All Forum Posts by: Aaron K.

It depends on the area and property type, but generally below grade sqft is valued less than above grade even if it is really well done, it may be difficult to value simply because it unique but if this is a primary residence and you plan to stay long term the value add isn't the biggest factor to consider here.

1. It is probably a garage/ shed or some other form of non-livable space, if it is a building and on the property you would be buying it.  

2. Why would you want to buy just the buildings, this is super uncommon and very unlikely that even if technically possible that the seller would agree to it.

Bottom line is you don't know what the mystery building is, it probably is not currently a livable unit.

The same concept applies, but a furnished place is a whole different set of potential tenants, many are more likely to be short term so correct more quickly if you don't see traction early.

Probably not much depending on the price point, inventory is still tight and a lot of people will see that as temporary, there is someone for every house, don't be scared to do a little price discovery before dropping price.

@Aaron Phillips you call the lender and ask before you even apply, they can all do it, it is just a matter of if they will or not.  Also keep in mind that simply not qualifying and not having a proper assessment of your qualifications are two different things, so if they are calculating correctly and your friend doesn't make the cut, there aren't as many options.

The trick is getting someone to manually underwrite and actually understand the situation, your friend needs to get really good at explaining how she is compensated in a short amount of time, and she needs to know the value of all these stipends if they are not well defined and just reimbursements for certain things.

Where was your most recent flip?

Maybe, but probably not, most mobile homes are individually owned, but if it is vacant and has been abandoned the owner of the park may have foreclosed on it, check your county records to find out though.

No it is not realistic in the vast majority of markets, in most markets you'd be lucky to get 1%.  Not to mention it is a bad metric to evaluate on anyway because some places where you might still find it like rural PA or TX have high property taxes so while rent/ price ratio looks good actual returns aren't as much higher as that metric would indicate compared to other markets.

Don't forget insurance, and property taxes.  As for repairs and rehab it is totally case by case basis.  You only repair things that break, which if you could predict that in advance you would make a lot of money.  Rehab depends on price point and how dated the home is to begin with, in FL I'd say the easy renovations are things like if your bathroom vanity and/ or toilet is a color other than white/ gray it is likely worth it to upgrade.