All Forum Posts by: Samuel Hill
Samuel Hill has started 4 posts and replied 7 times.
Post: [Calc Review] Help me analyze this deal
- Posts 7
- Votes 2
@Adam Apalategui The previous owners have converted it into a duplex so they paid the price already
Post: [Calc Review] Help me analyze this deal
- Posts 7
- Votes 2
*This link comes directly from our calculators, based on information input by the member who posted.
Post: [Calc Review] Help me analyze this deal
- Posts 7
- Votes 2
@Jake Stuttgen Thank you for your advice. Ill amend the interest rate and I'm very confident in the location and rent
Post: [Calc Review] Help me analyze this deal
- Posts 7
- Votes 2
*This link comes directly from our calculators, based on information input by the member who posted.
Please let me know which numbers don't look right and if it would be a good deal
My Great Grandfather built a house in north St. Paul in the 60's. my grandmother has been living in it since it was built but she has reached the age where she cant live alone and everything is falling apart in that house, so she moved in with my uncle. My uncle is thinking about selling it to cover her medical costs but my brother and I want to keep it in the family since that is where we grew up and we would like our kids to enjoy that house too. It is in a great location. We haven't had an agent or and appraiser value the home but I would say it is about $150,000 - $200,000 in its current condition. The neighborhoods average sale price is $300,000. The options my brother and I have come up with is gut the entire house and rebuild it with modern materials and up to code. When it was built they didn't do any of it to code. Our second option is to tear it down and start from scratch. We think the best way to bring in income is rent out the 6 bedrooms individually. We can rent each room for $500 to $750 a month. I just don't know if its worth investing in or just letting my uncle sell it. It will probably get sold to a flipper and I would hate to have them make all the profit when my brother and I can do it and it would stay in the family then. I would Appreciate any input on the situation.
Post: [Calc Review] Help me analyze this deal
- Posts 7
- Votes 2
@Tim Herman yeah with those corrections im only cashflowing $5 a month. Thank you for the help!
Post: [Calc Review] Help me analyze this deal
- Posts 7
- Votes 2
*This link comes directly from our calculators, based on information input by the member who posted.