All Forum Posts by: Matt M.

@Kathy Henley When I say duplex, I mean a half double. It’s two single family houses connected. I own one side. No legalities involved. If/when I buy the other half it’s it’s own separate entity. I currently have good positive cash flow from the side I own, I paid $23k, $14k rehab. I rent the house and garage for a total of $1205/month. The other side would be a bit more to purchase, with about the same if not a little more to rehab. I’m just thinking the two together would be a solid turnkey investment for someone, rather than trying to sell them individually which could take a lot more time

@Johann Jells We won’t get appliances repaired, not at $75 service charge, plus time and materials. It’s easier and cheaper to find used, at last resort new. I had a 1.5 year old $375 gas stove cost $300 to repair. Never again

@Matt Tallent I use e-renter.com. Works well, accurate, quick, lowest cost search is under $20

Hello all, I own a half duplex that I currently rent out. Also has a garage that I rent separately. I am in the process of trying to buy the other half (older person, house needs a rehab). I am thinking about selling the both when I buy and rehab the other side. Would I be better to market it as an investment, both sides each would rent for $1100/mo and garage is $125/mo. Or try to sell them individual to owner/occupants. The side with the garage would go for approx $100k, other side a little less (no garage but newer siding,boiler). Possible investor deal at around $170k for both? Income would be $2300/mo. Thanks!

@Kurt Michaelson Nice last name sir! I would let the buyer know your highest and best offer and put a time limit on it. If the property is having no action he just may bite on your offer a month or two down the road. Good luck!

@Alina Beryh Whatever your estimates are, always add more!

Hello all, I own a half duplex that I currently rent out. Also has a garage that I rent separately. I am in the process of trying to buy the other half (older person, house needs a rehab). I am thinking about selling the both when I buy and rehab the other side. Would I be better to market it as an investment, both sides each would rent for $1100/mo and garage is $125/mo. Or try to sell them individual to owner/occupants. The side with the garage would go for approx $100k, other side a little less (no garage but newer siding,boiler). Possible investor deal at around $170k for both? Income would be $2300/mo. Thanks!

@Alina Beryh When I do flips/rehabs for my clients (especially foreclosures), I charge time & materials. Once you get in there and start opening things up, you never know what you’ll find. I simply won’t put a price on bringing a house back into shape. It takes to much time to try and figure everything out, and there’s always more. 15 years in business and my clients are thrilled with my work. I’ve known quite a few contractors get burned quoting whole house rehabs. Example- I’m finishing a house now, owner guesstimated about $5k, “only needed some fixing, paint, carpet”. Ended up being all new plumbing, broken radiators, all new windows, etc on top of the initial thoughts. A typical house I rehab, figure 1300sq ft, ends up around $25k. Sometimes more or less, but that’s taking a dump and turning into something flippable or higher end rental. Good luck in your endeavors!

These are such small items to remedy. Home Depot sells adjustable replacement screens about $10 each, a window sash lock is $5. I don’t think they are asking for anything crazy