One of my favorite quotesPerfection is not when there is no more to add, but no more to take away.Antoine De Saint-Exupery – author of The Little Prince

In the end, a property is worth what someone will pay - no more, no less.

No more carpet anywhere.

Finally, March went out like a lion with another 12" of wet, heavy snow on the 31st.Our April Fool's joke this morning was waking to another 12-14" of fresh snow this morning.We have 2+ story snow piles at three of our properties and have two loads of snow hauled away from other properties where there simply was no more space.Factoring in today's efforts, our snow removal costs this winter are just over 3800.00 ... and that is not counting the pass through clearing at our SFHs when the tenants called to surrender to Old Man Winter.

If the guy put $30K into it and it was worth $25K, it's might be worth no more than $55K retail - but again YOU DON'T KNOW until you do COMPS based upon $/sq.ft.

The first unit is not rentable yet, although getting close.Our building is 95 years old, was in very bad condition, now has new wiring, new plumbing, very old lathe and plaster walls, water issues (no more,) insured, 4 units....The purchase price was 26K and I was told by professionals who knew my property that it would cash flow with repairs estimated at 45K.

No more money up front!

No more posts, so here is the deal.

But, that gives you an idea of what you'd need the purchase price to be in order for the deal to make sense.Assuming the other numbers were accurate, and assuming you wanted to earn about 15% of the ARV in profit (about $30K), you'd need the purchase price to be no more than $115K.

thank you for the replies. there's more to the story besides the fact that HE was the one that set that rate of $15 hr, but i dont want to get into it at this point since it would not add any value to the discussion.my follow up question is: what's a fair and average rate for a rehabbing contractor. i have had guys that charged me $250 to install an exterior door (which takes no more than 1 hr), and I had guys that charged me just $120.