All Forum Posts by: Ryan R.

I get my laminate from an online retailer and they can either ship it to me, or I can drive to one of their warehouse distribution centers and pick it up; which obviously saves shipping. 

I've been using a 7mm laminate with attached pad. It's about $1.09 online. It's rated for light commercial wear, saves time and money on installation since the under-pad is already attached, and everyone seems to like it. I find that is much better quality than what I can get locally, especially at the big box stores. 

I've installed engineered hardwood, 12mm laminate and this 7mm laminate. For a typical application, the 7mm is the way to go. 

She wasn't willing to deal so I moved on. Have since done 2 deals and closing on another on Tuesday. 

I think it was a good strategy, and I will probably use it again in the future. 

I was 21, my wife was 20. It was purchased as my primary residence. I tried to buy a house earlier, around 19-20, but I could not get a loan. I've owned this one for almost 10 years now, plan to hold it for a long, long time. 

I had decent credit, around 700 and my Debt to Income ratio was more than adequate. 

Excuse the yard, this was taken during a bad drought in Texas a few years ago. 

Can you name the services? I'd like to look research them. 

I try to make all my requirements clear before they take an application, so if they are honest, the app and credit and background checks are just a formality. I tell them up front what I expect. 

Do not trust the wholesaler's numbers or analysis. Most wholesalers don't have any idea what they're talking about. Some do, but most don't. 

Establish the After Repair Value. Subtract your rehab and closing/holding costs from this ARV. Then subtract your desired proft and I would also subtract a 15% cushion since this is your first one. This final number is what your purchase price should be. Don't let the wholesaler persuade you of anything different. The wholesaler will tell you anything to get paid.

@John Blackman how much did this pier and beam foundation cost you and how many square feet is the 1st floor? Also, I can't tell if there are termite shields on those piers or are they chemically treated only.?.

The percentages are fun to look at, but they are each applicable only to the market in which they are derived, and the asset manager. 

I'm in contract with HUD right now, and I'm getting the house for roughly 30% off of list price; paying roughly 60% of original list price. But that should not mean anything to you.

The percentage has more to do with how accurate the original list price was set, and how the purchaser intends to use the property, rather than an indicator of a deal.

Here's an example: Two identical houses next to each other, both HUD homes. House A is listed at $100,000. House B is listed at $85,000. Investor 1 purchases House A for $90,000. Investor 2 purchases House B for $85,000.

Investor 1's percentage was 10% off list. Investor 2's percentage was 0% off list. Now, who got the better deal? 

Your offer should be based on the 70% rule, or whatever analysis you use to determine profit potential. But not on what percentage you're getting the house at. 

 This /\ . Read This /\. Read it again /\. 

I might try this new RhinoShield I keep hearing about. Check it out, here.

Be sure and keep an eye on the property. Find out who is involved in the eventual, if ever, purchase and why they decided to purchase it and how they plan to resolve the issue.

You may learn something from them, or they may learn something that you already knew..