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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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4 April 2024 | 21 replies
You are tricking people to open it.
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4 April 2024 | 8 replies
I am mostly just trying to discover any tips or tricks or identify any strategies that I could potentially be missing out on.
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2 April 2024 | 2 replies
Any tricks and tips are welcomed as I start my real estate journey.
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2 April 2024 | 7 replies
A 2 day minimum for both Friday and Saturday does the trick most of the time.
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3 April 2024 | 83 replies
So, what are some of your tricks for working with appraisers and appraisals?
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1 April 2024 | 27 replies
Next week I'm going for the ol' bandit sign trick!
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2 April 2024 | 58 replies
Instead of saying tiny home using the terms mobile home and resort cabins does the trick.
31 March 2024 | 1 reply
Tricks, loop holes?
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30 March 2024 | 6 replies
Hello all. I am new to the real estate investing community. I have a tract of land in Eastern NC that I own outright an am looking and different ways to maximize profit while maintaining the land. My current ideas tha...