All Forum Posts by: Account Closed

Thank you for your feedback Michael! It looks like I need to spend more time learning about rehab costs so I can provide better information in the future. If you are a member of Upstate CREIA I will be happy to chat at the monthly meeting in January if you are attending. My focus right now is paying off my bad debts but if a good deal, like I thought this was, comes through with the right numbers, finding a partner, private lender, or other form of creative finance is the only way for me to purchase an Investment Property.

Thank you for the feedback Nick Shri. I have an Analysis Focus Group with my local CREIA on Jan. 5 in which they can see the pictures and provide me better Rehab knowledge (my full gut rehab is probably over exaggerating) . Will the J Scott Estimating Rehab Cost book still be a good source in todays costs?

I am a brand new investor and I came upon a potential opportunity in Greenville, SC.  Due to me focusing on decreasing my bad debts, I will have to present this opportunity to a partner who has the financing. It is a 5bd/4ba with 4bd/3ba on main floor and 1bd/1ba in basement.

Here are the estimated numbers:

   Purchase Price: 230,000-250,000 (Listed for 280,000) 

  Full Gut Rehab: 100,000-120,000 (I have never done a renovation before so I am just guessing high)

.  Refinance: 400,000-420,000

.  Rent: 3,500-4,000

I would prefer to BRRRR and hopefully house hack after completed as my first option with a fix and flip second option.

My questions are how should I present this investment opportunity to a potential partner and what ideal type of partner should I find?

Thank you for any help that you can provide.

Jake Fenton

I am a beginner investor and attending my first local CREIA Meeting this month in Greenville, SC. Any tips or advice to grow as an investor at CREIA Meetings.