All Forum Posts by: Kimberly H.

If you had only $15k for improvements would you do an Oil to gas conversion with AC or new windows. They both need to be done, but the bank is only willing to give me $15k.

What makes more immediate sense for better rents or value added.

I can always improve other areas later in the year or after I close on the property.

Thanks in advance for your advice.

Ok....progress. Three additional estimates between 12K-14k. Much more in line with what you guys advised.

I agree, he should be reported. 

I also found out that rent for the area is between $800-1300.  So I have a little flexibility. The duplux is very nice.  Each one is 1300 sf.  3 bedroom.

@Aaron Montague

 You are so right.  I have two closing.  The renovation loan is a balloon loan for max 12 months interest only.  Then I close again on the complete loan and yes two closing and 2 closing costs. I end up bidding over asking.  by $10K. The numbers still work, but the cap rate is less of course.

I'm currently under contract with a Homepath duplex in Baltimore, MD.

Well I'm glad I listen to you guys.  Lender it is.  The other guy handles real estate purchases and issue title insurance, but do not do title searches.  They use independent abstractors.

Glad I asked the question and cost from the Lender is only $200 for a full search.

Thanks guys so much for your input.  I confirmed with the lender that I can use up to 3 license contractors for the renovation.   I contaced several other window companies and HVAC for my oil to gas conversion.  The same contractor wanted $12,000 for 2 boilers, etc.  So, it looks like I might be on the right rode now.  I can't wait to get those estimate back.

@Michael Hart - what is  a PFA number?

@Steve Babiak - Not sure what brand of windows.

Thank you so much and I will report back on the new estimates.  Most of you that stated I can buy a small house in baltimore for that price is so correct.  Notin  a great area, but you are right and yes that amount for windows is a decent rehab cost for a small property.

You guys are really awesome. I saw red flags, but now I'm putting the breaks on. I'm looking for 2 more estimates now. 

I knew it was a scam.

It's a $2900 sf. duplex. I do have the option of just replacing the 10 pane windows which I got a quote for $2,000 just for glass replacement.  I feel like I'm getting raped.   Urggh!   Anyone with replacement window expertise.   Why is the image showing up as a single little line. You have to click the line.

Any recommendations on a really good contrsctor. Need estimates. I have one and I know I should seek others.

I'm press for  time.

Thanks in advance.

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