All Forum Posts by: Robert Shortsleeves

Hey Catie,

We do deals in the Fayetteville or Fort Bragg area. We love working with investor friendly agents!

Love Love Love this market. We source most of our deals with direct to seller marketing but there are a handful of great wholesalers that can help you source deals. 

Yeah Gun Dog said we can increase everything by $5 and we should be good. 

Hey Team,

I made this post back in 2020 and now that the world is a different place I wanted to see if these numbers still apply or should we bump these up $5-$10/sf?

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2020 Post Below: 

I'm a Fayetteville, NC investor and wanted to share the way I analyze rehab costs. When I started buying rentals this was one of the hardest and scariest numbers to put into the BP calculator so I figured I'd share and hopefully help some folks that are stuck.

If any more experienced inventors have some feedback that would help too.

1. Lipstick (paint and floors) --- sqft x 5-10 = rehab cost

2. Light (Paint, floors, appliances, fixtures, ect.) --- sqft x 15 = rehab cost

3. One Cap Ex + 2. (Roof or HVAC) --- sqft x 20 = rehab cost

4. Two Cap Ex + 2. (Roof AND HVAC) --- sqft x 25 = rehab cost

5. Full Gut --- sqft x 30-35 = rehab cost

Example: 3/2 rental with 1150 sqft that needs a new roof, HVAC and all the goodies inside (Number 4). Not a gut job but you'd want to update the kitchen and bathroom cabinets with some hardware and paint. You may need to get a new countertop in the kitchen, some decent landscaping and minor exterior updates/repairs. Of course, you'd need to put down some LVP in the common areas and probably carpet in the bedrooms.

1150 x 25 = $28,750

If you have the right team you can defiantly get this sort of rehab done cheaper but you'd be safe with this number.

 Now that the world is a different place is this still accurate?

I'm always here to help. We love working with other investor. Thanks yall! 

If you ever need help with Fayetteville, NC deals let me know. We have been helping others with dispositions and transaction coordination and it's been super fun helping others.

Hey BP Fam! We are starting to ramp up our marketing in Fayetteville, NC. If you have any interest in doing deals in a great buy and hold market feel free to reach out. You can also see what we currently have available on our website. Happy Hunting! :)

www.shortsleevesrealestate.com

I use either RJ with Spoat Jackson and Brown or Gil with Alotta Properties. Both are great!

I could say the same thing about you :)