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12 January 2025 | 28 replies
You can't lock them out of their room, turn off the electric, or anything like that.
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16 January 2025 | 78 replies
My PM, who did not know my realtor, said the house looked good, nothing needed to be done, and got it rented.Turns out both were terrible, the house needed new HVAC, AC, windows, Doors, Pipe fixes, Water Heater, electric line, I found all this out after my Tenant Sued us because of the house's condition.We spent a 9 months of the tenants chasing off contractors before we got it repaired and the tenants out, then the judge granted us all our rent so we finally go that.
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4 January 2025 | 5 replies
I also have five gas/electric meters.
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3 January 2025 | 5 replies
This unit was gutted down to the studs so there is all new electrical, plumbing, windows, sheetrock and finishes.
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31 December 2024 | 0 replies
Additionally, we addressed plumbing and electrical issues to make the property fully rental-compliant.
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20 January 2025 | 19 replies
If more important items such as plumbing, electric or mechanicals are not working we will also address that for them but typically we avoid those kinds of properties if its to extensive.For those who are familiar with wholesaling you fully understand that to wholesale none of what we just mentioned above is necessary or obligated to be done in order to wholesale.
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31 December 2024 | 2 replies
Is it possible for her to buy the house/land then we subdivide the property (property has an approved preliminary plat for subdivision into 2-3 separate lots, electrical and pluming lines have been put in place for future development).
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31 December 2024 | 4 replies
Fire hydrants, sewer, water, road access, electric, flood way or plain, storm pond, storm sewer, setbacks, fencing, soil compaction, lot sizes, etc.3.
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6 January 2025 | 8 replies
And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.