All Forum Posts by: Chip Cook

For OZ investors....I'm selling 2 SFH properties in the same OZ in Idaho. Cash flowing. I BRRRR'd them and didn't know about the OZ benefits. Now, I'm looking to turn around and reinvest in the same area. Hit me up if you want more details. Gross rents are $2600/month with rental contracts through next year.

For any OZ investors.....I'm selling 2 SFH properties in the same OZ in Idaho. Cash flowing. I BRRRR'd them and didn't know about the OZ benefits. Now, I'm looking to turn around and reinvest in the same area. Hit me up if you want more details. Gross rents are $2600/month with rental contracts through next year.

I'm selling 2 SFH properties in the same OZ in Idaho. Cash flowing. I BRRRR'd them and didn't know about the OZ benefits. Now, I'm looking to turn around and reinvest in the same area. Hit me up if you want more details. Gross rents are $2600/month with rental contracts through next year.

Selling 2 cashflowing SFH's as a package deal in Idaho. One property is ripe for new construction of a 3-4 unit MFH.

I bought these two properties as a BRRRR and having very solid success in this small market. Both properties are cash flowing and with great renters. Unfortunately (for me) I discovered too late these properties are in an Opportunity Zone (OZ), so I am unable to take advantage of incredible tax benefits. So, I'm looking to sell these 2 properties to an investor looking to take advantage of the benefits of this OZ. I then plan to turn around and properly structure to take advantage of the benefits of the OZ.

Description:

Property 1: 1000SF. Rehab complete.  Currently on month 3 of a 12-month lease for $1500/month.  Lot size: 6,969 s.f. (Currently comps out at ~$240-250k)

Property 2: 720 sf. Rehab complete. Currently on month2 of a 12-month lease for $1100/month.  Lot size: 6,250 s.f. **$$$ This property is zoned for multi-family and can easily hold a 3-4 unit MFH that would gross $5-6k month.  (Currently comps out at ~$150-160k)

Both of these could be a solid investment for a SFH investor or a 1031 exchange.

*This link comes directly from our calculators, based on information input by the member who posted.

Pretty excited to see my first deal end in a success. Lot's of lessons learned, but overall, a positive.  

Bought the fixer upper in August. 

Contractor took too long and had some delays, so house has been vacant the entire 6-month period. Did a complete interior reno (new windows, doors, wall texture, paint, base, case, redesigned bathroom w/ all new fixtures, new kitchen w/ all new appliances, new flooring, paint, fans, lights), and new roof

House  appraised about 100k over purchase price, allowing me to see inf% cash-on-cash return on this one. Pulling out all my equity and onto the next one.

Advertised for rent starting yesterday, at $200 above initial estimates. Property manager already has 5 applicants.

Yard spruce up in the spring once everything thaws.

Great advice everyone.  Finally had a heart to heart.  The contractor is set on making it right and is full effort on my project till completion. I've give one last chance.

He's done a lot of work for 2 close friends, neither of which have dealt w/ this level of frustration.  

Just need to get it on the market and rented out ASAP.

Please help!!! I closed on my 1st BRRRR project in August. Hired a contractor and laid out the project. Got formal bid and have gone over the details. I paid him 1/2 of the estimate up front ($15k).

It's only about 1000 sf small home, but the guy has made little to no progress on this project 3 1/2 months later...with no end in sight.

What FORMAL actions can I take against this guy?  W/ the state (Idaho)? City? County?  BBB?  Any tips or ideas?