All Forum Posts by: Michael Krupp

Quado,

I actually had an identical situation on Madison Ave in same area which I purchased years ago and recently sold.  This is a tough situation and i am happy to share some advice.  It might be best to reach out to me via email.  I am happy to share some details here if you prefer.  The real key here is how much work still needs to be done.  It will be tough though to get someone to come in here and pay around $300k.  How much is still in escrow for the work to be done? 

Nuno, the furniture is temporary and only used for "Staging" the property for resale.  This allows buyers to get a better vison for use of the space inside.  Without staging, often a first time home buyer will not be able to see the entire vision of the house.  The photos for the listing also look much better when a house is staged.  I highly recommend staging to my network as it does make a difference and helps houses sell faster in my experience.  

Hi Folks, 

I am new to Bigger Pockets but not new to Real Estate Investing.  This is a great thread and awesome information from a guy that is in the thick of it, so Congrats.  Thank you Joseph for doing all you do and sharing it with so many in need.  I am actually a Hard Money Lender and Full Time investor as well and often mentor new rehabbers.  I have been in the business now almost 20 years, but have stayed mostly under the radar until recently.   You are right, contractors are likely the biggest obstacle to a rehabbers' success, so this is a critical piece to get right.  When you outlined your prices, you had $ 15,000 for 10 doors which I am sure is an oversight.  I assume you meant $1500 or there were other items in here?  Your costs are pretty much on target, and there may be a few areas where you save some money, but if you trust your GC, it is always better to pay more and be able to sleep at night!  I wish you continued success and will begin to share my long journey of real estate investing in the future.