All Forum Posts by: Ed McIver

Thank you all for your insight.

I do not have any experience with 3 or 4 bedroom apartments. For you experienced land lords out there. What problems come with larger apartments? What is your preferred apartments size and why?

Thanks

My friend has been working in real estate for 20 years. But always as an employee conducting settlements. Recently she has lost her job and has fallen on difficult times. Now she conduct settlements for a few attorneys once in a while but does not have steady work. Right now she travels to the homes of borrowers to conducts the settlements. 

So the question, is there any demand out there for an independent settlement coordinator? She is not looking for a 40 hour a week job. But if she could do 10 settlements a week it could really help.

All opinions are welcome.

Thanks   

Yes it helps. These numbers are higher than I expected. I'm sure this post has saved me form a big mistake.

The deal is dead. We could not agree on a price. 

Thank you all very much. This will be our first flip. I have allot to learn. 

Hello 

I want to flip a house. The ARV on the house is about $260k.

I have a pretty good idea what the rehab costs, closing costs and holding costs. I do not know the cost to resell the property.

I have never sold a house before so I intend to use a realtor. How much money should I budget to pay the closing and realtor fees?  

I am tempted to walk because I'm investing 29K of cash into a deal that is fair. It is not amazing. If I do this deal I will not be able to an amazing deal because I will not have enough cash.  

This is the deal as it is right now. The property is a 100 year old duplex. 1 side is renovated and the rent is at market price. The other side is not renovated and $450 below market price (per month). The property also has garages If I purchase the building I will rent out for additional income. ($100 each x2 garages = $200)

If I purchase the building I will increase the rent $200 on the below market apartment. If the tenant moves out I will renovate the apartment to bring the apartment to a  full price rental.

So I think I can increase the rental income by $650/month. But I have run these calculations as the building is right now. I have offered him $110.K  He is insisting on 125K. 

I am inclined to walk away. What do you think?   

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*This link comes directly from our calculators, based on information input by the member who posted.

The area in question is algae. It is on the north side of a building in a shaded area. The bank has backed off the need for an environmental assessment. Thanks for your rely