All Forum Posts by: Andrew Syrios

Welcome aboard Lynda and best of luck investing!

These are tough calls, we're dealing with such a case now. Probably $200k to fix and $350k to tear down and rebuild. Decisions like that suck. I think you would want to talk to a structural engineer and a GC who specializes in large projects.

Mistakes are part of the process. My brother even has a sign over his desk that reads "Make More Mistakes" as you're not growing if you aren't making mistakes. Try to recontextualize them as part of the process.

I wrote a longer piece on this very thing you may find helpful: https://www.biggerpockets.com/...

 Well it's not easy or quick, but it's definitely effective and this is the site to go to learn more. Welcome!

We’re looking for a contract with either a Johnson County license or a general contractor's license to obtain building permits and complete the rehab through rough-in inspections (which would include demo, framing, siding, electrical, plumbing and HVAC). This would require getting a structural analysis with a structural engineer beforehand. If they have a structural engineer they work with, that would be great, but we can find one if they don't.

If you know someone you could recommend, I would greatly appreciate it, thanks!

Yeah, real estate is the get rich slow business for sure. Welcome aboard Matthew!

Pretty much everyone is going to demand 20-25% down on an investment property. There are broadly speaking two ways around this, 

1) House hacking: Get a personal loan, live in the home for a year while fixing it up if need be, then buy anotehr home to move in and rent that one out. Owner occupied loans are often 95%, with FHA it's 96.5%.

2) BRRRR: Get a private loan (or partner) and get the property rehabbed and rented. Then when it has "seasoned" (usually 6 months to a year) and the bank will loan on appraised value, you refinance it. Of course, you will need to be all in for 75% or less of the property's value to get all your money out, but that way you won't have to bring much if anything to close it.

Welcome to BiggerPockets Devron and best of luck investing!

Well it's not going to cash flow in California and there's such an outflow of people from California with a lot of negative trends (homelessness, increased crime, collapsing commercial real estate, etc.) as well as already terrible affordability I would expect that even on the appreciation front, California is not the best place to invest, although there are areas that will fare worse so it depends on which state you are investing out-of-state in to compare to California. 

Welcome to BiggerPockets Beth and best of luck investing!