All Forum Posts by: Brendan Seals

What would you suggest be the best course? What would you do for this fixer? Thanks

Quote from @Chris Seveney:

Quote from @Brendan Seals:

I need some help and some ideas how I can change this to keep or bring more value. I don't know if should extend the drive way knocking down that attached small shed that is in the back. The attach garage/small shed you can see in the back is sunk in by the missed up concrete. Plus, how much you think it will all cost for what you think I can do. I wanting to do the less cost as much as possible of course if it can be done. Thanks

 Whatever you do is not going to bring more value, or let me rephrase, the cost of the work will be greater than the value it provides. 

 What would you suggest be the best course? What would you do for this fixer? Thanks

I need some help and some ideas how I can change this to keep or bring more value. I don't know if should extend the drive way knocking down that attached small shed that is in the back. The attach garage/small shed you can see in the back is sunk in by the missed up concrete. Plus, how much you think it will all cost for what you think I can do. I wanting to do the less cost as much as possible of course if it can be done. Thanks

Wow, awesome comments guys. I guess I was over thinking, this my first time buy property. Thanks for the feed back. Helps me rethink a lot of things. 

JD, I agreed on 70,000 with condition that nothing major comes up that need replaced or fix, if so we will put that in consideration. Also, I should of done more due diligence before having a whole house inspector come look it the house. I guess if I have to walk away from it then I will. I Just don't know if I will really get a good return on it if Put in 15,000 in it (if thats correct) and plus no cash flow until I get it ready to be rented.  

zillow has it around 67k to 74k 

So, this 3 bed room, 900 square feet, home I am planning on buying HVAC and water heater is out of warranty. I believe the Hvac is 23 years old and the water heater is 15 or more (as I remembered). The seller wanted 74,000 for it and and I asked for 68000 on it and we came to 70,000. I am thinking that those items alone could cost 4,000 to 12,000 and plus there are other problems of repainting (there was a smoker that lived there) and other electrical modification I have too do. It all together cost up 13,000 15,000 to rehab it and be good for renting. So, it would I be wrong in going down 65,000? I would have to pull out a little more for the money to fix it. What would you recommend?

So, this 3 bed room, 900 square feet, home I am planning on buying HVAC and water heater is out of warranty. I believe the Hvac is 23 years old and the water heater is 15 or more (as I remembered). The seller wanted 74,000 for it and and I asked for 68000 on it and we came to 70,000. I am thinking that those items alone could cost 4,000 to 12,000 and plus there are other problems of repainting (there was a smoker that lived there) and other electrical modification I have too do. It all together cost up 13,000 15,000 to rehab it and be good for renting. So, it would I be wrong in going down 65,000? I would have to pull out a little more for the money to fix it. What would you recommend? 

1. It is a house, 3 bedroom home.

2. There is not tenats existing yet, I will in few months starting renting this house I own.

3. Not 100% sure the tenant laws, as far as I know, I can do that. 

So how do I make my tenets pay all the utilities? Due I put it in the rent agreement? Also, how do I make sure that tenets don't turn into squatters?