Logan Rhea
Thoughts if this property flip Scope of work is too low
23 January 2025 | 5 replies
Below is my estimated scope of work and timeline.
Tyler Edens
House Hacking Budgeting
20 January 2025 | 4 replies
Assuming your numbers are accurate, I'm estimating your monthly "rent" or your contribution to the monthly expenses will be about $2,000.
Britt Griscom
Cost Segregation
21 January 2025 | 3 replies
I know a cost segregation study would be too expensive for such a small amount of property, but is it permissible for me to estimate the value of the components on my own?
Lauren Ruppert
How do you get a spouse's name off of the property if divorcing?
25 January 2025 | 5 replies
The estimated value now (roughly) is $200K.
Vincent Weselak
Is Homeowners Insurance Cover Somewhere in the BRRRR Calculating Tool?
21 January 2025 | 3 replies
@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow.
David Jesperson
Fix and Flip First Experience
17 January 2025 | 5 replies
For me the area I was concerned with was estimating costs.
Dennis Knapp
how to figure repair costs and arv
15 January 2025 | 7 replies
They can send you comps so you can confirm the estimated ARV.
Drew Sygit
A Logical Way to Understand & Monitor Your PMC's Maintenance Charges!
26 January 2025 | 2 replies
DIY A first-time DIYer can expect to spend several hours replacing a kitchen faucet.The time it takes depends on your experience and the faucet's complexity.You'll need tools like wrenches, a putty knife, and a small bucket.You'll also need materials like supply lines, silicone caulk, and plumbers tape.You may be tempted to be cheap and estimate only 30 minutes, but you should estimate an hour to be safe.What about the time to go to the property to figure out if a 2-hole or 3-hole faucet is needed, then drive to Home Depot to get it, drive back to install and then head either to the next job or back to the office?
Tayvion Payton
Would You Pay an 18% Premium for Seller Financing at 2%?
19 January 2025 | 8 replies
On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
Emory Clayton
% of Maintenance cost
26 January 2025 | 2 replies
I have all three kinds of parks- LT RV, POH and TOH so can help with repair estimates but so much depends on location and access to reliable repair services.