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17 January 2025 | 7 replies
(They claimed thousands for electrical using what appeared to be a fake electrical company, and they never had someone out to even check electrical beyond the general.)
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27 January 2025 | 5 replies
And, yes, there are years of data points to validate that just within my office, tens of thousands of dollars of wasted appraisal and inspection fees for deals (mostly not mine, thankfully) that had 0.00% of going anywhere but the "Loan Application Declined" bin.
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15 January 2025 | 7 replies
I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.
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19 February 2025 | 4 replies
The fees and overall costs of these loans needs to be a key factor including what if the project goes over time . . . . you can be underwater in no time.Underestimating repair costs and overestimating ARVs based on Zestimates are the next stumbling block.There's money to be made but make sure numbers all work WITH contingencies defined and overages expected . . . remember, a project will always cost more and take longer than initially thought!
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21 February 2025 | 9 replies
Your question asking for detailed loan estimates from multiple lenders at the preapproval stage with "exact cost to close" is very problematic.
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23 February 2025 | 3 replies
Needs new everything floors, kitchen, bathroom, paint, roof, landscaping and also has termites and a tentant that's not currently paying rent, for a 1000 sqft property they want 160,000 for it, but my comps say for a rehabed house in similar sqft property in that zip code would sell at 220,000k and I would say it needs atleast 65,000 to 75,000k in repairs so my offer price was at 100,000 to 110,000 and the buyer will not entertain my offerI would like to offer more but if there are any surprises I'd like to be prepared for those cost during the rehab process.
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23 February 2025 | 3 replies
*Energy Efficiency – Given the hot climate, buyers in Phoenix look out for energy-efficient upgrades like new windows, insulation and solar panels.ABSOLVING COSTS & POTENTIAL PROFITSBefore you put down your money for a fix-and-flip, it’s important to run the numbers on all the costs, including:*Purchase Price — The amount of money paid to acquire the property.
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18 January 2025 | 4 replies
The property is only 9 years old so that's why I put only $10k also, they are opening a new company that will employ thousands of people nearby so that's why I put a 6% income growth and only 3% expense.
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28 January 2025 | 15 replies
I manage hundreds of rentals, thousands of renters.
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22 February 2025 | 6 replies
Is there a quick way to estimate what those other costs will be monthly to make sure my calculations are accurate?