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4 January 2025 | 3 replies
Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.
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4 January 2025 | 11 replies
Start with a legal posted notice from your favorite eviction attorney.
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27 December 2024 | 3 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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1 January 2025 | 2 replies
With its lower price points and strong rental demand, it’s becoming a favorite among BRRRR investors.
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31 December 2024 | 0 replies
These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.
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10 January 2025 | 13 replies
You need to minimize upfront expenses because 100% of your investment is at risk and lost if the lot is not buildable.My favorite strategy is to locate the property and tie it up for usually no more than $100 for a period of 8-12 months, analyze it myself and if I believe it to have a chance at being buildable I create a permitting plan and market the property to other investors/builders willing to take on the permitting risk.
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23 December 2024 | 5 replies
And here in Chicago I always check my favorite local homicide tracker whose name violates usage restrictions.Is there other favorite metrics out there that I am missing?
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7 January 2025 | 22 replies
If you are looking to do MTR, Portland is my favorite market.
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4 January 2025 | 7 replies
Hi Pixel, Check out this article about how DSCR loans play into the refinance part of the BRRRR method.
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2 January 2025 | 3 replies
I rented to ACU students and used the rent by the room method.