All Forum Posts by: Phil Tsouridis

The homeowners said they had an offer for 60k, knowing the possibility of getting the extra land in back which would pprobably be approved for another lot in back to build on i went 62k, in which they countered at 70k.. I declined, and really didnt wat to go over 40-45k thats is pushing it.. to make any kind of equity when finished in this market.. Lower then that would have been better.. Its a Probate property so all invloved have to agree.. Guess ill let them sit on it over the winter when the pipes break, then maybe i could get it for land value of 40-45k..

Raymond, No i havent - many tell me to stay away.. but im thinking a low ball offer to see what will happen.. maybe with cash.. but still havent determined what to offer.. the repairs for me to move in would probably be 80-90k

Thanks for the insight.. as far as the 20k what did you mean.. My figures are coming out to 17k for whole house, 17k for plumbing, ( both from the contractor as estimates ) as for windows 10-12k, count find asbestos removal estimate yet, Interior of both apts will need to redo flrs and linoleum as well as kitchen cabinets - Its will also need wall paper and paint and fix any bad floors or ceilings or - each apt is approx 1400 sq ft the house is in a desire-able neighborhood and has much carisma with a 3 car garage and possibility of an extra lot.. its a big project but I have to figure the repairs cost to a close estimate so i can make an offer - they are asking 85 and arv is 135-40 whacha think ? Id say 60-80+k in repairs - Roof will be @ 7-10k, siding is good, and 10 replacement exterior doors with 4 of them with storm doors.. then all interior.. what would you offer saying 70K in repairs and how did you come to that.. This is not a flip it will be an investment for myself to live in.. Thx man your the only one who responded so far..

I have found a 2 Unit / 2 story 3,000 sf - probate property that needs major rehab..The seller is asking 85,000 - NEED INFO ASAP to make offer!!!

I am trying to figure on costs of rehab as well as what to offer on home - ( I would reside in Home there after as owner occupant ) it needs the following from what i can see.. x2 for two floors/ apts

- 43 replacement windows
- 43 Square of Roof
- a Rather Large Tree Limbs Hanging over roof cut
- 4 Exterior Doors with storm doors
- 6 Exterior doors with no storm doors
- Raise Porch Rails to code ( another ft or so ) Porch in front is 50 ft & rear Porches 30 ft
- Fix Front wooden stairs @ 5-6 ft wide
- Fix Water entering basement thru Bull Ked ( add a drain or pour concrete )
- Pour Concrete in Three car garage floor ( is dirt now )
- Needs Heating & Hot water, and baseboard heat up two floors ( two new furnaces and FHW baseboard brought up two stories )
- Electrical service upgrade from 60 amps old knob and tub to breakers and also bring up two floors adding new elec service in whole building adding plugs in all rooms plus washer and dryer hookups - 2 Panels, and move it to outside from basement..
- New sub floors in Kitchens where needed , and then Linoleum floors in kitchen
- Total Cleanout 3-4 Roll Off Dumpsters for left behind junk
- Linoleum in pantry 4x8
- 2 Bathrooms - Needs new linoleum and 1 needs Sub floor
- Bathroom walls - rip off old plastic tile in one and make drywall and paint - Ba 2 Needs Rip off wall paper and skim and paint
2 - Living room Kitchen & (2) Dining Room and 3 (6)Bed rooms Refinish Hardwood floors on ea floor so x2
2- Living rooms, kitchen and dining rooms, remove wall paper and skim coat, and paint all walls and ceilings
2 - Living Rooms and windows remove all trim and replace with new and paint ( lead Paint )
2 - Repair Bathroom Ceilings and Pantry Ceilings and then paint
6 Bedrooms Fix Drywall, paint walls and ceilings
2 Bathrooms install bathtub wall panels
2 - Install Kitchen Cabinets , and countertops, and Sink in both pantrys
2- Install Dishwashers including pipe, drains and elec in two pantries
2 - Over stove - More cabinets in Kitchen @ 6 ft top and bottom with countertops
2 Install washer and dryer hookups after bringing power to location
Approx 150-200 ft of Asbestos removal in basement

also what is the lead time to do all this..?
Please help with Estimate of Price to acomplish all this..?

The house in this market would be 135-140k - what would you offer as residence or two rent and hold..
How did you arrive at this..? Thanks to all in advance..