All Forum Posts by: Ajay Sandhu

Hi 

I need some help with renovation budget for a BRRRR deal I am currently working on.

How would you differentiate between a BRRRR renovation vs Flipping renovation?

What kind of renovations are most beneficial for a BRRRR project ?

I understand our goal in this scenario is to increase the appraised value of the property while refinance and being a durable and appealing rental investment for years to come. 

Thanks in advance for your help.

Regards,

Ajay

Electrical engineer in Calgary, Canada.

Hi

I am a newbie. I am working on a deal involving the purchase of a condo as a rental property. The property would yield a positive cashflow calculated using the rental property investment calculators provided by BP. During the condo docs review, it came to know that there is a shortfall of $200K in the reserve fund unexpected repairs due to water leakages (Risers are leaking). The building is only 4 year old and there are multiple incidents of water leakage as discovered from the Minutes of meetings of the board.

Would really appreciate for guidance of the experienced members of BP on the following:

- Whether to proceed with the deal? There is a shortfall of 200K, I expect there would be special assessments / condo fee increment in near future. 

- Is water leakage (due to risers) in condo buildings a severe issue? 

- What should be the strategy to negotiate with the seller in this scenario?

Your time and valuable advice is highly appreciated.

Regards,

AJ