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23 November 2018 | 2 replies
Property includes 2 small sheds, landscaped yard, hand made porch swing.Sale also includes next door lot (0.32 acres).Information from Wholesaler:ARV: 145,000Repairs: 22,000 (13,000 for repair to septic system, $9,000 for general updating)Asking price: 65,000Comps provided by wholesaler:2/1.5/976 $157,000 8/26/182/2/1200 $138,000 9/26/182/2/1536 $134,900 10/31/183/1/1176 $145,000 2/1/840 $125,000 11/5/17I pulled my own comps from Zillow:2/1/900 $79,000 8/2/182/1/1176 $95,000 9/25/182/1.5/976 $157,000 8/26/182/1/1181 $119,000 7/31/182/1/900 $30,000 10/2/182/1/960 $100,000 7/13/18Based on my comps, houses are selling for $94.61/sq ft which would make the ARV $95,370, not the $145,000 he listed.
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3 December 2018 | 5 replies
That is why I am leaning towards some type of equity or payout for bringing the dealI am familiar with seller finance, syndications and other avenues.Its hard to know who to trust when talking to "buyers" in the digital landscape.
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25 November 2018 | 20 replies
I have redone the landscaping, trimmed trees and bushes, upgraded the swamp coolers to HVAC dual-pack units, upgraded single pane aluminum windows to dual pane, and removed carpet in place of laminate flooring.
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31 May 2019 | 7 replies
The latter method statistically nets the seller less money--buyers sense a highly-motivated seller and have all the reasons in the world to push hard for an even better deal.
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27 November 2018 | 10 replies
1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance a) Property Hazard Insurance b) Flood Insurance c) Earthquake Insurance d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy) a) Water § Sewer § Garbage b) Electricity c) Natural Gas d) Propane9) General Maintenance (usually 5%) a) Upkeep § Landscaping b) Snow removal c) Repairs d) New Appliances10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...
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7 December 2018 | 6 replies
2) I have traditionally paid my landscaper by checks, but I have no receipts.
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26 November 2018 | 1 reply
I looked up all the statistics about my area and found the place with the highest growth potential.
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2 December 2018 | 7 replies
OK BPI closed on a SFR that needs new cabinets and I’m adding a bedroom and finishing the basement along with some landscaping.
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9 December 2018 | 6 replies
It takes massive layoffs and statistics that are several months behind for people to see that we are at the top of the market.It is like watching a big ship turn around.
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9 May 2019 | 23 replies
@Luke Capozzoli*Disclaimer: I am not an investor myself but I'm very familiar with the real estate landscape in my area*I am currently a student in Ann Arbor and just about every property in my area are rental properties for off campus student housing.