All Forum Posts by: Jared Sawyer

Fantastic, thanks for sharing!

Analyzing a deal with 9 duplexes on 9 different lots.  Any feedback would be awesome!  

https://www.biggerpockets.com/calculators/shared/4...

12th Street Project Costs
updated 3/9/17
Structure and Site	Price each	qty	Total
The Pines traditions HVAC	190,401	9	1,713,609
Painting (not quoted)	10,000	9	90,000
Land	33,333	9	299,997
		0
Site Development (Crestline)	30,000	9	270,000
Retaining wall in back	7,000	9	63,000
($35-40/sq ft. face)		0
Landscaping	5,000	9	45,000
Sidewalk	20	570	11,400
Driveway $4/ sq ft 12x40	1,920	18	34,560
Building fees and SDC charges
Building Permit city	105	9	945
Building Codes permit fee	2,553	9	22,977
Chenowith Water SDC	4,760	18	85,680
Plumbing inspection	383	9	3,447
Electrical Inspection	168	9	1,512
Mechanicical Inspection	95	9	855
PUD connection fee	300	18	5,400
Sewer connection fee	1,789	18	32,202
Storm water connection fee	342	9	3,078
Transportation fee	1,500	18	27,000
Parks & Rec fee	1,552	18	27,936
School ($1.23 x finished sq ft.)	1.23	21816	26,834
		TOTAL	$2,765,432
Cost per door		/18	$153,635.09
Cost per building		/9	$307,270.19
Other possilbe costs
Loan Origination fees 1% of loan	$2,765,432	0.01	$27,654.32
Appraisal	800	9	$7,200.00
Title fees	950	9	$8,550.00
	estimated closing fees	$43,404.32

Why does the bank care what you use a heloc for? You should be able to use this type of line of credit for anything.

The bigger pockets calculators are a great tool for analyzing properties quickly. The 2% rule is not realistic in my area either. I think of it as one tool in the tool box to give me a quick snapshot of a property. If a property did come along that met the 2% rule you would know immediately to move quickly.

Net worth on a balance sheet would be a snapshot in current time. Just because you may eventually pay the loans down and have an actual net worth or $1m doesn't mean you have it today.

Welcome Brittney Mosley !!!

Great advice from Percy N. I agree completely. Start there, figure out what niche you want to focus on then dig deeper in that area.

I think you are correct about the bath tub, you would appeal to a larger group of people.  Renters that would only use a shower wouldn't care if it was a shower or a tub but renters that would like a tub may keep looking for a different property.  

Welcome!

I agree with the folks saying to drive a beater.  Sell the car and go all in on real estate.  Don't use debt to buy a liability.  Leverage debt to buy assets that cash flow.