All Forum Posts by: Brian Brown

Hello BP family! Looking at an RV/mobile home parks and have a couple questions. First the big one if you can't work out owner financing what or who have used to finance one $600k. 2. What thing should I be looking for expense wise that may not be common knowledge that is special to these investments.

Thanks in advance,

Brian

So you read about cap rates especially for multifamily and apt. buildings and high cap brings higher risks lower price and vise versa. Well if you've got building for building everything is equal but are getting twice the NOI on one over the other which in turn would produce a larger cap rate wouldn't you want the higher cap?

36000/300000=12 cap

48000/300000=16 cap

Am I missing something. Are there any wholesalers out there that actually leave meat on the bone for the flippers. I see a ton of posts out there with something like (great equity in this property asking $250k only $20k rehab with a $350k ARV) Well with most using some sort of financing that $250k and $20k rehab is going to be around $25k in funding cost plus 8-10% selling cost so roughly $30k. So just in these two factors you're $55k into a supposed $80k profit.

What books does everyone recommend reading being in real estate investing.

Looking for a little clarity on the 70% rule when flipping. Everything I've read or watched about yet subject states buying at 70% below ARV then subtracting rehab cost equals your purchase price. Others state the same but also subtract the profit you'd like to make. Which is correct 🤔 if we are already buying at 70% below ARV is this not our build in profit?

@Patrick Bavaro Hi Patrick you say you are in a position to sell or keep for cash flow. What ate your numbers showing this property would cash flow just out of curiosity and my own knowledge, Thank You.

@Don Gouge yes that would work I could also sit down and create an excel spreadsheet but figured that there was something that was already out there others are using to get a much more detailed estimate of the rehab including, switches, outlets, covers, vents, lights paint, water supply piping...ect

@Mike Reynolds current property I'm looking at is from a wholesaler and rather than doing a general guesstimate I would like to break it down more itemized,... switches, outlets, covers, vents, lights, paint, faucets...ect. I could sit down and spend the time to do an excel spreadsheet but thought there gas to be one out and made there was a couple everyone preferred over others. We can all get a rough estimate of 15-20-25 or per a square foot but that's completely general I'm looking to get a truer estimate of actual rehab cost.

What programs or worksheets does everyone use for doing an itemized scope of work on there rehabs?

What does everyone use for an itemized estimate for the scope of work for a rehab.