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All Forum Posts by: Shanda Brown

Shanda Brown has started 10 posts and replied 52 times.

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18

@Ned Carey hey ned good to hear from you again. I agree, there is a lot more to go into it. She did say that asbestos was not confirmed so that is a relief. 

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18

I said heated by oil it is heated by wood

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18
Originally posted by @Chris Anderson:

clearly this is a gut rehab I can see that from the photos. And I am sure it will need updates to the hvac system. And probably new plumbing and electric. The offer would need to be very low for me to be interested and I am a contractor with my own crew. That much work would have to have a pretty good pay off to tie me up for a few months. I think J Scott is right 25 to 35 and you can wholesale it to someone.

Thanks Chris! You're awesome. 

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18
Originally posted by @Angel Dejesus:

hello shanda 

Word of advice take 2 people with you. That is my advice take a naysayer and take a contractor. Just one. That will ground you in making a decision. Also with its current situation it's time to play Priceline negotiator. It's a  game the rule is not to lose money. Low ball the hell out of the seller. But take a day or 2 after the exchange to fully understand the emotion in making the decision. Good luck 

 Hi Angel,

The plan was def to take two people but that fell thru as my coach had to go out of town and I couldn't secure another person to go with me. 

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18
Originally posted by @J Scott:

Obviously, it needs a full cosmetic renovation.  But, what about:

- Electrical

- Plumbing

- HVAC

- Foundation

- Roof

The pictures don't give enough information, and those are the things that will drive your budget.  If you could provide a scope of work, I could probably give you a ballpark for Baltimore pricing, but not just based on a few pictures.

 Hi there jay thanks for replying. There was a leak from the roof which was repaired recently per the owner. As for HVAC home is heated by wood so definitely need some work there, she did not report any electrical problems when I asked about them. The previous owner who is now deceased lived in the home until he died. Foundation is pretty stable expect for the back porch which needs a complete repair. Please also send me your info as I am looking to work with an investor friendly rehabbed for my but and holds. 

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18
Originally posted by @S Ong:

Please!  Shy away from asbestos problems ,,,, can kill you financially!  Besides,,,,,the margin on the purchase is not there!  After rehab, if you do not make 20% & up .... go to the beach ,,,, more fun, no costs & totally stress-free!

Thanks so much for replying. I was planning to offer no more than 50k. 

Post: Rehab costs help!!!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18

Hello,

I am pretty close to putting this house under contract for a wholesale deal but I am stuck with rehab costs. My coach won't be back in town until tomorrow but I wanted to keep the momentum going and make an offer adapter. Comps in the area are about 179k. This home needs a complete rehab and is heated by oil. Owner also mention that their was asbestos found in the ceiling of one bedroom. Any insight anyone can offer would be greatly appreciated. Owner was hoping that I could use last tax assessment which was 119k but that won't work...after I did my comps I requested them from a realtor and she provided almost identical info. The rehab costs are just the hold up. Home is 2br 1.5 bath. About 1280sqft.

Post: Ripping people off!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18

@Sean Cole thanks for your input. I am doing my due diligence to ensure I am well educated in the area of wholesaling. I am able to check off just about everything you added here and for the ones I have not mastered yet like rehab costs I have partnered with others who have that skill. 

I can imagine there are some people out here attempting to wholesale without gaining proper knowledge. That will not be me. Lol! 

Post: Ripping people off!

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18

@Aaron Mazzrillo thanks for your input...I'm a social worker at heart so I probably think a lot differently than most investors. I think there are ways to build trust and credibility thru marketing too... I plan to continue with this approach for now as my campaign has picked up some serious momentum so something is working

Post: Wholesaler vs. Realtor

Shanda BrownPosted
  • Baltimore, MD
  • Posts 56
  • Votes 18

@Tim Wilkinsongreat! thanks!