All Forum Posts by: Sharnita Smoot

Thank you so much for this information. It was very helpful! 

Originally posted by @Michael Garofalo:

Hi @Sharnita Smoot, a good rule of thumb for estimating rehab costs I like to use is $50/sq ft for a total interior gut. Then I also tack on an additional 10% to deal with the unexpected. So if a house is 1,000 sq ft in size, I would budget $55k ($50,000 + $5000).  For a cosmetic rehab, I'd apply the same logic but go with $26-$28/sq ft. This is a good way to get a rough estimate of what you may be looking at, but you'd still want to have a licensed contractor do a walk through and give you a more targeted SOW. Feel free to PM me if you have more specific questions about the exact costs of what specific types of renovations should run and best of luck with this deal!

Thank you Marian. Yes I am looking to assign the property. And yes it is it in a desirable block in Brightwood by 3 different bus stops. And yes it is between rehabbed homes. Your information was great! Thank you. 

Thank you for your reply. I understand what you mean. I’m going to have to view this property some how. 

900 Block on Bradford St Baltimore, MD 21205

Asking- $109K (OBO)

Rehab- $30k

ARV- $225K

This wonderful home with 2 bedrooms 1 den and 1 full bath is located in the revitalized STATION EAST Community. This property has an open layout, recess lighting, hardwood floors, updated carpet in the bedrooms and updated bathroom. The home needs very minimal work. The basement needs minor work. Add a bathroom in the basement for a higher ARV of at least 250K. It is an excellent opportunity for the right investor in a very HOT area.

This is the link to view pictures of the property

https://www.dropbox.com/sh/gilngld6fa5h2zv/AAB4xsyd0xHP2WLg3zwmlgEwa?dl=0

Sold Comps

2434 Ashland Ave sold for $254,768 

2411 Eager St sold for $229,590 

2409 Eager St sold for $249,900

Call Brandon at 202-415-8677 for showing instructions.
$2,000 non-refundable deposit and signed agreement are needed to secure the property.
Current POF needed for access.
This is an assignment of contract.
Prefer to use our title company.
Buyer pays all closing cost.

We look forward to hearing from you soon!

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"We are in the business of helping. Help us HELP YOU!"

Sharnita and Brandon Smoot

202-210-8134

202-415-8677

www.SSrealestatehousebuyers.com

Greetings Fellow Investors, 

I am interested in putting this house under contract but I need help with estimating the rehab cost. 

The owner of the house passed away and left it to a relative. The owner was a hoarder. And the house per the nephew isn’t not viewable because of this. 

The steps on the outside of the home is damaged and is basically just gravel. 

There was roofing damage that was fixed. The roof not the room that it impacted. 

The house is a 3 bed 1 bath and 1505 sq ft and most houses in this area get flipped to a 4bed 3.5 bath with an ARV of $700k.

I just really need help with estimating how much the repair for this house would be around?

And how much an investor would be willing to purchase for a property with so much work needed?

Thank you in advance! 

Greetings BP! I am in search for a seasoned investor who would like to get some tea and chat about the D.C. and Maryland properties. I am extremely focused on increasing my business and knowledge of the area. I currently have a few possible deals in the Brightwood area of D.C. that I would like to run the numbers with. I truly believe in personal connections and communication and would love to meet.