All Forum Posts by: Jay DeVore

@Remington Lyman

I would be forever grateful to have your sub-meter references as well. I'm looking for someone right now and struggling. 

Best,

Jay DeVore

Hi BP,

I hope you're well and having a nice new year. 

I've got a beautiful duplex rehab/flip in the Near East neighborhood of Columbus Oh. It's a "higher' end deal (will sell for $130/foot) targeting young well to-do professionals. I've got a GC doing the rehab but I'm responsible to provide the appliances (Fridge, Range, DW). The appliances need to be mid-level Stainless Steel. I was going to go to Ikea to get them. Where do you get your appliances? Do you use any novel strategies to lower costs?

Thanks for the help.

All the best,

Jay

@Andrew Pence Welcome. Glad you're hear. I do a little bit of investing and am currently working on a larger development project. I'm always interested in meeting other investors. Take a look at my bio and please PM if you're interested in getting coffee sometime. 

Best,

Jay

What @John Horner said. Great advice. Pay attention to the vibe. Your gut is correct. 

Also call their references and go see their previous projects. 

Welcome Bryan. 

Welcome @Brittany Menning. Good luck.

I've got a beautiful duplex, in a good neighborhood that I'm planning on selling in the spring. Let's keep in touch. 

Are there 3rd party websites that make searching the Sheriff's Auction in Franklin County, OH easier? I'd like to set up alerts, sort by price, sort by zip, etc?

Thanks,

Jay DeVore

Congrats Chris. That's a great neighborhood and I hope you do very well there.  My initial reaction to you post is that it appears as though your strategy is to put below market finishes into your unit. I'd advise against doing that, for when the time comes to dispose of the property you don't want to have to put more work into it to bring it up to the neighborhood standard. Floors, kitchens, and bathrooms are some of the most important elements in house quality perception. Again this is just my two cents. 

To really answer your questions let us know what your expected rent is going to be. We can better guide you on finishes as the expectations for $1/ft are much different than those at $2/ft. 

1. Lots of folks use America's Floor Source but I've had luck from Floor and Decor. 

2. Think about Ikea. Good cabinets. Good prices. 

3. Can't help you on this one.

4. As you identified, the costs depend largely on your plumbing system in place, ie how much of your existing house do they have to rip up and put back together to run the electrical, plumbing, and venting. Without more context, I'd swag budget it between $10k-$20k. 

Of course depends upon class, size, and location. I've seen very nice new downtown properties trading for about 6%. Check Loopnet.com for comps. 

Agreed with everyone else. Go with the grey walls and painted cabinets. 100%. Do this.