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20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.
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21 May 2024 | 25 replies
It’s a 3000 sf 5 bed 3.5 bath new build (2022) with really nice finishes.
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21 May 2024 | 4 replies
I am 35 and the owner of a 1000sqft 2 bed 1 bath starter home that I bought for 150,000k in 2020 at 2.75% interest rate.
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22 May 2024 | 27 replies
STRs are saturated at smaller sizes but heavily themed 6+ bed properties can still be great properties in that Disney Area.
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23 May 2024 | 80 replies
@Sebastian Rodriguez When contractors move out my wife cleans the place, does laundry, makes beds and restocks it.
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20 May 2024 | 20 replies
I have seen one bad tenant crush an entire 4 unit building with bed bugs, non payment of rent, and drive good paying tenants out of the building.The location is the # 1 priority, after that asset condition is really important.
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24 May 2024 | 259 replies
Thanks,Miguel SuarezHi, I have them listed on my profile :) both are 3 bed/1 bath single family.
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20 May 2024 | 7 replies
Some places like in and out of Knoxville, TN have great homes 3-4 bed 2-3 bath homes 2500-3500 sqft on a 2-3 acres with annual taxes below $650.00 year!
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20 May 2024 | 8 replies
Buy a small home that has 3 beds and baths.
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20 May 2024 | 18 replies
I spent a total of $500 to do my kitchen cabinets into bed bath cabinets.