All Forum Posts by: Dave Brumbaugh

Quote from @Andrea Kendall:

I'm just going to speak to the first half of your deal - I pulled comps (I have access to MLS) and I am seeing more around $275k, the higher ARVs have more sq ft. A lot of flippers have been lucky as of late because the market has been so hot that as the flip has progressed the appreciation has really helped their numbers, but I am not sure that is the case in Euless. Most of the homes sold recently are selling at asking - though still with low DOM. Does that make it a dealbreaker? Absolutely not. I would still flip this house.... if you're sure about rehab numbers. You mentioned you have experience in remodeling so I will leave that in your hands, but the house was built in 1961, which means you may be dealing with some larger ticket items that weren't listed in your rehab. And also, when we do our own remodeling, it tends to take longer and if you are paying interest that may not actually save money.

Hey thanks for the advice! I’m new to the forums and I’m super grateful of all the knowledge people like yourself can give. 

For context on renovation experience I’ve worked on my fathers house built in 1970 and I admit I left the rehab timeframe too short considering I’d be doing most of the labour. 

And not having MLS access yet (getting my license currently) is a bummer as I am finding comps years behind the curve. Current data is crucial to number crunching and I appreciate your input, will definitely give this more thought - thank you so much!

Hey Everyone; Needing help to analyze this potential Fix'n'flip or BRRRR. I took advice from the previous reports I had done and picked a much nicer neighborhood with decent comps and rental rates. Below is a deal that I would be paying for in cash; the property is need of an updated kitchen, new floors, paint, and 2 bathroom remodels and a general facelift for curb appeal. I am estimating about 30k cash for renovations as I have experience in remodeling and expect to do a majority of the labour myself. My overall budget is 210k, I expect to close on the property for 170k, 30k reno, 5-6k closing costs etc.

Average comps for a 1200sqft 3/2 run about 285-305 ARV with a healthy mix of renovated and untouched properties. The neighborhood has had a fair amount of movement and improvements and property values are on a steady rise.

I'm trying to gauge if this is a good deal or not; AVG rents for a 3/2 in Euless are 2200 and I expect a minor amount of cashflow in the report. Cash for purchase and reno, expecting 4.2% on a 30yr refinance with self managed property. Let me know where I can improve in my reports 

Thank you! - David B.

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

Hello All, Needing help identifying possible deal here; 2/1 property in South Dallas in GREAT distress. I have a budget of ~150k total for this venture and I estimate about 55k in rehab costs excluding any work done myself. Its in a pretty rough part of the city, however based on the nearest 2 comps, ARV is listed at 192000 after reno. What would the recommendation be for this property? This would be my very first investment to try and BRRRR. Report below; please let me know where I can improve in my report, I am new to the BiggerPockets forum.

Thanks! - David B.

View report

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