All Forum Posts by: Kenton LeVay

If he is going to make money with the sale and has no interest in managing/paying someone to manage the property because he is more interested in small multifamily, I'd say it's best to sell. Follow the fire!

Following this thread!

I mean, if you plan on doing the work yourself, I'd go for it. It's hard to lose money when you're doing it yourself because your costs are so low. Even in your worst case scenario, you still make nearly $20k on the sale.

$630k * 94% (assuming 6% for agents fees) - $508k (purchase price) - $65k (reno) = $20k

$20k / ($18k + $15k + $65K) = 20% ROI, which is still very solid. When you throw in the fact that these are likely conservative figures and you also get a place to live, it makes sense to pull the trigger.

Check out Chris Leon from Leon Home Repairs. He did a ton of work on my property and he's a true professional.

I recommend Home RenoVision DIY on Youtube (https://www.youtube.com/channe...). The channel's host, Jeff Thorman, was a guest on episode 399 of the BP podcast.

Interested in this thread as I am interested in buying in central/eastern North Carolina!

I use Cozy with no issues. Maybe I was grandfathered in but I don't know why apartments.com would rebrand Cozy if they bought it...

Nice work! I could have used your helping hand in my own reno ;)

Nice deal! Fayetteville is so great for rentals, congrats Clayton!

Yeah I'm sure people lie about that stuff all the time, which negatively impacts the lender. I would imagine a signed lease, showing a tenant will be moving into your SFH when you move out would help the lender feel more comfortable with the fact that you're honest in your intention in moving into the multifamily.