All Forum Posts by: Steven May

Thank you all!

Will utilize all of this information!

Hey I am a new RE investor. I am in the process of getting my first rental property under my belt and was wondering how did many of you go about dealing with contractors in the beginning? I am located in Springfield, MO. 

Let's say for example, the property needs new floors or new cabinets. 

Did you try and save money and do a DIY project at the local Home Depot and put in the sweat equity? Did you call around for local contractors and have them come see the property and compare multiple estimates? Should you have a contractor with you during a walk-through inspection? Are there certain websites that you trust more than others for finding contractors? How do you negotiate terms with these contractors?

I feel comfortable with the financing and landlord aspect of the property, just wondering how to go about the actual rehab process. Let me know!

Graduating in May to be a Registered Nurse and looking to buy a home in Springfield, MO. Credit score is in 600s. Looking to buy property in 100k range and air bnb it so pay the mortgage since I’ll be working night shift. Wondering how much the bank would like me to have in net worth/cash to obtain a FHA with 5 or 10% down for higher cash flow initially?