Feedback on current Project please

[Syman Scarpellino]

Hi everyone,

In contract on a interfering property in Northern California. (Humboldt county)

Address: 2432 Bainbridge St Eureka Ca 95503

Currently in contract at $230,000 and seller seems set on price.

Currently looking at around $120,000 in rehab:

Floors, roof, kitchen gut, bathroom gut, add bathroom, paint in/out, new electrical throughout, new furnace, new water tank, few other small items.

Give me your experienced opinion. Being a novice, I'm a little shaky on ARV and Rehab budget

https://www.zillow.com/homedetails/2432-Bainbridge-St-Eureka-CA-95503/18818843_zpid/

[Scott Stephens]

Hi Syman, congratulations on getting this property under contract. I have done similar sized re-models in the past and I think you'r repair cost estimate is within the ballpark if you are planning to do much of the work yourself. Hiring professional tradesmen in this area is expensive and they are in high demand.

Your realtor should be able to come up with comparables to give you an idea of the ARV and potential rent amount. This will be crucial in figuring out what size repair budget you are working with. The bigger pockets calculators are excellent for being able to run the numbers.

If you have an inspection period, you can hop on getting estimates from a roofing contractor, electrician, plumber, etc. Don't forget to look at the sewer lateral. Eureka is full of old sewer laterals and the city is moving towards a point of sale certification process. 

This project looks like fun! Keep us posted on your progress.