All Forum Posts by: Tuan Pham

It would be traditionally financed. The carrying cost is the mortgage. I didn't add the utility expenses. I'm expecting to be less than 30 days of renovations.

Hi BP,

I need some help in understanding this report. When it says "Total Profits", does this mean I'll make back the cost of renovations plus an additional $20k?

P.S. Is this a good deal?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Casey Spivey - that was helpful. Thank you!

@Brian Ploszay and @Casey Spivey thanks for the response. This is good to know... I didn't realize that that was not enough information to analyze. What other information would one need to analyze this?

There are 3 bedrooms 2 bathrooms homes that are listed on the MLS in the surrounding area for $159k, $169k, $182k. Another listing for a 3 bedroom and 1 bathroom is $152k. The property in my original post will definitely need repairs to increase its value. The condition its currently in is unlivable.

Rents in the area for a 2 bedroom is $950-1200 and 3 bedrooms $1100-$1350.

My original idea is to BRRR this property.

Hey y'all,

I'm currently analyzing a property that I'm not sure is a good deal or not or how to turn it into a good deal. I'd like to know how you would turn this property into a good deal with as much detail as possible. I welcome all opinions, suggestions and feedback be it positive or negative. I'm hoping to this will help me learn and become better at analyzing. 

The seller of this property owns it free and clear. 

Asking price: $119,900

Type: Single Family, detached

Lot size: 66x66

Bedrooms: 3

Bathrooms: 1

Basement: Full, unfinished

Heat Description: Forced Air

Heating Fuel: Natural Gas,

Air Condition: Central

Property Tax: $2,661

@Justin Windham , thanks for the tip!

@Eric Mory - That sounds like an exciting market. Feel free to message me whenever.

Thanks for the advice!

Congrats on your second property. Looks like your hard work paid off!

I'm currently looking at a property that has foundation leaks, ceiling leaks/damage and a bunch of other work to be done. Any tips or advice you can offer to this new investor? Did you do all the reno work yourself?

Hey @James McCune , I'm looking to invest in Cornwall. I've gone to see some properties and they all require rehab work. Do the properties appreciate after rehabbing in Cornwall? Do you have any property managers in Cornwall you would recommend?

@Derek Rodenbeck - thanks for the warm welcoming vibes. Welcome to you as well. Likewise, happy to chat whenever.

@Eric Mory - Thank you. How is the market in your area? Feel free to chat with me whenever. 

Can't wait to see both your achievements in the near future.

@Mike Wass - I'm going to be there tonight! Hope to see you there.