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31 July 2024 | 13 replies
This is the biggest house I’ve flipped so far.the other two were about 1800 ft.² single-story homes.As far as ADU goes, I have already passed framing, electrical, plumbing, insulation, sheer wall, and HVAC and installed all windows & door.
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2 August 2024 | 4 replies
It ended up costing us $50,000 in additional expenses across 25 windows because once we changed the windows, we had to bring the framing around the windows up to 2023 code - which required removing the already installed windows and reframing each window down to how the studs were strapped with metal straps down at the floor.
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1 August 2024 | 1 reply
If you want to go a step above you can pay for an installed security system.
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31 July 2024 | 11 replies
I am sure there is some limit to that, such as the roof needs to be structurally sound.Can anyone share experiences with this product and its installation?
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1 August 2024 | 8 replies
We then spent around $30,000 out of pocket on renovations, including repairing the roof, upgrading the electric panel, installing new HVAC, and putting in a new kitchen.After completing the work, we refinanced with LendingOne using a 30-year fixed-rate DSCR product at around 7%, which resulted in a net cash-out of approximately $15,000.A couple of things to note:I'm out of pocket on this property for around $40,000 ($25k down, $30k rehab, minus $15k recaptured).I'm thrilled with this amount since it's far less than our "normal" 25% down strategy would require based on the higher value.The property appraised for $330,000 after the renovations.The key point for me is that this property is now netting around $800/month in cash flow.
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31 July 2024 | 11 replies
However, when I submitted paperwork for my first loan draw, the lender requested permits not only for the roof but also for the significant interior work underway, such as HVAC installations.
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31 July 2024 | 0 replies
Installing effective software for simplified documentation is critical for organizing and managing the massive amount of data involved in the due diligence process.Physical property inspections and unit walkthroughs are equally crucial as financial due diligence.
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30 July 2024 | 0 replies
If at all possible, never install mini-split, install duct work.Measure, Measure, Measure.
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31 July 2024 | 13 replies
So if June's rent was $2000, they'd pay $1000 on June 1 and another $1000 on June 15...if the agreement is to pay in two installments, both of those are on time.
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31 July 2024 | 11 replies
Plumbing was installed in violation of code requirements in effect at the time of installation....Violation 5: PermitsNarrative: Please obtain the following building permits.1.