All Forum Posts by: Kishia Ward

Hello all!

So I have a potential deal in west palm I'm trying to figure out. It's a pretty old two-story home (no central A/c) situated in the corner of a large lot that can be split in to two and/or another property can be built on it. ARV for similar homes currently is $170k but those homes are not up to standard and single story. The bottom is renovated, roof is new as well. The top floor needs some finishing with the potential to turn it into a separate unit. I think this would make a great rental/rentals. So here are the stats:

I’m estimating repairs of $36k-$40k

ARV $175,000 - $200k (but has potential to build another property on land-owner made sure it was possible)

It currently rents for $1000 on the bottom floor only.

It seems like a great deal to me, but I would love some more seasoned opinions! 😊

@Robins Dorvil

I’m in your same boat! :) I’m looking for lenders - hard money and transactional funding. I don’t know if too many banks but if I come across something I’d be happy to share resources.

Hello,

I was wondering if anyone located in palm beach, ft Lauderdale area has recently done a flip (for a rental) and can assist with repair costs for the area? I appreciate it!

Thanks! Just found out they also owe 400K on the property but it's fully renovated.  They are currently renting it out. 

Thanks for the feedback @Wayne Brooks @David Sicherman

Hello,

I possibly have a deal in WPB About 10 minutes south of City place area - near the Zoo etc

The ARV is around $355,000

its a 3/2 - 1655 sqft

Repairs: 15K

Selling for $300,000

previous rents:$2,300-2,600

Recent Comps in the area are in the $320,000's with no one completed.

@JD Martin

Usually the city provides large cans but I would call to see if there is an alternative if it’s 4 units with two levels. if it’s one level then this model still makes sense since their trash and recycling is included. You can just specify the amounts and what it includes for them or what I’ve done is include water in the rent up to a certain portion (added to the base rent price) and anything over they are responsible for. It’s essentially a water allowance/credit and the rest was tacked on to their rent in arrears.

Hope this helps!

@JD Martin

Hey I’m from the area and if it’s City water they charge water, sewer/wastewater, storm water and sanitation in the bill. Couple those with the taxes, service charges and usage could be why it’s so high. WPB utilities are notoriously high. It’s just what it is. They provide trash services lumped in with the cost of the cans.

When I lived in my first investment, it was a 2/2.5 townhome and my minimum bill was always $65 with me rarely being home.

Below was a average cost with a tenant Including how they break down the bill fees and charges. I hope this is helpful

My old bill from 2012 when I had tenants read this

Residential water

Service fee $20.40

Usage: $11.80

Utility tax: $3.22

Residential wastewater

Service charge: $11.43

Usage: $16.85

Residential sanitation

Garbage & trash : $16

Recycling: $2.35

Residential storm water

Service charge: $3.84

Total bill: $124.18

@Vernon Trice III

I was looking at the same thing! I’m in Atlanta which is driving distance and I considered going.

@Alexander Felice

Thanks so much for sharing! This is truly inspirational. It is proof that it’s so no matter how awkward or uninformed your journey starts out as, you can always learn and grow! Congratulations on your success! I guess as a newbie, I need to post more! ;)

@Account Closed just signed up today for justdeliverit. Do you know if it allows you to text? I believe sly allows that feature