All Forum Posts by: Dustin Forney

Quick clarification...u show an arv of $275k but don’t show any money in repairs. Won’t change much of ur financials, but good to get it all covered. Looks good tho!

I'm in Whitehall and would be happy to help make an event happen if we think there's enough interest!

I’d be surprised for the structural repairs to run that high. I’m rehabbing a home now with foundation issues and rebuilding 3/4 of that with block wall is $12,500. Also we raised the ceilings in the upper level to 8’ from 7’ and had to add all new ceiling hoist and collar ties for about $5k. If you have time, a quick quote might help with the decisions. Good luck!

Macavage Financial Services...guy is great!

Great info! I’m familiar with the area (lived there for a few years), the growing college scene should work out great. I’m also considering the new build route, as like you said, the deals seem few and far between. Thanks for the numbers!

It's an old block basement. Basically here we're never any gutters on the home and the grade of the landscape did nothing to help funnel water away. It's our first rehab and I want to do it right. Just didn't want to wait that long to begin work on the interior. Thanks for checking in btw!

Morning all. I was hoping for some input on foundation repair. Bought a SFH with bowing basement walls knowing they needed replaced/repaired. 1 option is replacing the walls but they are booked until July! We can have a basement repair "system" put in within the month, but it's more expensive and I'm not sure how potential buyers would view that. Anyone dealt with this in the past or sold a home after having a repair "system" put in? My thought is to wait til July, but that's a lot of holding costs, and I worry about it ending with sticky windows, cracked drywall, etc after the new foundation is placed. Thanks for any advice!

Thanks Michael! Happy to have input from someone more experienced than myself.

Hey guys just looking for some feedback/opinion. My wife and I looked at a multi family this weekend and are on the fence about purchasing it. It's $110k, 3 units, collecting $1650/mo. Puts it at about 1.5%. It's a really solid/stable area, in a good location, that's just off the Main Street of town. Biggest issue is that for our standards, the place is a mess. Looks like a lot of work to be done to upgrade the units and get higher quality tenets in them. We would be able to raise rents to total about $2000/mo after renovations tho, we suspect. I would ballpark the repairs/upgrades to be about $6k/unit, with roughly $5k more going into exterior repairs/upgrades. I've done a lot of remodeling myself over the years (lucky to have a dad that's a great builder!) so the repairs aren't a big deal to me, but I'd like input as to whether the numbers make sense. Thanks for the feedback!

South Haven is a beautiful area. Solid local economy from all the year-round residents with a strong seasonal economy from tourism. Amy Sullivan is a realtor I'm familiar with out that way. Just try to keep your properties close to north and south beach, those are the high traffic areas for vacationers. Good luck!