All Forum Posts by: Travis Blinkiewicz

I have property that is an abandoned hospital that was picked up for around $70k. Looking to renovate it into assisted/independent senior living with a partner. The hospital is located in Salina, KS. The city has invested interest in the project and is need of some ASL/ISL development.

Just curious if anyone out there has had any experience with big time development focused in ASL/ISL and may be interested in the project.

Let's talk!

I have had this issue as well. We decided to go with the cheaper repair for the flip which was putting a positive grade around the entire house (sloping the ground away from the house) and digging in 4in storm drains into the ground to all the downspouts to get the water away from the house. In addition, we used a 'waterstop' patching material found at HD or Menards. This saved a bunch of money doing it ourselves. 

Looking back at it though, I almost wished we paid the contractor to do the trenches in the basement with sump pump. Usually this could be warrantied and you could call them in the future if you had any new issues. We haven't had any issues since but it took some time to complete ourselves that we could have been doing other things.

If house hacking, change the locks.

If not house hacking, wait till vacant to change. 

If you can't wait to change for some reason, get it all lined up with a good handy man that can do the work fast/efficient to be convenient for the the tenants vs. trying to do it yourself. 

@Joe Funari thanks for your insight. I will have to check about the separate metering. I was not even thinking about that. If I am not managing the properties myself, wouldn't that fall on my management company to charge the tenets appropriately if they are not metered separately?

I am looking at buying a rental property that has two houses on it, a 3/1 with street access and a 1/1 in the back of the property that only has alley access to it. Both are currently rented. Both allow parking via the alley.

Has anyone had issues with renting out a back house on a property with only alley access?

it wouldn't be ANOTHER mortgage. the refi replaces your existing one on the property.

when you receive your cash, you use that to fund the next property (buy and rehab), then you rent it, refi that property and do it all over again. 

check you the BP BRRRR book, its a great read in this topic and has helped me quite a bit!

Is the property you are refinancing a rental that would be cash flowing after you refi it? at 75% LTV cash out refi, that's 165k (220k x .75) . I would go with refi and us that money to find a fixer, buy with cash, pay for rehab with same cash, and rent it out. Then refi and do it all over again all within a short period. With the refi, your cash flow each month will go down but you will be able to do this fast over and over again. BRRRR rocks.