All Forum Posts by: Ilona Davidovich

Thank you everyone! I will contact everyone you suggested through private messages. 

@Yonah Weiss Do you only do cost segregation for people in FL?

I have been using the same accountant for a while and he sold his company to a new guy who is so confused and has no idea how to properly file real estate tax things. I am currently on an extension from last year and am hoping to talk to someone who is knowledgeable specifically with filing taxes for real estate investors and can actually give some insight on how to set up for the future.

I am also looking for a real estate attorney who can guide me on how to properly set up my companies, legalities etc. Business is going great and I cant keep expanding without having legal help to set up properly in the future. 

This is a block fantastic flip, I cleaned it out and its ready to be rehabbed for a great profit. It needs a new roof, AC, kitchen, bath and some floors depending on your style ( 1 bedroom has dark brown wood floors and the living room has bamboo flooring.) For a rental I would leave them. It has a garage and a huge shed in the back yard.

ARV is $200k - $210k depending on your grade of remodel.

Rent is $1,600 easy.

Will post more pics an a few hours when guys finish cleaning out the trees. 

I bought this home in Auberndale its a great flip but I am willing to let it go before hand, its ARV is $125,000 I already have a quote to do everything inside the house for $16k because its so minimal. I already cleaned out the property and put a new roof and AC on it.

Good flip, should be able to do it fast only needs laminate put on top of tile, one new bathroom re done, cabinets re surfaced, add some doors fix some drywall and paint. 

3 bedrooms 2 bathrooms, 1 car garage, frame home

1,418 sq feet under air, total sq feet 2,060

This home has a large Florida room in the back that can be converted into a 4th bedroom easily.

ARV : $140,000 + depending on grade of remodel.

Asking: $65,000

Rents at : $1050+

This house needs:

Septic system replaced $7,000, if it needs drain field then $11,000

AC fixed $1,000

Landscaping $500

New garage door $1300

Kitchen $5000

Floors in half the house $2,000

Both showers can stay in my opinion, so bathrooms $700 MAX

Paint inside and out $4,000

Appliances $2,000

There is a hole in the backyard where the previous owner dug an above ground pool into the ground cost to fill should be under $5,000 if you hire out

Rehab total : $28,500-$32,500

Safety net $3,000

You should be able to go above and beyond for $35,500.00 Total rehab cost.

These are my numbers they are estimates do your own research.

Comps:

12380 EASHA BLVD, PUNTA GORDA, FL 33955

12321 GASPARILLA AVE, PUNTA GORDA, FL 33955

12233 MARYLAND AVE, PUNTA GORDA, FL 33955 --- $118 a sq foot!

All of these comps actually put the house above $140,000 ARV

Pictures are below. Let me know if you have someone interested, add your commission if you want to sell to an investor.

I have a lock box up let me know if you need access.

So I have been rehabbing houses for a few years and I have never had a problem selling my houses as I don't overprice them and would rather sell quickly. I am a realtor so I do put everything on MLS and all other usual outlets (Zillow, Redfin etc) I don't think my issue is the quality of the work or the design as I use the same crews and the same palettes on the same types of homes I hAve always done. I haven't changed my formula therefor I just can't figure out what is going on as my houses aren't even being shown. As a realtor I can't say I am up to date with current processes nor do I work for a big company that provides classes.

Is anyone else experiencing issues with days on market or lack of showings since the hurricane? Is it just me? 

@Kyle Doney @Lee V. I already have two seperate electric meters and boxes. I was speaking to a fellow investor recently who said he did it for under $1,000 but this was in Lehigh Acres so the costs could be a lot lower in that area. 

I need to inquire in my specific area before making assumptions. 

I just bought a duplex with the same problem, the previous owner had the tenants adding $50.00 to the rent each month to cover the water bill and had it billed to himself. I find this stupid because the utility company told me the average spent is $175.00 which is also an insane amount of water. 

One of the duplex sides has 2 adults and 3 kids living in it and the other has 2 adults and 1 child so it's not fair to split the bill down the middle. I am just waiting out the leases to the end then putting up another water meter, that way new tenants will have a good set up, old tenants won't refuse to pay me bc of the clear increase in billing and the re sale value of my duplex will be better when I do decide to sell.

You'll never win with the tenants because they'll always argue they owe you less for utilities. 

Thank you everyone! I successfully pulled out 100k with after all the fees and points on this property by using delayed financing . @Jim Blackburn @Andrew Postell 

My mortgage payments are $988.00 and my rent income on this property is $1600 a month so I am pretty happy with how it worked out. 

@David Dachtera Thank you for the advice! I will start moving all the houses into that direction so I can sell "the business"within the year! @Patrick L. Thank you I will look into those management software and set them up before trying to sell anything.