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All Forum Posts by: Steven Sample

Steven Sample has started 2 posts and replied 34 times.

Post: Diary of a 3/1 SFR Rent to Rehab - in Southern New Jersey

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

Jon your doing a great job on this property...keep up the good work.

Post: Diary of a 3/1 SFR Rent to Rehab - in Southern New Jersey

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8
Originally posted by @Jon Lafferty:

Wow how time flies, I wish I could report back that this rehab has been completed but I'm busy getting my masters degree in landlording :)

I have my first eviction on March 13th.

The rehab is coming to an end with 3-4 weeks of work left.

Completed Punch list:

Kitchen: cabinets mounted, counters cut to size and mocked up, electric completed for stove, new light fixtures

Bathroom: new everything, drain lines, feed lines, tile surround vanity, new toilet

BR1-3: all drywall and molding has been completed and prepped for paint, new light fixtures

Utility room: washer dryer hookup installed/ electric run, New furnace, 2 new windows

Living Room / Dining room: Drywall repaired, new fixtures, 5 new windows

Remaining punch list:

Paint: Going with realist beige on walls, white molding and ceiling

Flooring: Allure vinyl

Demo ramp / stairs in front of house, repair / replace existing steps

General Cleanup

Another lesson learned:

I had set what I thought were realistic timelines / phases for my GC / Handyman folks. What I have learned is that you really need to watch how you disperse funds in relation to milestones. There have been times I've paid a contractor and didnt see them for another week. Many of the trade folks seem to keep bidding other jobs to keep thier cash flow going. The problem with this is they get spread to thin. Now that I am nearing the end of this rehab I have trade folks working 5-10PM because they need to work during the day on a different job. 

In the future I will try to do a better job defining SOW and payment schedules with milestones.

Here are some photos of the rehab in progress:

Bath:

Kitchen:

Post: Anyone out there specializing in under 30k properties?

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8
Originally posted by @Derrick Jordan:

BP- closed on my first property on yesterday.  In Atlanta 19k 3\1 1920 home decent shape. Im projecting 19k in rehab.   690 to 750 rent excited

 Congrats Derrick....that is great what your doing. Keep up the good work.

Post: Anyone out there specializing in under 30k properties?

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

Congratulations Derrick

Post: Anyone out there specializing in under 30k properties?

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

Congratulations Derrick

Post: Check Out Our Latest Finished Rehab!

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

Wow awesome job. After seeing the before pictures. You really did a great job of rehabbing this property.

Post: My first Deal?!-- Fannie Mae home

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

Congratulations first and foremost......I am assuming that this property have some equity. Also as mention above the amount of rent you charge will play a part and how long your planning on keeping this property. But overall good job!

Post: Just Purchased My First Multi-Family Properties (Pictures)

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

Way to go man, good job......thats what I like to hear. Hopefully you will get two more after you get these fixed up and rented.

Post: Anyone out there specializing in under 30k properties?

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

I have purchase all of my properties under the 30k price range. I also have a rent range from $625-$900 a month. Nevertheless, count me in....I know there many many properties out there in this price range...

Post: Sub$30k - Property pictures

Steven SamplePosted
  • Duplex Investor
  • Coolidge, AZ
  • Posts 34
  • Votes 8

I am sorry Gautam, I seem to be having a problem with uploading these pics....