my rental house.

What about adding his name to use of premise section?