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12 August 2024 | 6 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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12 August 2024 | 6 replies
The bank that foreclosued turned off the electric the punp stopped working and there was about 2-3 feet of water in the finiahed basement for about 3 years.
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14 August 2024 | 64 replies
So we focused on shifting that energy to innovation for our customer... but it still irks the heck out of me when I see people clearly copy work we'd pioneered in this space.
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11 August 2024 | 1 reply
We have strict product codes, energy codes etc.
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11 August 2024 | 13 replies
I just stop talking and just followed and spoke when spoken to And he low balled me Mind you i have a new kitchen new bathroom room all new plumbing and electrical i gutted this house to the studs and my house is almost $40k lower if sold at this price cheaper then lowest house over here that sold
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11 August 2024 | 8 replies
But it may save some time and energy to deal with SFH maintenance?
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15 August 2024 | 29 replies
For example, roofing, painting, cabinets, flooring, electrical, plumbing, HVAC, etc.
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11 August 2024 | 0 replies
A 3 car garage in the back is just waiting for us to add electric doors and rent it out.
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13 August 2024 | 14 replies
How much is your time and mental energy worth to you?
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11 August 2024 | 12 replies
Many times, this approach has helped us avoid having to follow through with the eviction altogether because they will pay when they start receiving the required notices.Consistently sticking to the process also helps save time and energy by reducing the need to address delinquent payments on a case-by-case basis and lets the residents know what they can expect if they do not pay on time.Best of luck, and I hope this situation improves soon!