All Forum Posts by: Tom Henderson

Team, curious if anyone on this has implemented RUBS in Minnesota? 

If so, would love to learn who was used. I've heard of Invoice America before...

@Dave Foster That is awesome feedback. I appreciate you taking the time to respond and provide thoughtful insight on the philosophy of holding periods. I don't envision selling these properties, but always good to know what the options are!

Thanks @Joel Owens I appreciate your feedback. 

Team, looking at doing another 1031 on 2 properties just purchased, renovated and leased-out. The IRS says I need to have 'intent to hold' property.  

What exactly does that mean? Is it more intent focused to lease and maintain the asset, or is there a timeframe needed to hold the property before I can trade up again. 

Thanks in advance for the suggestions. 

Team, Wondering if anyone has a solid gutter reference? The guy I used was too backed-up (like everyone else) and cost much more than previous years. Thank you!

Thanks @Isaac Braun. He's looking to get into home building, remodeling. I appreciate the help!

A friend of mine is looking to become a draftsman in Minneapolis. Curious if anyone on this board has experience in this area, or knows someone who has gone through draftsman classes? Would be a great skill to pick up for sure!

Hello Team! Properties are so expensive right now that I’m looking to understand cost/unit to build a multi family on an empty lot. Lot is in Minneapolis. Looking for resources on estimating this. I’ve heard everything from $120/unit to $175 per square foot. Thanks for the help and suggestions. Realize this is dependent on the location (Minnesota) but any info is appreciated. Also interested in referrals too, for the right contractor or PM. Tom

My other question is how do you factor cash-out refinance into cash-on-cash return ... 

For example, this is the equation for cash-on-cash return: EBITA/(downpayment + rehab costs) ... 

Let's be hypothetical, if a property were to increase in value, and you were to take cash-out, how would you factor this into the return-on-equity equation? 

Team, 

Looking at firming up on my portfolio recently, one question popped in my mind. If I've used debt financing to help with my renovation projects, how would you factor these into cash-on-cash return? Or, for that ratio, are you simply only taking cash spent out of pocket (non construction loan) into the equation? 

Thanks,

Tom