Doug Dias
First BRRRR: Worcester, MA Single Family
9 May 2020 | 8 replies
We are now one week into the rehab as I type this.Current BRRR Numbers:Pre-closing Costs: $2,740Plumbing inspection (because the house needed to be dewinterized, $150)Home inspection ($525)Appraisal ($655)Electrical inspection (because power was off on the day of the appraisal, $150)CO and Smoke Alarm ($366.57)CO and Smoke inspection ($52.50)Rehab consultant ($840)Kitchen Appliances: $2,000 (estimated)Plumbing: $7,300 (estimated)Oil tank ($1,800)Water heater ($1,000)Chimney liner ($2,000)Re-piping as needed ($2,500)General Contractor: $32,000Roof replacementDrywall patching and painting of entire house (trim, wall, ceilings)2nd floor bathroom spruce-upClosing exterior door in master bedroom and finish sidingBuilding two closets in two bedroomsBroken window repairsWindow frame repairsScrape and paint area over bulkheadFinish floorsRemove and dispose drywall from basement spacesRear deck repairFront steps repairInstall handrail to basementFoundation masonry repair and paintingRepair cement stepPatch area of exterior trim near kitchenPatch two rotted window sillsCap extra basement doorFill in dining room windowAsbestos: $1,500Electrical: $2,000 (estimated)Closing Costs: $3,733Home Purchase Price: $149,000Total All In: $200,472Expected ARV = $250,000 (initial appraisal for rehab loan came in at $235,000)Amount I have invested in the deal = $50,000Expected Cash Out at 80% = $50,000The situation is still very fluid, as we still have at least three more weeks of the rehab in front of us, but the numbers thus far are still looking promising, despite all of the surprises.
Tehane Gallimore
Coronavirus Outbreak and Effect on Short-Term Rentals?
26 March 2020 | 53 replies
When a new virus hits it does cause more alarm since we haven't seen what it has been capable of yet and what the patterns of transmission, infection rates, and severity etc are so we definitely want to be more cautious.
Chaits J.
BRRRR investing in Jacksonville
9 March 2020 | 4 replies
I tried my best to read through the posts but keeping how fluid RE market data is, I decided to ask one more time.Please suggest Zip codes and Contacts based on the criteria below.
Max Ratner
Starting from Scratch
1 May 2020 | 2 replies
What I outlined above seems like your core overall goal, and core what must be overcome to get what you want.Now what you need to do is make a workable plan to get it.You don't need "The Best Plan" just a plan that seems realistically workable, because like everything else in life it will probably be a fluid procedure (vs a static plan) to get what you want.A workable plan might be to figure out how much down payment and closing cost you will need to buy property number 1, and how much equity vs bank loan you will need to hit your monthly income goals vs what you have to put down on it as a minimum.
Shalom Benton
Financing with an LLC
8 May 2020 | 15 replies
Not sure where everyone stands now as the lending industry is pretty fluid at the moment but it can be done.
Greg Sheldon
Buying real estate from operating businesses?
11 January 2020 | 1 reply
If it is a C to D location then owning it might be a negative and instead have a fluid lease where when a better location opens up were you could drive many more sales you move there to lease or try to buy the real estate.It's all situational.
Ziad Maalouf
Building a seller's list in Montreal/Quebec
23 September 2014 | 7 replies
The bureaux de la publicité emits everyday a list of every real estate transaction: mortgage, avis de transmission, préavis de saisie that they put on the registre foncier.
Dion DePaoli
Why to invest in Notes?
20 October 2015 | 90 replies
It is a expansive and fluid subject, I am subject to it all just like everyone else.
Denise Madrid
Buyer Backed Out Due to Powerline Nearby
23 November 2013 | 18 replies
But all the studies paid for by the electric transmission people say it's safe...........
Robert Lasko
Investing out of town? Am I Crazy!?
5 January 2014 | 8 replies
This is BP Control, Gulf Yankee, GCA approach to success, we'll keep you on course, on glide path, cleared for approach, further transmissions need not be acknowledged.