All Forum Posts by: David Hodge

Amanda Moore I think your best bet is meeting with some locals like Dean above. There are wholesalers all over the place making money. It is definitely a viable business model. It's just hard to get going.

Amanda Moore what type of lists have you been using? And how many mailers per month? I'm assuming your hitting the same people multiple times.

I purchased from BuyMemphisNow. There are a number of very reputable Memphis TK companies that you'd be safe with. Since you live in Alabama though, you probably have a lot of nearby options if you're looking to cash flow. Most people investing out of state are doing so because their area is too expensive. I'd consider buying local and see if you can make that work.

Dean Letfus I agree. Management can only do so much if you're in a bad neighborhood. I have Curt Davis to thank for encouraging me to go with a nicer property even if the numbers on paper don't look as good as low end properties. I'm now putting 100% of my efforts into learning my local market. Plan to invest close to home but I'm sure I'll be buying more in Memphis sooner or later.

Dean Letfus ours is just east of the Fox Meadows golf course. Seems like a nice area. Hopefully it stays that way for a while.

Dean Letfus what parts of 38115 are good/bad?

Kevin Manz I actually told him up front that I don't currently need any work done and probably won't any time soon. I told him I'm just learning how to estimate rehab costs for my future rentals. He still gave me an hour of his time. He was truly just wanting to help out. He just seems to enjoy talking about roofs :)

Andrew Kerr thank you for clarifying that. Makes sense. I just got off an hour long call with a roofer in our area that broke all the costs down to every detail. He also taught me how he calculates the roof area using google maps and a slope calculator. He told me he's the most expensive guy in town but gave me pricing for the typical roofer around here... Apparently he's not strong in the sales skills. Feel like I hit gold meeting this guy! I now know more than I ever wanted to know about roofs :D

Thank you both. I have a call scheduled with a roofer I met a few months ago. I'll also call up a couple others to get a feel for what to expect. Appreciate it!

I just started J Scott's book on Estimating Rehab Costs. I love how detailed it is! Can someone help me understand a few things regarding how he calculates the cost of a new roof? On page 29 it says that Sheathing ranges from $30-45 per sheet then below that it says Roof Replacement for asphalt shingles is $150-400 per square. Does the $150-400 include the sheathing or do you need to add the sheathing estimate on top of the roof replacement estimate? Also, it seems like the numbers get skewed on larger homes. I calculated the cost of replacing the roof on my primary residence (just for practice) and ended up getting $21,000 using the formula in the book. I live near Denver and believe most in my neighborhood have been paying closer to $10k. It makes sense that a formula like this wouldn't work well on really small or large homes due to fixed costs. Does anyone know the range of homes his formula works well on? Thanks in advance!