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23 January 2025 | 6 replies
I'd talk to your zoning office and see. 3 bed 3.5 bath in 1500 sq ft is pushing it. we build super compact and have a layout thats 3 bed 2.5 bath 1 car attached garage in Columbus Ohio.
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3 February 2025 | 8 replies
Look for bankrupt companies, TOys are us, Bed bath beyond, Macys, retirement homes, Boston Market, etc etc.
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25 January 2025 | 1 reply
Podcasts on the way to and from work, and read a book right before bed, maybe even squeeze a few minutes into browsing some specific topics in the forums.
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27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
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18 February 2025 | 148 replies
“He outbid me,” said Slaughter, whose rent has risen from $700 to $900 since Mendenhall’s RAD Diversified REIT became her new landlord in late 2019, even as she says her complaints to RAD’s property managers about pests and leaky pipes have gone unanswered.ADVERTISEMENTSlaughter’s home is part of a five-state empire of real estate bought through sheriff’s sales and “We Buy Houses” signs that Mendenhall, RAD’s chief executive, has been selling to investors on Facebook, YouTube, and other social media, touting what he portrays as the venture’s market-beating performance.Mendenhall, who is based in Southern California, has described Philadelphia as the biggest market for RAD, a firm founded in Florida that specializes in buying distressed real estate then renting it out.
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28 January 2025 | 10 replies
Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up.
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23 January 2025 | 5 replies
Any experienced flippers or investors opinion's would be greatly appreciated.Scope of Work and Rough BudgetProperty Address: 460 Summit Oaks Dr, Nashville, TN 37221Property Details: 4 Beds, 3/1 Baths, 4004 SqFt, 0.190 AcresPurchase Price: $500,000Target Selling Price: $800,0001.
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14 February 2025 | 21 replies
It's a 4 bed, 2 bath in Anna, TX, north of Dallas.
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13 February 2025 | 16 replies
She was comparing it more to a bed and breakfast, hard to finance.