All Forum Posts by: Buck Dabill

Does the 850k repair cost included interior and exterior repairs? Seems like it could potentially be a solid deal. Have you reviewed the annual tax statement on this property? Taxes are an expense that is often overlooked by investors.

Thankyou

0 Votes

Billings, Montana

Quote from @Vincent Grossi:

It sounds like a pretty stellar deal. How are you financing the purchase and repair? That will tell you both your after-repair cash flow, your holding costs during the renovation, and whether you need to use that new ARV to refinance out at the end and get your capital back.

It might be worth running through the BRRRR calculator here if you haven't already.

Thankyou for your insight...i will do that

0 Votes

Billings, Montana

Quote from @William Costello:

@Buck Dabill is it zoned or can be multifamily? In addition, the rehab may cost more than 850K with additional things that may pop up. New roofs, plumbing, flooring etc. Deconversion projects are definitely exciting and have potential. Best of luck!

Thankyou very much for your insight...i am getting this from several investors.....these are just initial numbers we have more exact numbers coming in soon. What is a normal cost per foot for a complete remodel...we are going to take it down to the frame on the inside, outside just needs paint and a roof, windows and doors....hey thanks again, have a great day

0 Votes

Billings, Montana

I have an opportunity to buy an old hotel built in 1952 which has been vacant for 30 years. it is a 42 room hotel on one level 13,000 sq ft. Cost looks like 30k. repairs are estimated to be 850,000. we plan on turning it into 2 bed 2 bath apartments and some single bed single bath apartments. gross rental income would be 10,000/month. I estimate the ARV to be 1.5 million. The property sits next to the main road and has extra space to build a 8000 sq ft building if desired. Would this be a worthwhile investment. I have been a residential contractor for 30 years, this would be my first multifamily investment. Any advise or opinions would be much appreciated.

Buck

0 Votes

Billings, Montana

All Forum Posts by: Buck Dabill

Buck Dabill has started 7 posts and replied 24 times.

Post: Old Hotel into apartments, Should I buy?

Post: Old Hotel into apartments, Should I buy?

Post: Old Hotel into apartments, Should I buy?

Post: Old Hotel into apartments, Should I buy?