All Forum Posts by: Cody DeLong

@Timothy Swenton Milk Street Capital in Portland.

@Shawn Ward That is still pretty good! How much did you spend on the other bathrooms?  I'm trying to get my costs together for a rehab up here in Maine and trying to figure out averages for pricing on the bathrooms.  The rest I have down but I haven't had to significantly update one yet.

@Shawn Ward this looks amazing. How much did the tub win tile run you?

@Michael Noto pictures aren’t showing for me

Closed on the property today. All residents have been served papers for the transition to new property management. I’ll have quotes end of next week for landscaping, new sign, and switching over to coin op. Was told at closing one resident may not be staying much longer so I’ll have my first turnover. Sort of a bummer as she was a great quiet tenant and had been there for 8 years. Good thing is the turn over will be easy as her apartment when I was in it was immaculate.

Closing tomorrow. One thing that is frustrating is the work I needed done before closing was not done. The seller is an acquaintance so we’re drawing up a separate contract. I know he will have it done just sucks that he had 3 months to do it. Either way it’s not the end of the world they aren’t things that are hurting at all (redo a deck and paint one back wall of a building). Signed on property management as well at a great rate of only 7% of gross rents with only half of first months rent for any vacancies filled. They have been great already and we have a plan moving forward with updating the curb appeal and trying to softly get rid of smoking. I’ll update with more photos tomorrow at my final walkthrough.

Finally got the appraisal back. $297k appraisal. Already have some built in equity from the start.

Yes I have. It needs some work for sure. I know all offers were due on Friday but with the holiday I’m curious if any were even made. I feel the problem with it is it’s. 3/1 and then an efficiency. As a buy and hold I’m not sure it makes sense numbers wise. As a flip it could work but an owner occupant would be your target buyer. I’m a buy and hold investor so a flip just didn’t fit into my whole plan.

also yes private money or hard money would be the only way. 

You’re talking about the one on grant street?