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18 July 2024 | 11 replies
General terms:80-90% LTV/ 100% LTC with a cap at 70% ARV9mo note at 12.99% I/O3pts Origination$1k UW$1k LegalAdditional costs - title, appraisal, property insurance (~$2k)10% of renovation estimate as contingency due at closing.Renovation funds issued on a reimbursement basis for work completed.Looking for constructive feedback.Thank you to all that contribute.
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20 July 2024 | 59 replies
Cashflow is what's left over after you factor in repairs, capital expenditures, vacancy, property management, principal, interest, taxes, insurance.So it sounds like your not running numbers correctly - underestimating CAPEX which leads to over estimating cash flow.
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18 July 2024 | 4 replies
Sorry for the sarcasm.If you take the $180k purchase price (unstated but I assume same as your as-is value) plus the $70.5k rehab estimate, the result is 85% of the $277.3k ARV.
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18 July 2024 | 9 replies
.**= Again, confirm with your CPA what your specific bill would be.But, for rough math / estimation's sake, it sounds like a "probably" - is that a fair takeaway?
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18 July 2024 | 0 replies
They have a HELOC of ~$60kNumbers:Comps suggest ~$199.5/sqft (max 2,020 sqft)Estimated ARV: $335k (based on comps)Potential rent: $1,975-$2,000/monthQuestion: Do these numbers seem reasonable for the Braselton market?
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18 July 2024 | 3 replies
You'd have to engage a grading contractor who might be able to give you a ballpark estimate, but it would maybe have to be engineered with rough and precise grading plans to determine costs.
19 July 2024 | 58 replies
The ones who bought in good areas and used my contacts for handyman/repairs do great with cashflow+appreciation but some bought in rougher areas who try using 3rd party managers and the expenses eat into profits even just turnover costs are way under-estimated by most investors add in lower quality tenants and that 10%+ cashflow deal turns into 0%.
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17 July 2024 | 4 replies
Ask your property manager for at least 2-3 estimates on anything over $1,000.
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20 July 2024 | 28 replies
Google CEO estimates that we will see their capabilities double every 12-18 months.
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19 July 2024 | 35 replies
Just call him, all that you want to know in the questions above he can answer for you.He is incredibly nice, but nonsense, he is ex military (navy if I remember correctly).He is not a hard sell kind of guy, in his estimation you either want to invest or you don't so he is not going to chase or pester you.