All Forum Posts by: Barbara G.

You said you had 4 Buildings?  So you would need 4 Roofs

We just put one roof on a small duplex and it cost $6,000 so I would say 4 roofs would cost $24,000 and not $18,000.  Do you also need new Gutters which would cost approx $3,000?  Thats what we paid iin Conn!

$  agree that $100.00 for water seems low, we pay more then that for 4 units (2 duplexs).  Our renovations on units that age cost us approx $50,000.  We also have approx the same $4,300 rent for the 4 units

So what is the amount of positive cash flow?  

We bought 2 sister, matching duplexs  with a shared driveway that after we raised the rents on 3 should now cash flow for approx $2,000 a month BUT both duplexes  needed a new roof and a cosmetic new sided front and upgrades on the bathrooms (we have done 3 bathrooms)   One tenant moved out so their apartment had to be painted, with a new refrigerator and new cabinets in the small kitchen (inexpensive, but good) and the bathroom upgraded.   We self manage the 2 duplexes.

The bottom line is we have the 2 houses for one year and so far have put all the positive cash flow into the renovations and we still have approx $10,000 more work.  We still need one more roof on the second duplex.

We estimate we need to put another 5 months of positive cash flow into the rest of the renovation and after that we should be running with the $2,000 a month cash flow.  Of course the property has appreciated because of the renovations and the neighborhood is Blue collar good.

This is been so far like a second job but we feel OK about it. We would be happy if we could find another two like this.  How does this deal sound to everyone?

About your first house for $125,000.  Your rent roll was $1,300  in total?  Was it a singe family?  

Tell me How much does it cost to have the painter paint/refinish your cabinets

If you bought Loews "Made in China" inexpensive cabinets what would the price difference be and would it be worth the price difference?

Sounds good

ow much do you estimate for:
Kitchen

kitchen cabinets. counter tops, stove, dishwasher, sink, refrigerator

washer dryer hook ups, tile floor, labor

heat/hot water

Bathroom fixtures

Bathroom  tile floor, tile walls

Painting

Porch floor etc

If you have to do 4 kitchen floors over and 4 kitchen counters  how can you rehab this for $23,000

Is there any way you can itimize your expenses

Like electric plumbing?

Labor?

How much will each apartment rent for?

How long will the rehab take?

How many months will you be without tenants

What are the taxes and the morgage paymenrs?

B goodman