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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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1 August 2024 | 4 replies
We are doing some new vinyl plank flooring (not through the entire house), paint on the main floor, minor electrical work, replacing a door, new ceiling fan, minor plumbing, etc..
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31 July 2024 | 11 replies
For those of you that have properties with private pools, how do you compensate for the increased electric bill from heating the pool, or do you just absorb the cost?
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30 July 2024 | 6 replies
I know in Washington state a home owner can do their own work including electrical and plumbing, but as you pointed out has to live in the property for 1 year after completion.If you get licensed as a contractor (in WA state it takes some paperwork, filing fee and insurance/ bond, no test, no experience etc.. ) Then you do the work under you contractors license and no holding period needed.
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31 July 2024 | 11 replies
Dwelling suffered fire damage throughout the interior and exterior affecting framing members, electrical, drywall, and insulation.
1 August 2024 | 125 replies
Two to three months right before she had to leave her amazing job didn’t stop my electric bill from being so unusually high my electric company even contacted me to have my home checked out by a professional electrician for anything faulty.
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31 July 2024 | 46 replies
I was fine but folks basically wanted to rent for less than my cost of electricity... haha so that one was a failure but the 2007-11 years which were pretty apocalyptic :-) I don't think Margaritaville is ever going to make sense as an investment property because of the prices and the HOA fees.
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31 July 2024 | 3 replies
These inspections should include electrical, plumbing, and septic/sewer contractors (to address the underground infrastructure) but also can include pool, home/building inspections, asphalt, and more, depending on the park.
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30 July 2024 | 0 replies
new plumbing, electrical, ceiling, walls, porch, patio etc.
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29 July 2024 | 1 reply
Good morning, the following property is up for sale at $250k. 114 S Broadway St, Toledo, IA 52342 | ZillowThe seller has 'described' it as follows:"The property features a new roof and updated electrical work completed two years ago at a cost of $120,000.