All Forum Posts by: William Matory

@Moritz Bode

Flat Paint and Luxury Vinyl Plank (LVP) Flooring throughput...hands down.

Flat paint does not show patches and repairs as easily as other finishes that reflect light.

LVP is awesome for flooring because it’s waterproof and goes down really fast because most brands do not require underpayment and because it is synthetic it doesn’t need to acclimatize before it’s installed. Also you can lay it seemlessly throughout a property. It can go in bathrooms too.

Only “Con” is it is more expensive per square foot however you won’t need to replace it like carpet.

Best info is here https://www.lejeune.marines.mi...
these timeframes are as of the start of the month.

@Jordan Tinning

Fayetteville, NC and Jacksonville, NC big Army and Marine Bases in NC. Camp Lejeune NC has a base housing shortage...400 homes on base will be closed requiring service members to move off base.

@Dwight Porter

Lots of good points from all above...In those cases where a seller won't accept VA buyers...This might indicate you want to stay away from a property anyway as a property must pass an Electrical Inspection and a Termite Inspection before a VA Loan can be issued.

Hello BP Fam,

Seeking your advice on a House Hack I am about to undertake...

Located in Richlands, NC, just outside Camp Lejeune, NC, Home is a 3/2 SFH the prior owner 1) turned a BR into a dining room and 2) turned the 1-car garage into a living space.

As is the home is a 1400 sq ft 2BR/2BA unit no garage.

For now it will be just me and my dog...Looking to get it rented within a year.

Purchase Price: $97,000

ARV: $160,000.

Estimated rent as a 2/2 is $1025...as a 3/2 is $1150.

Given the above, I’m fairly certain I need to turn the dining room back into a bedroom but I’m not sure I need to convert the garage back into a garage.

I would convert it back into a garage because I need storage but I'm worried that will negatively affect my ARV and my rental rate.

What about outdoor storage/sheds?

Any thoughts are appreciated.

Kohler CIMMARON hands down is the best toilet.  Not only low-flow, the flushing mechanism reduces the likelihood of clogs.  The oldest one in my oldest property needed a small part after nearly 10 years.

@Anthony Sinigaglio

You can try and do a “QUIT CLAIM” Deed through whatever county/city office the home is in...They would be transferring the house for the “consideration of $0”.

The catch is if you ever sell it your “basis” is $0...If you sell it for $100,000...your gonna get taxed on $100,000.

You should refinance cash-out for a chunk of the value.

@Brian S.

Try doing a “Quit-Claim”.

@Jerid Ladson

Best product I’ve found is “ODO-BAN” concentrate. You can find it in Home Depot or Sams Club in Gallon sizes for less than $20.

You get a pump sprayer (like the ones you find in the garden section) and spray the concentrate on the walls ceiling and floors.

On the walls and ceilings you spray it until the ODO-BAN is dripping down the surface. Depending on the intensity of the smell you let it dry and reapply as above.

The first time I used it was on a garage a tenant smoked in with the door open. Got rid of the smell in two applications.

Now I spray as soon as I take possession of a property and I spray through the rehab right up until we paint. I hit it one more time before move in.

@Noelle Pritchard Barkley

Zips 28540 and 28546.

Typical 70k Townhome rents for $800-900.

45-65k Duplex rents for $600-700.

100k Single Family Homes rent for $1000 and up.