
3 July 2024 | 1 reply
As a buyer, I'd want to see more on your expenses estimates.

3 July 2024 | 6 replies
The rehab estimate is about $150,000 but it could go as high as $220,000.

3 July 2024 | 1 reply
(I was obviously wrong about this as that property is currently estimated to have a value of $540,000.00.)

2 July 2024 | 10 replies
One other thing to keep in mind is appraisals are estimates not exactitudes.

2 July 2024 | 3 replies
you can see how 50% will be fairly accurate estimate

3 July 2024 | 3 replies
I'm willing to leave the property empty for a year to take advantage of owner occupied loans, if that's possible.Here are my estimates..Property: 1,355 sq ft, | 3br 2bath | 8,500 sq ft lotComps / ARV: 500-560k ~ 530kTotal Needed: 340-400k ~370kSale Price: 270-310k ~ 290kRenovations: 70-90k ~ 80kSevere cleaning needed (doing myself)Severe landscaping needed, it's a jungleI'd like to maximize potential value and be at the top of in-area comps, so would like to do a full gutCash on hand: 20k - 30k------------I'm considering,- Seller financing + separate renovation loan- FHA 203K (BRRR)- Fannie Mae Homestyle Renovation (if down payment is below 5%) (BRRR)------------Seller Financing + Separate Renovation LoanPros:Low down payment (via seller willingness) <= 3%Low interest rate (via seller willingness) <= 3%Cons:I'm unaware of how I can finance rehab without a personal loanMust cash-out refinance to obtain equity, conventional loan rate will not be as good------------FHA 203KPros:Low down paymentBundles rehab costsCons:Higher interest rate than the seller financed loanMust cash-out refinance in order to obtain equity and make an investment property------------Fannie Mae Homestyle RenovationPros:Bundles rehab costsCons:Higher interest rate than the seller financed loanMust cash-out refinance in order to obtain equity and make an investment property------------I may be totally off on what would be optimal here but wanted to provide my current thoughts.

2 July 2024 | 0 replies
Always over estimate upgrades or flips.
3 July 2024 | 20 replies
.*** Make sure you know how to estimate repair costs.

2 July 2024 | 6 replies
See below output with a few thoughts:- Would need a few more data points to be precise (rehab estimate, duration estimate, property taxes, insurance, utilities, HOA, maintenance, etc.).- Assuming a 12% HML with a 3% origination fee held for 4 months, with a 30-year cash out refinance at 70% LTV and 7% interest rate, where the property stabilizes two months after refinancing (6 months after purchasing), you would (i) nearly breakeven on the cash out refinance and would generate $455 in monthly net cash flow in year 1, increasing annually, assuming you rent for $7,000 in year 1 and increase rent 4% YoY.- See below and let me know if you would like me to send you a copy.

2 July 2024 | 3 replies
The port Authority has just begun construction on a new Business district located up by Pangborn Airport.There is a large road project building a second bridge over the Wenatchee River to downtown to help with future traffic flow the project's estimated cost is over $92,000,000.A secondary Road Project is also happening on the south end of Wenatchee Ave.