All Forum Posts by: Robert BEnnett

I am looking for quotes from a contractor to rehab a single family home in Detroit.

@Account Closed...Thank you sir for your input. Help me understand based on the info you dug up what number would make this a property worth investing in? As an investor what other info would you need to have to make an informed decision?

@Brent 

@Brent Coombs...I am not fixing and flipping the home. The house has already been rehabbed. The person who rehabbed the home gave me their asking price so I calculated my numbers based on the property as a rental and potential rental income to try to see what would make sense as an investor if I were to purchase or wholesale this property to an investor looking for an income property. If that makes sense.

@Brent Coombs...What would you consider a reasonable interest rate on an investor type of loan that would make my projections more accurate? The rental number I got from Rentometer. How do you calculate vacancy, cap ex, and maintenance? This home is a fix and flip that was presented to me.

@Nate Burgher...I did go through Rentometer and that is where I found the median rent was $1700. It is an out of state fix and flip that was presented to me (so maybe 5% interest loan is unreasonable) so I am trying to find all of the right questions to ask to make an informed decision. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Does anyone know of a good RE Lawyer that is familiar with drafting wrap-around mortgage contracts?