2323 A St. Linocln, NE 68502 (Homepath.com)

[Jared Sveen]

Hey everyone,

I was curious if anyone else has taken a look at this property and had thoughts on it. 

Zillow Link

I walked through it on Sunday and thought it had potential but I'm still pretty new at this and have a difficult time projecting repairs/rehab costs. 

The property clearly has a few issues but overall I think it could make for a decent BRRRR deal if I can get it at the right price. The items that I'm seeing as large issues are as follows:

- foundation issues (which likely lead to water in the basement) 

- Needs a new roof (within a year or two)

- Screened in sun porch needs to be torn down (or somehow salvaged)

- downstairs half batch needs to be gutted and replaced.

- Needs new siding (possibly lead based paint)

Otherwise, everything else is in fairly good shape, but probably could use paint throughout and maybe new counter-tops in the kitchen.

After doing some research on comp sales I estimate that the ARV to be between 115K to 125K.

I tried tailing everything up being very conservative about the repairs and I think it would run roughly 40K for all necessary repairs.  However, with their being a large issue with the foundation I'm nervous that my estimate might be too low.  

This may be a lot more work than I would like to put in on my first BRRRR deal but thought I would at least get some experience with the analysis and see what the "number" is for this property.

Any suggestions or advice is welcomed!