I have someone who wants only 41k for this property with about 21k worth of repairs. 

Looking to have some repairs done and need to find local contractors that I could hopefully build long term relationship with.

., laundry facilities, pet fees).Fixed Expenses: Include mortgage payments, property taxes, insurance, and property management fees.Variable Expenses: Include repairs, maintenance, utilities, and any unexpected costs.Capital Expenditures: Set aside a portion for future big-ticket items (e.g., roof replacement, appliance upgrades) as a reserve.3.

After this tenant leaves, you must clean/repair, market, screen applicants, select an applicant, collect the deposit and rent, get them moved in, etc.

Hey everyone,I recently closed on a 6 unit, and have gone about updating 1 of the units with some repairs and will need new flooring.

@Alyssa LakeIt depends upon many variables, such as age, condition, location, the amount of capital you need for repairs and unit turns.

We will be doing paint and floors as well as a few very minor repairs

Sometimes properties that exceed the 1% rule can come with risks, like higher tenant turnover or hidden repair costs.

To determine rehab costs, calculate the After Repair Value (ARV), total rehab costs, purchase price, and other expenses.

We don’t really need the $400/mo cash flow and so have been saving that just in case the house needs a major repair.