
20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

20 May 2024 | 3 replies
The cabinet shop I use also provides assembly and installation.

22 May 2024 | 30 replies
They cant be expected to run to the shop, grab materials, install at cost.

20 May 2024 | 27 replies
I know the North Dayton pizza shop im talking about has been robbed a few times, and the drivers have also been robbed on occasion.

19 May 2024 | 9 replies
Go to a mortgage broker that will shop around for a loan for you.

21 May 2024 | 58 replies
Actually, @Richard Licon, the American Association of Private Lenders does have a certification program they hold at their annual convention.

22 May 2024 | 77 replies
Wondering if anyone has shopped it around.

21 May 2024 | 11 replies
Start interviewing GC's at their job sites instead of a coffee shop.

21 May 2024 | 53 replies
I love this idea and will start shopping for one tomorrow.

21 May 2024 | 34 replies
If the average american person did not seek immediate gratification then a lot of problems would be solved.