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10 July 2024 | 8 replies
Things that are within my skillset include: electrical (unlicensed), IT networking, cyber defense, and any handyman tasks.
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8 July 2024 | 6 replies
@Chris SeveneyThey did not support the wall correctly and i am going to get basement jacks as well as hire a structural engineer to asses and tell me the long term solution.As far as the sewer line repair, comps are around 250K, I am purcashing the house for 85K, i have budgeted 135K so far(without this repair) I have a total of 150K renovation budget.
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10 July 2024 | 10 replies
to give some feedback, you will need to estimate the cost to repair the house; if you don't know how to do that, we just need some information of what the house needs and the sqft of the propertyIf the house is, as an example, 2500 sqft, and It looks like you are stuck in time back in the 1980s, but the AC is working, the roof is ok, and there are no foundation, plumbing, or electrical issues; I can assume maybe a $20 per sqft, so the rehab is about $50K to 60KIf the ARV is 290K minus 10% closing/holding costs, - minus 20% profit - $50K rehab, ideally, in this example, I need to buy the house for about $150K to flip it, but as a landlord, I may be able to pay a bit more, as long as rehab is not too much, and rental is about $3,000 to $3,500 a month
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9 July 2024 | 2 replies
You are not required to pay upfront costs (and shouldn't, in my opinion.)I require written verification from utility companies (water, gas, electric) that utilities have been assigned to Tenant effective the first day of occupancy; no confirmation = no keys and lease approval withdrawn).
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12 July 2024 | 42 replies
The units have had all electrical panels and water lines upgraded with permits and new kitchen cabinets installed in all units.All of these deals were on Redfin.I would argue that there is money to be made in every market.
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11 July 2024 | 6 replies
If the sponsor is buying 1980 or older make sure they have a lot of money set aside for plumbing, electrical and HVAC.
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9 July 2024 | 4 replies
No claims, updated roofs,plumbing,electric.
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10 July 2024 | 31 replies
So now that it is empty, I have been doing as much work as I can myself, such as painting all the walls, replacing damaged bricks, drywall repairs, AC duct repairs, plumbing repairs, and simple electrical stuff to save money, but do not feel like I have the woodworking skills needed to install cabinets or siding and have it come out looking professional and clean.
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8 July 2024 | 0 replies
An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provides support for the property tax appeals process.Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.
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10 July 2024 | 10 replies
It has a brand new HVAC system, updated 200amp electrical panel and all new wiring throughout.