All Forum Posts by: Michael Orakpo

@Brandon Hall

Great job man! Also great find looks like the numbers work

@Mark Cruse

I don’t even know the man to think anything of him personally or “Bow” down. It’s honestly sad you think someone Bow downs to another Race because they didn’t find offense to remarks made.

I simply said I didn’t find anything he said racist. You sat here lecturing him on what you perceived his comments as and painting a picture of someone you don’t know while me as another Black man had absolutely no issues with it 🤷🏿‍♂️

Anywho, I’m done with this conversation just wanted to give my input as I saw the thread was turned and taken over by BS. Enjoy the rest of your Sunday ✌🏿

@Mark Cruse

Oh PLEASE. Everything is not about Race, please stop it! Is Black Folks have got to stop playing victim every chance we get. Everytime someone is being straight forward and speaking the obvious it turns into this PC BS.

You are turning a Section 8 thread into a Race conversation when he mentioned neither.

@James Wise

I’m Black and I did not see any racist undertones with your remarks. Section 8 can ABSOLUTELY be Savages! It is what it is. Grown men shouldn’t be on a Real Estate forum with all this Emotion, it’s Ridiculous.

@Timur Salikov

That’s just for the kitchen. The Home itself Wood floors are in pretty good Condition.

Tax is something that could potentially make me want to BRRRR the deal Vs sell the home.

I’m still trying to make that decision.

@Timur Salikov

Yessir very Cosmetic. The property has really good Structure and it’s really in my opinion a cleanup. Even the wood floors are in great shape. My GC is very experienced and has been doing rehabs for quite some time but here is his scope of work:

Upgrade both electrical panels and service outside.

Electrical materials $3500

Install new tub, toilet, vanity, medicine cabinet.

$5000

Upgrade all kitchen cabinets, countertops, floors and sink. $ 7500

Paint all walls and ceilings throughout $2500

Keep all natural wood trim and doors

Refinish hard wood floors

$2000

Install new hot water tank $1800

Paint all basement walls and floors $800

Scrape all soffit, handrails and floors around all porches. $2500

Install all missing gutters throughout $1200

2nd floor Upgrade all painting, $2500

Remove all old Ceramic tile in kitchen $600

Install new LVP throughout $4000

Rehab Budgets including Install: $30k

Where some of my hesitation lies is the ability to sale at the projected ARV. Z

Wassup BP,

So I’m fairly New in the Cleveland Market I am a Out of State Investor.

I have solidified what appears to be a solid team.

-My Investor Friendly Agent

-My GC, Interviewed a few but was recommended to him and he’s been very helpful and price is competitive

Home: Duplex 3100 square foot, 2/1 BR in each

Value Add: Add 1 BR plus cosmetic upgrades throughout Kitchen, floors, New roof installed 7 years ago, New Door

Home price: 93k -submitted 90k offer

Repair Costs: 25-30k

ARV:195k

Down: 19,500

Hard money Loan at 12% normal terms

Goal is to Reno & sell within 6 months.

How do you all think the numbers look on this Deal? The property is in a B type area on West side and not too far from Hospitals/Zoo etc.

Comps come back in the low 200s. I think it’s worth the squeeze.

@Justin Kane Thanks Justin I've pretty much made up my mind, just was curious as to why people did choose certain markets. Thanks for the advice!

@Russell Brazil Hey Russel, yes that is exactly why I will be working in Houston. Huge market with a high ceiling & different suburban cities  to choose from also. Thanks

 Still waiting for your answer to the question? Lol

Welcome to BP Mike! I'm a new member also, great site to gain so much more insight & knowledge on RE. 

@Jay Hinrichs Great Response Jay Thanks 

@Jared Watson Sounds too good to be true, would love to hear the numbers if you don't mind.