All Forum Posts by: Bryce Carafa

Also have opportunity to buy a similar type of deal. This would be my first Laundromat and seeing only the positives that it would provide.


What type of financials did you run when breaking down costs associated in deal?

@Damaso Bautista thank you very much i will follow this. Much apprecaited ! 

@melissa Thank you for the quick reply! This is helpful. On a different note, with renting out to tenants in mind, what upgrades do you find "necessary" compared to "nice to haves". Your comment about the fun light fixtures sparked the thought. I plan to add a dishwasher and W/D to the unit. Goal is to keep the rental for many years, so would like to have these things in order to offer more value and command a higher rent as they are not standard in my market. 

Hey John,

I am from Urbana and recently moved back after living in the short north area for nearly 10 years. I have been involved with REI for the past year and plan to make the Urbana area my baby in terms of both flipping and long term rentals. Let me know if you ever have any questions and I would be happy to chat and answer!

Hello,

First time posting and also first time investing in a property on my own without any partners. I am set to close on my first SFH on 3/22 and I am using a hard money lender to rehab the place and then refi with a local bank once it is ready to rent. I have my budget in order and want to have the place ready to rent in less than 60 days. My question for anyone reading this is, what are the very first actionable steps I need to take once I get the keys? The place will be cleaned out and ready to start renovations. Do I focus on getting the exterior in order or interior? Do i order my materials and supplies immediately? What do I not need to immediately order? House needs drywall work, painting, flooring all throughout the house, and other cosmetic fixes. My uncle who is a retired GC will be doing the work and my BIL will be doing all the electrical work needed.

Any help on this topic is GREATLY apprecaited!