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10 January 2025 | 13 replies
This way I get paid upfront for my work 1-2k plus I know I have another payday at some point in the future if the deal closes.The costs to fully develop a property and sell for near retail usually involves the costs below and takes 2-6 months or more in some cases, but the profits can be huge if you're working in markets where land costs are high:Title 200-400Legal 500-2000 depending on zoning issuesIf wetlands are present AND its a buffer zone project: 2000-5000Perc & septic design if needed 1500-3000Treescaping & cleanup for retail sale 500-1500Selling costs of 6%I tend to stay clear of properties that need more than the above expense items.
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2 January 2025 | 18 replies
Whether we agree with these items or not, the following are inflationary government policies: stimulus, student debt relief, tariffs, increased child tax credits, limited immigration, and big government deficit spending.
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27 December 2024 | 8 replies
Because looking at the T12 from a 100 units will be different from 20 units will be different from 5 units in some of the line items (account names).
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5 January 2025 | 18 replies
As expenses fluctuate (property taxes, insurance, maintenance items, etc), the cash flow is up and down and unreliable.
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2 January 2025 | 13 replies
I believe people should have everything they need to cook with and nice kitchen items to use to cook.
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26 December 2024 | 2 replies
That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.
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29 December 2024 | 24 replies
If I scale to a point where I no longer have time and have to outsource, that line item is already accounted for and the property will still be profitable.
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29 December 2024 | 14 replies
Having a GC that will provide good documentation, itemized receipts, etc. will make the process much easier I've noticed.
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13 January 2025 | 30 replies
You can do some inexpensive value ad items.