All Forum Posts by: Tom Murphy

Thank you!

For those of you who are flipping on a large scale, what (if any) cloud managed project management software do you use and why?  I'm thinking of keeping track of all the small and large tasks involved in multiple rehabs happening at one time.  Appreciate the input.

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First time using the BRRR calculator for a duplex in an up and coming area in Charlotte, NC.    The duplex will need a total gut but we're hoping the reno will drive the rental rates up past what they've been typically seeing in un reno's properties in this area.  Our real interest is to hold this for 3-5 years and let the "hot" appreciation in the area catch up.

I'm not seeing the numbers work in my calculator.  Can you all please advise?  Thank you

@Darius Kellar thank you and while I appreciate the approach you’re taking in your own investing career, it’s not the best for my situation and goals.  Best of luck

@Brian G.thank you very much for your informative reply.  Much appreciated

@Darius Kellar thank you.  There’s no way I can scale if I’m spending my hours during the day rehabbing.  That’s why I have three and soon five properties being rehabbed now.  I’ll trade the hammer for a qualified GC or PM and for three more properties cash flowing (and appreciating) at $350/month.

I originally purchased a 3/1 ranch (1,400 sqft) for $45,000.  We will have improved literally everything with a rehab investment of $80,000.  We have a purchase rehab loan presently.  While our original intent was to flip this home, I'm listening to Brandon Turner's audio book Rental Property Investing and thinking this could be a rental.

With this in mind, how do I calculate the loan for the rehabbed house? Do I just put the original pp of $45,000 in the rental calculator then add the rehab costs, other costs and ARV or do I look at a different loan amount since I've rehabbed the house and will refinance? If I use the former, my cash flow is $350 based on area rents. But, if I figure a different loan amount, considering the refinance and rehab built in or ARV then the numbers look different.

Thanks,