All Forum Posts by: Bobby English

We are flipping a house and trying to decide whether to put in a gas or electric stove. Do either provide a better return or selling point?

Thanks!

@Brian Ploszay thank you!

@Kenneth Garrett thank you!

Hi!

My partner and I are flipping a 3 bedroom 925 sq ft house. We keep going back and forth on whether to leave the 3rd bedroom as is, or divide it up to be a half bath on one side and a first floor laundry room on the other (rather than in the basement). I know I’ve always read that a third bedroom is worth more. Just looking for more experienced opinions! We’ve had a few realtors tell us a first floor laundry is a great idea. (but at the expense of losing a 3rd bedroom?)

Thanks!

Bobby

Hi!

I am in the process of ordering a sign for a newly purchased property. I’d like to have a sign in the yard while we do the renovations, but I’m not sure about how much info to include on it. I think I remember reading not to put contact info on the sign. To me it’s more about having a presence and associating my company with the good work we do. Any thoughts?

Thanks in advance!

Bobby

Hi!

I am closing on a house on Monday. Does anyone have tips for what to do first outside of changing locks and having insurance?

Thanks!

Bobby

I’m from a small town and have found a foreclosure house going to auction with a starting bid of $17k. Comps I’ve pulled are saying it should be worth around $96k. I’m expecting it to sell for around $50k in the auction.

My intention was to pull out what I’ve put into it by refinancing and then using a heloc to capitalize on the equity left in so that it cash flows with the lower mortgage of the refinance and I don’t need to pull all the cash out to keep investing in more opportunities.

I spoke with a bank today and was told that whatever I purchase the property for is now the value of the house. No matter that it was sold in 2017 for $82k and the information that the comps are revealing. He said because the house would be an investment the refinancing would be 90% of the purchase price and because the value is based on purchase price, there would be no equity for a heloc.

This doesn’t seem to match up with what I’ve read and heard on the BP podcast.

Any thoughts from the BiggerPockets world?!

Thanks!

Bobby

Thanks, Kevin! I will check it out!

Hi!

I’m new to the real estate investment game. I’ve set some financial goals for myself to get me in position for starting out and have started doing freelance design on the side to assist in building a cash reserve.

I would like to keep my investment money separate from my personal accounts and I’m looking for advice on which small bank or credit union I should look into. My research has shown me that it’s best to start an account with one that you plan on working with in investment strategies.

Any thoughts?

Also, let me know if you’re in need of any design work!

Thanks!

Bobby

@Joshua Hively

Hi Joshua!

Thanks for adding to the discussion. I'm definitely still green to REI. I have money in stocks, which is fine, I just like the idea of being able to influence the return on my investment and create a cash flow system. I'm always happy to chat!