- 4,291
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- Mar 8, 2004
Congrats, we are coming up on a year of being in our home.
- 4,900
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- Apr 12, 2011
It was a local contractor. He did all of our work and he will most likely do the rest of the house. I looked it up on youtube and its not hard of you want to try yourself but we paid a dollar a sf in central fl. Just so you have an idea.
Call some painting companies they either will do it or know someone who can.
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- Mar 8, 2004
Thank you, our house was built in 1972 so I don't want to chance doing it myself.
- 10,477
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- Dec 19, 2013
Spray the ceiling with water and scrape it off.
Or you can have them smooth coat it with a skim coat
Or you can have them smooth coat it with a skim coat
- 4,291
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- Mar 8, 2004
Thanks for the info, bro!
- 10,477
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- Dec 19, 2013
No worries. Either method is messy.
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- Feb 17, 2008
- 17,017
- 23,827
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- Feb 8, 2009
In the process of purchasing my 1st investment property in Acworth, Ga (near Kennesaw State University). It's a duplex so I'm getting rent from 2 tenants, each currently paying $900/month. Everything, closing costs included is $193k. My down payment is $39k and my mortgage will be a little over a $1,000.
I'm excited to be making passive income, My cousin owns some duplexes down the street from the one I'm buying and his property values have gone up alot in the last year or two. I'm going to be working with a property manager as well.
We completed the home inspection with no major issues. I'm excited to be a home owner.
I'm excited to be making passive income, My cousin owns some duplexes down the street from the one I'm buying and his property values have gone up alot in the last year or two. I'm going to be working with a property manager as well.
We completed the home inspection with no major issues. I'm excited to be a home owner.
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- Sep 15, 2013
I just moved into my first home a few weeks ago. I put 5% down on a high rise condo in Metro-Detroit area. It was listed at $95k and I paid $86k and the seller paid my closing costs, and provided a home warranty. My uncle and I put new floors in, moldings, and repainted everything. I was kind of worried throughout the pre-approval process because I have such a high balance on my credit cards but turns out that things worked out after all.
Atlsfinest - Congrats! Duplex seems like a great investment move, I'd love to get into investment properties in the future. I hear its pretty tough finding a property where you actually turn a profit on a monthly cash flow basis until its paid off so kudos to you on the find!
Atlsfinest - Congrats! Duplex seems like a great investment move, I'd love to get into investment properties in the future. I hear its pretty tough finding a property where you actually turn a profit on a monthly cash flow basis until its paid off so kudos to you on the find!
- 10,477
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- Dec 19, 2013
If you see your values go really high...think about selling.
My experience with rental properties is that it only takes 1.
Had a horrible tenant and had to pay him to leave, smh.
My experience with rental properties is that it only takes 1.
Had a horrible tenant and had to pay him to leave, smh.
Tony $now
formerly lilyo06
- 8,162
- 6,725
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- May 25, 2008
Just selected my lot for my first home on Saturday with construction set to begin after i choose my upgrades at the builder. I had a question about the earnest money. When does the builder/mortgage company deposit the earnest check? I dropped it off on Monday, and it still hasn’t been deducted from my account.
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- Mar 31, 2011
It generally takes a few days. Should hit your account today or tomorrow.
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- Mar 31, 2006
You aint lying. The same house I own behind me is on the market for $749k. Tenants are paying way below market value rent. It's been on the market for 6+ months and houses have been selling for 830k+. The cheapest 2 fam in my neighborhood right now is $929k.
- 10,477
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- Dec 19, 2013
Houses on my block are selling fast for $900k. Most of the duplexes, 4 plexes are going for over a million.
Had the house appraised for a refi and the guy said I should be charging 2.2k per unit.
Im owner occupied for the moment but I might have to move out.
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- Jul 16, 2002
Hey fellas! i'm getting close on closing on a property. quick question regarding home insurance. is it better to go directly to an Agent at a specific insurance company or to use an independent Insurance agent who can pull many different insurance companies to compare rates. pros vs cons of each approach?
- 4,900
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- Apr 12, 2011
My realtor blasted me out to like 4 brokers who blew up my phone for 2 days with quotes. They all had the same insurance companies but different prices. Didn't consider going straight to an independent broker though.
Are you sure of which company you want to go with?
Are you sure of which company you want to go with?
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- Jul 16, 2002
not sure at all. my real estate attorney recommended me an independent agent that he used for his personal home and car insurance. I called the agent today, and he is supposed to get me some prices from different insurance companies tomorrow.
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- Mar 31, 2006
I'm owner occupied too. I love my house, but the people on my block are scum. The issue with prices rising like this is now it cost a lot more to buy another house. I'd like to stay in the neighborhood, but I can't afford these prices. I guess it's a good problem to have. In terms of rent I like to stay in the median. I don't want tenants moving out every year. I got a good tenant now paying 2.2k, I can probably get $2.4k, but she's quiet and pays rent on time.
- 10,477
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- Dec 19, 2013
Same. I’d be house poor buying another house in the neighborhood
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- Jan 28, 2006
I am looking into investing in the Atlanta area. I am not sure if I want to take a shot on buying and flipping or renting for residual income. I am looking to get deals in cash buy outs and go from there but have absolutely zero knowledge on the real estate investment game ... I like the path you took. If not too much to ask, what is the % commission for the property manager? How much do you stand to net per month?
- 17,017
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- Feb 8, 2009
My mortgage (interest and principal) and other expenses (home owners insurance, taxes, etc.) come out to $1100. I'm getting $900 a piece from 2 tenants, my property manager get 10% ($180/month). So my net is around $520 each month. the property values are going up in the area so hopefully soon I'll get able to get more for each unit. For me its not really about the $520, its more about the long term prospects of owning the property.
I'll pay off my mortgage in 15 years at my current rate, what I'm really looking forward tol is being able to have the all $2000 each month in rental income be profit once the place is paid off completely. I look at the property as a part of my retirement along with my IRA, mutual funds, etc.
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- Jan 28, 2006
Man you making complete sense here with this one ..... I am slightly interested in both avenues, the short and long term. You just made me really appreciate the long term outlook though ... It's a significant change on my outlook considering my 401K is only currently average for my age group ... I would gladly pay a property manager 10% to keep things in order as I'd like to have a couple of units ... Thanks for the insight man ...
On more question, if you don't mind me asking - How long did you search for a place, and how did you go about selecting a property manager?
Thanks bro!
On more question, if you don't mind me asking - How long did you search for a place, and how did you go about selecting a property manager?
Thanks bro!
- 17,017
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- Feb 8, 2009
Yeah its all about the long term. Ideally I'll own 3 or 4 duplexes when its all said and done.
Its not all sunshine and rainbows and I know that over the years I'll have to shell out money for renovations, new roof, heater, etc but that's part of the home ownership.
I'm fortunate that my cousin owns some properties in the area and he put me on. I'm using the same property manager he does. I met the property manager when I was back in Atlanta and he's a good dude.
Los Angeles
formerly bright nikes
- 23,121
- 4,651
- Joined
- Apr 11, 2004
Damn bros, been a long time coming ... a couple years ago my FICO was at 550ish and buying a house looked nearly impossible.
Fast forward to today, FICO is at 700+, wifey and I got preapproved for FHA 3.5% and Conventional 5% ... put in an offer for a house in LA County thats gonna need some work (cosmetic) and in the counter the seler is selling as is, but anyways we countered their counter and the property has multiple offers - with the seller choosing the buyer on monday ... lets see what happens.
Fast forward to today, FICO is at 700+, wifey and I got preapproved for FHA 3.5% and Conventional 5% ... put in an offer for a house in LA County thats gonna need some work (cosmetic) and in the counter the seler is selling as is, but anyways we countered their counter and the property has multiple offers - with the seller choosing the buyer on monday ... lets see what happens.
