All Forum Posts by: Jimmy Murray

@Gualter Amarelo We have to connect on financing for sure! 

@Raymond Hill I think the quotes above me for granite are aggressive. I've heard of guys paying $35/ sq ft but that was with an established relationship. For granite I would budget for $45-50/ sq ft.

@Tyler Cruz Congrats on such a successful investment! Investors would kill for those returns. haha

I would see if you can take out an equity line on your investment property. Or you could go to the bank and see if they would be willing to put a lien in second position on that property to be used as collateral for a new purchase.

@Jeffrey Odu For a commercial loan banks are going to be more interested in Cash Flow of the property vs. your personal financial statement in most cases. 

With a $200K downpayment I think this should give you enough financial backing to land a commercial deal with a bank.

@Samantha Klein If you I couldn't easily add another one I would include it. Typically for including hot water we could get between $25-50 per month for rent in my area and the gas for hot water should only cost $25-50 monthly. 

@Samantha Klein It sounds like you are not overlooking anything. 

Are the water lines to each unit clearly marked? If so, maybe it makes sense to put in 2 Hot Water tanks and split out that utility as well. 

@Yonah Weiss I too was in your shoes at one time! 

I ended up house hacking, followed by wholesaling. Only to realize that I was really good at talking to tired landlords which lead me to property management.

I think this could be a good opportunity to generate some capital. I know in my area the refrigerators could net you about $15 at the scrap yard. We have companies that "Buy Junk Cars" so the car could fetch $300+. Then with the boat I would call local marinas/boat yards to see if anyone Rehabs boats. I think you may be surprised with the opportunity this could present.

@Yonah Weiss I would give you the advice to find what your most interested in and see where it leads you. 

Once you find the topic that really makes you excited you can track down podcasts, blogs and posts that will help you maximize your learning.

@Jennifer Cheu I would recommend having the contractor complete the tile and floors. To include a new toilet (in addition to the floor) and have him install that as well should cost less $250.

From there I would recommend hiring a glazing company to reglaze the tub and tile. 

After that, install a new vanity and this will put your bathroom rent ready condition.