All Forum Posts by: Andrew Syrios
Andrew Syrios has started 74 posts and replied 10135 times.
Post: Almost a Newbie
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BiggerPockets Ted and good luck investing!
Post: New member from El Paso, Texas
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Originally posted by @Jaime Barragan:
Hi @Alfonso Pruneda (Fonzie)
Welcome to BP!!!
I live in El Paso, and I studied a Master Degree in EE at UTEP (Go Miners!!). I am from Chihuahua, Mexico.
I will recommend you to read as much as possible and to listen to many podcasts , including @Andrew Syrios' podcast (BP 121).
Also, to learn about local trends and opportunities, I recommend you to join a local REI group; I heard that the one in Las Cruces is pretty good.
Finally, Far from a big success in REI, I am learning by doing and I am very willing to share my experiences. Let me know if you want to meet for lunch a talk about REI some day.
Good luck,
Jaime
I appreciate the shout out Jamie, thanks!
Post: Kitchen Improvements?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Originally posted by @James W.:
Originally posted by @Andrew Syrios:
It depends a lot on whether you want to flip or rent. If it's just a rental (depending on the area of course) I usually just replace the countertops with formica and the appliances if need be. I try to save the cabinets. Paint and new pulls helps a lot. Usually I will vinyl the floors.
If it's a flip, I would probably put in a granite countertop, stainless steel appliances, tile the floor and get new cabinets (unless what's there is really good, of course.
Makes sense.
Any idea what would new countertop and new cabinet installation costs - lets say medium grade - for a 175-200sf kitchen.
By medium grade, I'm assuming you mean a formica countertop. And the metric you would use is linear feet of counters. An eight foot formica counter from Home Depot or Lowes costs about $125 and probably about that to install (assuming it's a piece you need to cut a hole in for the sink) would be similar.
Post: When is it time to Diversify?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
I've thought about this too and it's tough because while we call it real estate investing it's a career too. It's what you do for a living so that's where your expertise and most of your money will be. But of course, that leaves you vulnerable to market fluctuations. The way we approach it is to try to keep strong reserves that are in diversified assets (mostly money market accounts and index funds, but also possibly going forward in some hedges against real estate and the US economy for additional security). Since it's small comparatively speaking, it acts more as a rainy day account than a diversified portfolio. But if there is another market crash, it will be extremely useful to have.
Post: New member from El Paso, Texas
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BiggerPockets Alfonso and good luck investing!
Post: Kitchen Improvements?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
It depends a lot on whether you want to flip or rent. If it's just a rental (depending on the area of course) I usually just replace the countertops with formica and the appliances if need be. I try to save the cabinets. Paint and new pulls helps a lot. Usually I will vinyl the floors.
If it's a flip, I would probably put in a granite countertop, stainless steel appliances, tile the floor and get new cabinets (unless what's there is really good, of course.
Post: Polling on "Due on Sale" being enforced after transfer to LLC
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
I've heard of loans being called when a subject to is done, although seems fairly rare. I've never heard of it done simply by transferring ownership to an LLC. One bank lender even told me it was perfectly fine and they didn't care. So my vote would be it's probably OK. Although of course, there's always a risk.
Post: New Member Vancouver Canada
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BP and best of luck investing!
Post: Take an Investor Survey
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Done and done. Keep up the good work!
Post: New Member of BP looking to connect with Investors in Seattle!
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BiggerPockets Brian and good luck investing!