All Forum Posts by: Jim M.

What do rehabbed homes sell for in the area? What is the size of the home? Have you had any contractor quotes as of yet? Any experienced rehabbers from Erie PA or nearby that could help her?

Will, we have the same taste and the tile in your bathrooms look like a rehab I recently did. Good looking home. Anybody put mechanized chair lifts from street to front doors?

You need a contractor that understands the investment side of the business and the long term relationship.

I have a deal here in Charlotte I have under contract and closing before Dec 21. Just actually realized this marketplace existed on BP! I have a hard money guy I can use to fund the deal but perhaps there is someone here who can give me better terms? This is a BOA shortsale I have finally gotten approval one as I've had it under contract since July. Has been a pain in the...

This home is in the Wesley Heights Historic District here in Charlotte. Purchase price is $67,500. Rehab around 90k which includes moving the home from the rear of the lot to the front in line with neighboring homes, adding about 300 sq feet on the rear of the home to bring it to 1500 sq feet and a total rehab of the home. I have gone through the historic district approval process so that the home may be moved and the sq footage increased. Total all in should be better than 160k with a arv of somewhere between 225-250k. 1300 sq foot rehab sold for 225

I have a great contractor that I have done or am doing 7 large rehabs with budgets from 50k-200k and sales prices from 165k-479k this year. I will most likely use my lender for this deal as it is a quick closing but perhaps I could connect with someone on here for a future deal! Look forward to hearing the feedback.

Be careful, if you're gonna put offers out there be ready for one to be accepted and make sure t's are crossed. They may say something about the funds not being in your name as well.

Basic and to the point

He used the Learning Annex to promote his company and agreed to give a percentage of his sales for compensation. Instead he pockets the money and hides behind the corporation. Not looking at the details perhaps the original amount was only 8-12 mil and the jury awarded damages. He screwed his partner.

I use my own personal account for POF and use my private lender to finance the deal. I have yet to have a bank say anything when it comes to a closing but I am sort of expecting it at some point. If the money is in my attorney's account a day before closing I hope the bank wouldn't cancel the deal.

I'm assuming this is in a low income area? 425 per month tends to be in that type of area so your expense will most likely be a bit higher. Higher vacancies and non payment of rent, people that may not care about taking care of the unit. Check out the 50% rule and your cap rate will be down closer to 10%.

http://www.wsoctv.com/news/news/local/home-buyers-spending-more-home-prices-rising/nSSbM/

This is a property I rehabbed and sold here in Charlotte with purchase to close in about 6 months and a week. It was gutted down, completely rehabbed and a bit of square footage added with the two front dormers you see in the video. As the video shows it was the first house in that neighborhood to sell over 300k in four years. It would have been nice if the local news station would have contacted me or my agent(they listed the incorrect agent as selling the home) about this home but I have emailed them if they would like to do a more in depth story.