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7 April 2024 | 16 replies
We don't know what you have figured into your $80,000 renovation... but just throwing out some items I see.
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6 April 2024 | 10 replies
I have 130 + items and don't want to deal with 130 buyers instead just one.
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9 April 2024 | 64 replies
Hospitality still seems to be thriving.How about food costs?
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7 April 2024 | 8 replies
I work a full-time job, a side gig as a food delivery driver, moderate for BiggerPockets, gym, family, friends, & etc, but I still self-manage my properties usually from my cell phone, lol!
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7 April 2024 | 5 replies
Their software does NOT look at your individual house but they price it by the subdivision/street and adjust for various items, like square footage, permitted improvements ect.
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6 April 2024 | 5 replies
I am a first time real estate investor looking the following property : https://www.redfin.com/OR/Forest-Grove/2418-Cedar-Cir-97116/...its a pretty large duplex in Forest Grove OR, the trick is though, its on a lot zoned for a 4 plex so I am lookinginto house hacking, converting into a triplex, then living in one unit while renting out the remaining two unitsThe left garage has been converted to living space, with a living room, half bath, a laundry room with a sink and some counters/cupboards and a bedroom, it is a part of what was an existing 3bd unitIf I were to acquire the asset, I would first attempt to convert that space into its own unit The line items as I see (be in mind, I am totally new to this) would be to >put up dry wall where the door to the rest of the house is,>add a shower to the half bathroom >install a water heater in the adjacent 3bd unit> install a kitchen in the laundry room, (stove , oven , sink, counter space)>add a shower to the half bath Assuming I can convert it to a 3plex, I could at-least cash flow on my investment after I leave My plan would be to put minimum down payment of 3.5% (FHA loan) that way I can have a decent amount of capital free to do the renovationsThe only concern is when I crunch the numbers to get my ROI, I have no idea how much its going to cost to convert the additional living space to a third unitAny experienced investors here know how I can estimate this before I try to make an offer?
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8 April 2024 | 39 replies
My advice is to treat your balance sheet with respect and keep your short term debt items like LOCs at a minimum if you can.
6 April 2024 | 3 replies
There are far more important items you should be prioritizing but first so I am clear on the strategy, it sounds like the business plan is to go under contract, renovate the building and then purchase the building once renovated and stabilized?
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6 April 2024 | 19 replies
Unless you are doing all of the maintenance yourself, figure about 5k yearly for touching up paint, repairing misc. items the guests break, bikes, kayaks, BBQ grill, pool maintenance, lawn service, pest control, replace TV remotes every time someone checks out.
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5 April 2024 | 15 replies
Its so much to talk about and thereś so many moving parts but this is some food for thougtht.