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31 August 2021 | 2 replies
What programs/tools/resources have you found helpful for things like:Finding areas that are most likely to increaseFinding the best size or room numbers to optimize profitAny other areas that would be good to knowThanks in advance
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31 August 2021 | 8 replies
In that situation, the dwelling unit is never disposed, and that is the essence of the dynamic you're trying to examine.Now, with the situation at hand, you're talking about a lot more than just scrapping the mobile home, so the optimal answer given the facts and circumstances would depend on a conversation with a tax advisor who excels in this area.
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11 October 2021 | 21 replies
It’s not a bad decision giving everyone you have stated but it’s certainly not optimal either.
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19 September 2021 | 14 replies
Selling the existing SFR sounds like a pretty sub-optimal idea now :) @Austin Largusa investing out of state is absolutely on the table!
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10 December 2021 | 16 replies
To be honest, 30+ minutes on a dirty CTA each way is not something I’m willing to do, I work 70-80h a week (that’s my “little sacrifice” already) so it is important to keep my daily routine optimized, and walking to work from River North/West Loop is not negotiable.That might as well mean that it’s better for me to keep renting rather than “investing” in an overpriced condo.
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2 September 2021 | 5 replies
.#3 Contact Local Contractors for Labor Pricing / Hire a GC to ConsultCall local Subcontractors and get budget pricing for common repairs on your typical rehab project.For example, call a roofer and ask what their average cost per Square of Architectural Asphalt Shingle Roofing would be on a 1,500 sf house, with a 6/12 pitch.Note: Some contractors will be reluctant to share pricing without seeing the property, but tell them you are just looking for a rough budget number you can use on future projects.You can also pay a General Contractor a consulting fee of a couple of hundred dollars (per house) to walkthrough a few properties with you and provide a detailed estimate of prices that you can use as your 'menu for future projects.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.
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7 September 2021 | 2 replies
.$3,000/month x 12 months = $36,000 annual ADU rental income$36,000 income – $5,400 expenses = $30,600 net annual revenue$30,600 revenue / $225,000 investment = 13.6% annual returnHere are some things to consider with regard to ADU amenities to optimize rents:Storage: ADUs are generally pretty small and usually don’t include a garage, so it’s important to include areas for tenants to store their belongings.
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7 September 2021 | 1 reply
Just search out Lease Agreement Packages in the TOOLS menu at the top of the page.
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7 October 2021 | 2 replies
Hopefully you can filter down from the doc type menu and see grantors that aren't big institutions.
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9 September 2021 | 0 replies
Since my work allows me to go remote, and work form anywhere I can use that to optimize living in that area.