All Forum Posts by: Francis Rusnak

maintenance and cap x are going to be high on these. Prob higher than normal vacant n eviction issues as well. Can't be in a great neighborhood. Gl if u go for it. 

appreciate all the input basing it off of vague information. I'm working remotely and just got a rough estimate coming to me from a third party (real estate agent) who was with the potential prop manager. No work order was done and if my offer goes through then I'll be flying out for personal inspection. 

maybe I wasn't clear but it's estimated at 10k per unit and 8 units. Won't rehab until each of the units are vacant. 

figured I wasn't being specific enough, but am I in line with costs to just clean and make ready for next tenant (500-1k)?

From there, if we were to add value to increase rent, thoughts were to change out the flooring (add tile), update the kitchen cabinets and countertops. And a fresh coat of paint. 

I just got what seems like an abnormally high estimate of 10k to touch up each unit in a multi-unit complex when renters move out.

For background the building is in Columbus, Ohio and each unit is a 3bed approx 850 square feet. The goal is to bring rent from 675 to 750 and eventually 800/month. 

I was thinking a normal amount to touch up a unit after someone moves out should be 500-1k (about what a security deposit is). To upgrade and make the unit nicer would be a couple grand, maybe 3k. 

Am I way off on my estimates? 

it come a down to an individual preference. I've got about 1/3 in real estate at the moment but am looking to get up to the 80-85% mark. 

What is the best online source for finding these numbers? Zilpy.com seems to have some metrics similar to that, but only on their paid version and I haven't tried that yet.

How long have you been investing out of state and in Chicago?

I think Amanda Han from the BP podcast is from Vegas if I recall correctly. 

I've been told you need to put more money down (25%) and can expect a worse interest rate on a loan for investing out of state. If I got approved for 3.8 for in-state rental property, approx what can I expect searching for out of state?

Can you still do a 30-year fixed? Would insurance on the house also be more if I was out of state? Any other price increases for me to be aware of? Thanks.