All Forum Posts by: Tyler Arentsen

@Martin Vehlow I'm also very new to bigger pockets, are you supposed to tag someone when replying?

Is $10,00 -$15,000 a safe estimate for material for laminate flooring, carpet, a "new" kitchen(mostly slightly used materials in the cabinets, stove, and fridge), vinyl siding, interior paint. This is assuming I'll spend ~$1,000 on miscellanies repair on electric, plumbing.

That is a great question, I don't want to wait a month from now because I believe it is a great deal. I believe a big turn down from this house is that it has shingle sliding. I view this as a plus. I worked in construction from age 16-20 and now I am in IT. I'm tired of sitting at the desk all day so I want to get my hands dirty again on my spare free time. I've drove to the house, and it is in a good location. I attached a photo for you to see the surrounding houses' prices, not sure if it uploaded. From looking at the outside in person and seeing the pictures of the house I believe I would have to put $10,000-$15,000 into the house(if nothing is wrong in the walls... mold, electric, plumbing, etc.). I would then rent it out. If I want to sell it after its fixed up I believe I could sell the house for more than $90,000. 

I guess I could purchase the house with the help of my parents. I am able to purchase the house with no money down? What are the downsides to this? I'm aware that my monthly payments would be larger. I would try to pay double or triple the amount to lower the monthly payments.

I am graduating with my bachelors with no debt on Saturday. I've been working since 16 and I have spent all my money on college, down to less than $1000 now. I found a house that I want to purchase, fix up, and rent. It is posted for $39,900. I have a solid government job and will get a $12,000 a year pay raise in a couple weeks. I can purchase this house in the beginning of February with a down payment of 10% but I want to buy this house before it gets sold(ASAP). 

My question is: is there a way I can get this house now or should I wait? What would EXPERIENCED investors do? 

Financial summary: I currently own half a house with my father and do not have a credit card yet. I could barrow money short term from my parents and pay them back in a couple months but I'm looking to do this independently. Money will not be an issue a month from now.