All Forum Posts by: Account Closed

@Jeff Cliff

Here are some questions you need to ask your general contractor.

1) How many years have you been in business? (Make sure their LLC is active)

2) How many people are you in your crew?

3) When can they start?

4) Are you okay with providing a labor only quote?

(They can buy the materials through your Home Depot pro account and do phone sales. This way you control the materials and there’s less money changing hands with the labor only contract.)

@Jeff Cliff

Are you moving interior walls? Adding or resizing windows? You’ll need an architect to submit plans to the city for approval. Once the plans are approved then you need to hire a general contractor.

@Cole Brunet in North Carolina you can house hack a duplex using an FHA loan with as low as 3.5% down. If we're talk NC suburbs that might be 7 to 9 grand in down payment.

@Brad Spuhler jump on the Thumbtack app and get five bids.

@Robert Collins I use a Florida Hardmoney lender that has an interest-rate @ 10.49. So if your refi gets delayed it’s not the end of the world. Also if you have experience, the origination points can be as low as 2.24.

@Steele Nugent i’ve had great luck with the Thumbtack app

@Tyler McDaniel i’ve had great luck with Thumbtack app

@Jucando Pereira fix your credit and house hack a duplex. That is the fastest way to gain equity.

@Robert Collins Bad neighbors and a bad foundation

@Jamie Hailey I would highly recommend to house hack a duplex. That way you get the experience of being a landlord and even if the other side doesn’t rent out, your monthly housing payment will pay for the mortgage.

Further, single story duplexes tend to be very simple structures with slab foundations, reducing the chance of a complex rehab.