All Forum Posts by: Dustin H.

Comcast/Xfinity charges a lot more for an account in a business name vs a personal name

What do people do with a large STR portfolio in one city? For example, 50 separate addresses in one city - do you create an account for your personal name in each location, do you pay extra for business accounts? Have you been able to work out some kind of bulk deal with Comcast commercial?

Thoughts?

Our roofer gets a flat pricing discount on all his shingles, like $58 per square for architectural Owens Corning Duration (really cheap price).  I wonder how considering pro tip #1?

 No, in the south.  NY too tenant friendly for courthouse step purchases unfortunately.  Maybe up state is different but def in NYC not really feasible for our business model.

A lot of people replied but just giving you my numbers - we had 89 flip closings last year and averaged about 10% after all closing costs.  This figure includes project manager and field super wages.  Average hold time whole flip portfolio was 107 days.  

The average figures all in were about $168k purchase price and $15k rehab cost.  We decided that in cookie cutter neighborhoods, appraisers just don't give you enough credit for your upgrades so it's better to patch and paint and sell for a cheap price and turn your money faster instead of trying to shoot for the moon. 

I think flipping is very risky unless you have the means to do at least 1 house per month.  Our average is 10% over a lot of properties, with some losing 10% or more and some making up to 30%.  

We also had about 50 new construction closings and these make around 10% net as well, again about 90 days from permit to closing. 

On a leveraged basis, I think flipping and single family new construction is a good return but when you take taxes into consideration, I think that in all cases except high end houses, rehab to rent is a better strategy.  For example, on the new construction we make about $20k off a $200k house, but we can rent that house for $1,800 with a low expense ratio (since it's new) of 25-30%, making $15k in one year off rent, and still having the $20k of equity profit when we sell.