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12 December 2024 | 7 replies
Just go through them, select the renovated/closely matching ones, and enter them into a model.Here's my fix & flip model, you can see the comps entered and some quick stats below them: Then I use that comp data to adjust the Sale Price in the model to what I estimate it will be (double check the resale $/sf is in-line with the comps), then adjust the purchase price until I hit my desired return level.
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16 December 2024 | 11 replies
I would recommend flying out there, getting to know the area on a detailed level and talking to local investors (someone not trying to sell you anything).
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16 December 2024 | 2 replies
It’s a bit like playing Monopoly but with real addresses and real money.. and when done right, it can feel like unlocking a secret level in the real estate game.But hey, no point pretending it’s all sunshine and roses.
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12 December 2024 | 0 replies
The problems with the project mostly stemmed from the crawl space work, which required shoring, replacing structural members, leveling floors and insulation.
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9 December 2024 | 1 reply
It is in a northern MI Downtown area (opp zone) in a county seat with 2 hospitals, had it re-zoned to mixed use, and is considered blighted which makes it eligible for MEDC funding of up to 50% of project cost.It is 8k sqft (4,000 each level) with the lower level being a walkout (top level is street level with sloped drive down to the rear of the building).
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13 December 2024 | 9 replies
That can vary depending on the market and the level of service provided.Hope this helps!
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11 December 2024 | 10 replies
Calling the appraiser to see what you can do to push it up a "C-Level" would be smart before doing any reno also, might only need a few things to make it far more valuable in the eyes of the bank.I've heard of a tactic for figuring out demand, which is to put up a dummy or coming soon listing on facebook marketplace and see the amount of activity you get on it.
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16 December 2024 | 13 replies
BUT....With the rates dropping ( and they will) Buyer interest will increase and the markets will immediately start to level first , then increase( prices) as both buyers and sellers see the market stability and value.
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18 December 2024 | 23 replies
I will not use the equity from my personal residence to invest in real estate, sure it can make more money but its just my level of risk tolerance.
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11 December 2024 | 4 replies
Would we be able to spend $1k in aquisition costs to get to that level?