All Forum Posts by: Natalya Whitaker

Has anyone read the book "Scrum, the art of doing twice the work in half the time"? And then applied it to flipping? In the book he tells a story of how he hired contractors to remodel his house and they used Scrum. If I'm remembering correctly, they did it in three months on budget. His neighbor was very impressed so he hired the same crew to do roughly the same job (his house was almost exactly the same as the other guys). It took them six months and they went way over budget. Same crew, only difference was they didn't use scrum. So far all the deals I've done I've fixed up myself, but I would like to start using contractors and was contemplating the idea of "Scrum" and the "great groups" mentality to get the job done. Any thoughts?

I am looking at buying a 4-plex in old Louisville, KY. These houses are GORGEOUS, but very old. It's the biggest historic district in all of the US. In the 1940's several of these houses were converted to multiplexes to help in the war effort. So half are single family and the other half are multiplexes. The single family homes that are updated sell for $280,000 to $400,000. The multiplexes sell for $140,000 to $250,000. The 4-plex I am looking at buying is $225,000 but needs about $30,000 in updates. The units currently rent for #1 - $720. very large 1 BR, 1st flr front, #2 - $550 winter, $500 summer (mows lawn) small 1 BR, 1st flr rear #3 - $595 roomy 1 BR, 2nd flr front #4 – $575 roomy 1 BR. 2nd flr rear I would like to start by living in the front units, and slowly covert the house to a single family while we lived there. (We've fixed a house up while living in it in one of our other deals). So our rents would cover $1125 of the mortgage. I'm not exactly sure how to run the numbers when house hacking, and flipping. The numbers are only so so as is if it isn't a house hack. Cash flow $210 ish ROI 6.7%, although if the apartments were fixed up the would rent for an average of $100 more each per month. But I don't want to fix up the apartments because I want to eventually transform the house into a single family over an extended period of time. We would need to live in the house for 5 years while my husband finishes med school. I want to use the back two units to help with the mortgage while I get more deals. So good deal? Or bad deal? Thanks in advance