Brand New
my name is sarina and i am a single mother who has 10,000 in my savings account . my dream is to flip houses and im just starting my homework. i live by palm springs ca and know that the prices out here are outrageous. anyway im not trying to be a leech but any info positive or negative would be great. i was told that az was a place to go to get some flipping started but like i said im still in the homework stages. i have family in every trade you could imagine that would help with everything from tile, carpet, roofing, landscaping, painting etc and not expect to get paid until the home sold. i also am not looking to make a quick buck i really want to do this full time for the rest of my life. Does anyone know about any investor meetings in the palm springs area or suggest any GOOD books to buy that would be worthwile.
thanks
Look at www.Hud.gov, run an ad in the newspaper for investors to help you.
Read the forums here, Beginners is a great place to start, Read every book on RE invesitng you can. Ignorance is the most expensive education.
Good luck.
[addsig]
"Buy it, Fix it, Sell it, Profit" is a pretty good beginner book
thanks guys for the info i so appreciate any information
Just to clear up a misunderstanding.........linoleum and vinyl are not the same product. I hear people constantly use these words interchangeably.
Linoleum comes from a natural product, vinyl does not. Linoleum was around long before vinyl existed and for various reasons took a second seat to vinyl once this product was introduced into the market. Linoleum is starting to make a come back though.
Tar paper is often used as a vapor barrier but adhesives to not hold to it.
regards
NC
happyhome
I am learning here
what do T&G and VCT stand for?
In your experiences, is Armstrong self adhesive vinyl a cost effective method for rental property? I mean do they withstand the wear and tear of renters?
[addsig]
tom,
T and G= tongue and groove
VCT= Vinyl ? Tile
Quote:
On 2007-01-14 21:26, tom7w wrote:
happyhome
I am learning here
what do T&G and VCT stand for?
In your experiences, is Armstrong self adhesive vinyl a cost effective method for rental property? I mean do they withstand the wear and tear of renters?
VCT= vinyl composition tile
Quote:
On 2007-01-14 23:08, donanddenise wrote:
tom,
T and G= tongue and groove
VCT= Vinyl ? Tile
Quote:
On 2007-01-14 21:26, tom7w wrote:
happyhome
I am learning here
what do T&G and VCT stand for?
In your experiences, is Armstrong self adhesive vinyl a cost effective method for rental property? I mean do they withstand the wear and tear of renters?
Chris,
I have seen the tar paper before, what a headache. Usually used as a cheap vapor barrier. Agreed adhesive remover would be the best thing, because, I like yourself would probably end up with a BBQ on the floor.
good luck
Tom,
The last house I did we used the self stick squares )$1.10 sq ft) in the 12 x 15 kitchen rather than sheet vinyl ($9.00 yd). Both would take about a day to install. We felt the sheet vinyl was too soft and would tear in the short term. There is more expensive sheet vinyl $23 yd + that is harder but for this lower end rental we went with the squares. Not the VCT but the more decorative, shiney and harder Armstrong tiles. I will always use primer and adhesive on any installation even if they are self stick. You can slide a refrig, table, etc across it no problem. We did use sheet vinyl in two 5 x 5 bathrooms.
Quote:
On 2007-01-14 21:26, tom7w wrote:
happyhome
I am learning here
what do T&G and VCT stand for?
In your experiences, is Armstrong self adhesive vinyl a cost effective method for rental property? I mean do they withstand the wear and tear of renters?
Actually I did go to mineral spirits. I found that using a very thick coat of the Jasco adhesive remover (ignore the instructions calling for 160 square feet per gallon coverage!), scraping it with a putty knife, then a thin coat of Jasco, scraped and then wiped with paper towels, got rid of most of it, and then I followed up by rubbing it with a rag soaked in mineral spirits and the sticky was all gone. Took all day to do a kitchen floor, though-
Chris
Chris,
I have found the Goof Off is a decent solvent, you may also want to try Acetone or Denatured Alcohol(available at any of the box stores) to remove the sticky crap left over. Also be careful with the mineral spirits fumes, they can be quite nauseating ( even the no-odor) stuff,
just a personal experience.
good luck
[addsig]
That was actually my first thought but as I mentioned in my initial post, there was a nice oak floor underneath which I decided to expose.
Well, actually it appeared to be a nice oak floor, but once I ripped out the kitchen cabnets years of leaking from the sink had rotted through the floor, so I had to rip out about a third of the kitchen floor and replace the subfloor and oak flooring in that area- luckily the floor joists were still in decent shape
Interestingly the property inspector noticed the leakage but said the floor was O.K. underneath it- guess I should have looked more closely myself... $125 of flooring and 10 hours work solved the problem. Now on to the bathroom!
Chris
Chris,
you did the right thing, always better to be safe than sorry, cheaper is not always better.
The bathroom , what is the task, plans,
[addsig]
Chris,
when you replace the toilet (rotate) pay close attention to the spacing from the wall , they come in 10,12 and 14 inch distance. I know because I did the same thing and the distance once rotated was 2 inches shorter than the prior one. good luck.
[addsig]
does no one have any ideas or advice?
Are you selling, buying, or something else? More info. is needed to assist you.
How do i do that? A prequal letter?
Pre qual letter, guarentee of funds, letter of credit,
whatever you call it, it is all the same.
so to make sure we have this right, you are basically offering 124k for the property. putting 20k in and ARV is 190K.
Are your rehab numbers good?
[addsig]
Talk to a mortgage broker and they can tell you how to do this properly.