All Forum Posts by: Account Closed

Hey guys,

I'm working on a project house to put up for rent. It's a 3/1 925sqft house that needs a ton of repairs. I got quoted for 12.5k of repairs incl materials to do the following:

1. Install Vinyl plank floors throughout the house.

2. Install a new dry-wall ceiling 

3. Paint exterior and interior completely

4. Plumbing repair and replacement of kitchen and bathroom hardware

5. Refinish tub and tiles in the shower

6. Install 5 new doors with frames for rooms and install doors for closets on three bedrooms.

7. Do some roof repairs.

8. Install new light fixtures throughout the house

9. Paint and repair kitchen cabinets.

10. Add blinds on all windows

11. Replace sockets and light switches throughout the house.

12. Some general TLC

13. Haul a broken fridge and stove.

14. Seal some exterior parts of the block foundation which is cracking

15. Repair a broken window, reseal other windows that show signs of leaks/mold.

The contractor says he's gonna do a bunch of other extras so that the house will look and feel good. I had experience with him in the past but it was for lower ticket repairs. I'm concerned this time I'm a little overpaying.

What do you guys think ?

אהלן יפתח!

Also interested in the Indi market and also from Tampa! 

No answer for you here but am following this thread. 

Thanks for the response Mark. I just sent you a connect request. It's a small world after all, I'd like to message you about something 

I recently started reaching out to sellers I had previous deals with to see if they have something interesting they are looking to let go of.

One of the persons I reached out to says he has a SFH to offer in Jacksonville, FL. Since I'm located in Tampa, Jacksonville is an uncharted territory for me so I would be happy to get some input from locals there.

The property is located in the Riverview area (zip 32208) it's a 2/1 Block freshly renovated and looks from the outside and inside in beautiful condition. The seller is asking for $69,000. My intentions are making it a rental and enjoying the cashflow. 

I started running the numbers by reaching out to a couple management companies to understand how much the rental goes for. Only one company responded and estimated it's ±$790 a month. A rough estimate would net me about 8-10% a year which isn't that great but also not too bad.

I'd love to get some input from locals in the Jacksonville area how is Riverview and if there's appreciation potential there. Once I gather enough information I will travel to check the property out.

Thanks!

Hello BP community!

I have been investing in cash flow properties in my area for a while. Prices here in Tampa have gone up and I can't really find a good deal anymore so I'm looking to start investing in Indianapolis. 

Before I start, I'm looking to build a team of professionals to work with and the first on my list is a realtor. I've composed a list of my expectations from a Remote Investor Friendly Realtor and I would like to get your input on any additional expectations you may have when working with a realtor. 

Mine are:

1. Has an understanding of the city - which neighborhoods / streets are good or safe to invest in and which are not.
2. Which areas have best value in them, which are up and coming.
3. Has an understanding about what the rent goes for in specific areas.
4. Has access to properties that are not always listed in MLS.
5. Pro-active on new properties that hit the market.
6. Willing to look at a property and take additional photos for the investor.
7. Willing to work with the investor's inspection service

So what are your expectations ?

My friends wouldn't want to live where I rent. But even if they did I would kindly decline. 

What is the advantage of using a turnkey company over searching a property by myself or using a realtor and after the purchase using a management company to find and place a tenant ?