All Forum Posts by: Jon Davis

 Hi Tony, I am a direct buyer looking to purchase - are they still considering selling? Ideally cap would equal or be higher than debt rate. Would they consider selling via seller financing?

 Thanks Joshua, I don’t know anything about that market or have any contacts there. I think this would be a pass although thank you for the opportunity. 

Hi, I am an investor looking to add to my portfolio. We have 12 units over 5 buildings. Mainly looking for owners interested in selling via CD. I can act as a direct buyer so if any agent brings a deal they can rep me. 

Hi All, apologies for the delayed response. Ill provide a little more color here. The property is owned free and clear. I'd say the ARV is around $300K. The current layout is 3 beds, 1 ba although I'd add a bed and bath in the basement (if a new foundation is done) and there would also be a den area upstairs. The site is located adjacent to another family owned property and the lot size is fairly large for the east side of St. Paul at 12,000 SF (.278 acres). Therefore, no debt is needed on an acquisition. I would most likely use current capital to improve then refi out and rent. Not looking to flip the deal due to it being adjacent to another property.

@AndySabisch - The quotes definitely seem high but the foundation is right around 50'x25' (1,250 SF) and it is failing in multiple locations. I've received 3 bids and they are ranging from $90K (all cash) to $150K. These would include chimney work as well. Thereafter truly need full rehab (electrical, plumbing, windows, drywall, kitchen, bathrooms, roof, ect). Again only reason I am considering is because its free and clear and there is no value in selling the land for our specific purposes. Only reason I was considering moving a house onto it is due to the house being built in early 1900's and it needs a full rehab. 

@ChrisSeveney - No, looking to get in a rent ready form then rent out as a SFR. Good point on appraisal with new construction.

@AmberGonion - Great point and I didn't realize they would be around that price PSF along with spending that type of money in east SP.

Due to its age and further deliberating I may just proceed with demo so the vacant house extra tax will be removed from the tax roll and wait for either prices to come down on the rehab/contractors end or the housing market to stabilize to see where these ARVs end up in 12-24 months. 

Hi,

I own a vacant house in St. Paul that needs a new foundation and full rehab. The consideration is also to just demo the house and try to locate an already build new house to relocate to this property. The house has been vacant for years and the floors are not level due to the foundation. I’ve received bids anywhere from $90k-$150k for the foundation work.

So my questions are does anyone here know of a service that can relocate houses and drop them on a foundation? Has anyone taken on a project similar to this or has any recommendations on contractors/companies to assist?

Hi,

I recently purchased a duplex in South Saint Paul and I need to replace and exterior wood entry platform, stairwell and other misc woodwork outside. Can anyone refer a potential carpenter, handyman or contractor?

Hi, 

I recently purchased a duplex in South Saint Paul and I need to replace and exterior wood entry platform, stairwell and other misc woodwork outside. Can anyone refer a potential carpenter, handyman or contractor?

Hello BP forum! I am buying a duplex near Lake Phalen in Saint Paul and am in need of a reliable, trustworthy handyman that can do a handful of repairs including misc electrical (changing GCFI), misc plumbing and some exterior work such as scraping, priming and painting window trim, etc.

Does anyone have a good contact?

***zip in subject is incorrect, should be 55106.

Hello BP forum! I am buying a duplex near Lake Phalen in Saint Paul and am in need of a reliable, trustworthy handyman that can do a handful of repairs including misc electrical (changing GCFI), misc plumbing and some exterior work such as scraping, priming and painting window trim, etc. 

Does anyone have a good contact?