All Forum Posts by: Savannah Leigh

3 Would begreat

3 was what iI paid to replace an existing oil w gas...with the baseboards in place. Maybe if iI shop..

true. there is gas here. could convert....but look at another maybe 50 grand or morein costs

my furnace/system installs average 6 to 8k per unit.

but alot of these tenants like electric because ppl is more flexible with payment plans

but...one more reason that its a deal i want to wholesale or pass on

30 Is leaving electric as is and offering a few all included and some separate utils

50 is split everything butwater

zoning is ok

500 is safer

Can someone walk me through the math? I'd love to wholesale this...or partner with someone.

I am ok w the 600 rents, my partner's number. I am more in the 500 average range.

3000k/mo gross fast. 4000 once the last 2 go online.

yes down to bare plaster, not quite studs

Yes 2 contractors. We all (3 of us) put it in same way.

Anyone want to buy this from me wholesale?
taxes 3600, insurance 2k, water 350,
50 per unit is sewer quarterly ballpark.

I do 30% maitenance and vacancy
10% mgmt
100/mo/unit profit and let the balance tell me my mortgage max, which is max offer

Comps (not many multis nearby) are 150 ish. For me (electric heat, unknowns on electric and water, one water meter) I would say 120 tops value...2 local investors agree

wilkes barre pa. nice, blue collar area.

8 unit building. 6 units are 1/1, 2 are 2/1

4 are ready to go. 1 minor fix, 2 moderate fix. all cosmetic

1 down to bare walls.

electric heat,

plumbing completely removed from basement. upstairs ok

6 meters/boxes. electric shared somewhere

rents plus or minus 600 when done.

needs about 1/3 of windows. rest new.
roof new. some minor water damage in 1 unit.

est 30 to 50k to finish. including electric split

owner firm at 65. im thinking 25 to 40.

am i off base?

thanks

scranton/wilkes barre/northeastern pa.

units can be had for 20k finished or less

rents from 550 to 900/mo

even financed and with 30 to 40 percent pad/mgmt, you still cashflow a couple hundred a month,

if i can find one...great. i have been sniffing around, and think i may have found thatperson.

just didnt have them before

thanks.

combination of reasons

1. i got the permit because city officials told me the 'rules are changing to allow this'. then rules didnt change

2. quality of every gc ive hired in the area is below my team.

3. cost of every gc would take a year or more of gross rents. simply better to suffer this time and buy outside the city next time. everywhere but scranton and wilkes barre anyone can pull permit

4. once i showed my face downtown...i politically had to

location wins. that said, good tenants dont want crap.

i have a great building, university area, but when i let the common area cosmetics go ...apts are fine...its a tough sell. fresh floor, new paint, different

mostly, thats me. i spend time in a showing explaining how we are ' a little behind now' rather than showing off the features.

welcome

i am shopping for an sfr or small rental i can buy for my sister, a dc govt manager.

let me know what deals you have in/near northwest. kinda corcoran/porter is ideal but anything good.