All Forum Posts by: John Tran

You should check out the book on estimating rehab costs. That should help you get an understanding. Otherwise, that typically comes with experience. Tough to find a one size fits all formula.

Feel free to PM me if you has specific items you are talking about and I can tell you what I have seen or paid (if I have).

Ah okay, that makes sense! I just for a property under contract & going to set up a walkthrough to take some photos. I’ll more than likely reach out to you if I have any questions on specific items. Thanks for responding!

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Originally posted by @Sean Sloop:

Hey John, what do you mean by formula? Like cost estimates? Even within Michigan you would find a difference in costs likely between the different regions and cities.

Okay, got it! And yes, I'm referring to a formula that give you a ballpark estimate of the rehab cost. What's the best way to get the repair costs without using a contractor? Just curious?

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Hello, does anyone have a rehab estimate formula for the Michigan Market? I know that repair costs are different for every market, so I was wondering if anyone uses a repair estimate formula that has been working pretty well for you. Thanks in advanced!

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Originally posted by @Nathan Herline:

@John Tran that is a really good area to invest in. For 2.5 acres I would expect to 5-8K an acre. If it has utilities ran to it, I would expect 10K an acre.

If it’s downtown Lansing, double it!

Awesome, I got it! Thanks so much for clarifying that for me!

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Originally posted by @Nathan Herline:

Hi John,

Do you have a location? Land is seriously dependent on location

Hey Nathan! The location is in Lansing, MI 48906

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Hey Nathan! The location is in Lansing, MI 48906

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Hello guys, I was wondering how much would you guys pay for a piece of land that is 2.5 acres in Michigan?

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Hello, BiggerPockets members! My name is John and I'm a brand new real estate investor. I am wholesaling virtually and I've chosen to invest in the Michigan market. If there is anyone in the Michigan who would like to connect, feel free to contact me and hopefully we can build a long term working relationship. I'm looking forward to meeting all of you!

Also, if anyone has any advice or suggestions on what to look for when entering a new market, I would really appreciate it if you'd share it with me. Thank you!

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All Forum Posts by: John Tran

John Tran has started 8 posts and replied 18 times.

Post: Michigan Rehab Estimate Formula

Post: Michigan Rehab Estimate Formula

Post: Michigan Rehab Estimate Formula

Post: TO ALL BUILDERS AND DEVELOPERS

Post: TO ALL BUILDERS AND DEVELOPERS

Post: TO ALL BUILDERS AND DEVELOPERS

Post: TO ALL BUILDERS AND DEVELOPERS

Post: Nice to meet you all!