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19 October 2021 | 1 reply
Go watch some sales, see who gets the property, follow the eviction of whoever is squatting there, see how they secure the property, and fix it up, estimate on your own, talk to them, maybe get a job working for them
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25 October 2021 | 3 replies
I estimate 350-500K in repairs and the ARV based on conservatives numbers at 8% cap is around 1.6 million.I have been "winging" it on my previous buildings to an extent but all of them turned out great with excellent cash flow and big forced appreciation.
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19 October 2021 | 1 reply
Back of the napkin, you can estimate them like so:Purchase price (or assessed value, whichever is newer) x .06 for a rental x millage which is often .45 or so, depending on the county and district.
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22 October 2021 | 11 replies
HOWEVER, today I just received an updated Loan Estimate with a $1260 reduction in the lender credits.
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22 October 2021 | 2 replies
While trying to estimate the home owners insurance, I ran into two companies telling me they won't insure the property because it is in fire risk area.
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27 October 2021 | 8 replies
Then they tell me to expect a call from one of their property managers regarding the work.Days later I get a bill for $1850 from the property management company and it says the property manager called me and I approved the work.The thing is, the property manager never called me, no one ever gave me a quote (only an estimate), and I never approved this expense, and yet they did the work and sent me the bill anyway.What should I do?
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20 October 2021 | 1 reply
Make sure that you're being extra conservative in your estimates and the money still works.
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25 October 2021 | 10 replies
I'm estimating an evg rehab cost in the 30-50k range.Are other Phoenix investors experiencing this same things?
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21 October 2021 | 5 replies
Choose another contractor for an estimate for a new system like you already have.
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20 October 2021 | 3 replies
and I spoke with the bank earlier today and confirmed that we should qualify for a jumbo loan that would allow us to make this work out.The place I am getting stuck is trying to figure out any kind of realistic estimates for whether the three cabins are actually able to generate enough positive cashflow to allow us to eventually step back from our jobs and/or running the numbers for everything in a way that I would feel confident enough to try commit to something like this.Would it make better sense to try and start out with something more simple/conservative?