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1 October 2018 | 13 replies
Here some interesting info and numbers about the project.Acquired: Feb 2018Rehab - 2 - 3 months.Listed - May 2018Sold - Sep 2018Purchased - $115,000Financed - $110kRehab - $63k (investor contributoin.Sale Price: $224,900 with seller contribution $6kAfter all expenses Final Profit - $21k - 33% Highlights - Removed big pool and created big back yard, did major foundation repair to get to tolerance level, removed walls to make the kitchen open, all new flooring, new roof, new appliances and whole shebang.
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8 October 2018 | 6 replies
Figure out how much it would cashflow as a rental, with factoring for vacancies, cap ex, repairs, and management, and hoa.
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28 September 2018 | 0 replies
I'm trying to get some repair estimates, any reputable foundation repair companies that anyone can recommends?
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4 July 2018 | 7 replies
They had the obvious appearance of abandonment and need for repairs!
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28 June 2018 | 7 replies
I would definitely research individual costs for rehab projects (floors, bathrooms, kitchen repair, etc.)
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3 July 2018 | 21 replies
I pride myself in the quality housing I provide for my tenants.
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5 July 2018 | 110 replies
Greg: First, do not get discouraged by anyone, someone else is doing it so you can, not going to be easy.If not done already I suggest to look into this:Enforce that PM uses a great website for rental screening, ones with a background check and choose the best tenants possible.Review you leases to close any pitfalls and enforce the lease to the T.Keep the units in good shape and keep extra cash reserves ( fixing + trip expenses )Tiger than normal lookup on the PM ( have second PM line up ), vacancies, unit showing costs, repairs, fees, etc, require a once a week normal operations report and a once a month full operations report.Family, friend on virtual assistant that regularly drive by the property and reports to you, or if cash flow allows and deem beneficial you can install security cameras and remote view activity on the property, nowadays there are lots of options.Check if feasible to get a home warranty plan for the units so some pain issues are self-managed by the tenant via a phone call to the warranting companyIn which city/state is the property?
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28 June 2018 | 0 replies
The market rental rate for the units (after repair) is 625/mo, this coming from another building across the street with equal sized, clean, painted, with newer cabinets The tax assessed value is 72000.Unsure of repairs needed yet but if I guestimate 12/sf i'm looking at about 25000 (I'll verify this before bidding)Comparable sales do not reflect much due to the number of sfh surrounding the property.
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18 July 2018 | 16 replies
I want to BRRRR it(maybe holding off on repairs) but have hit some road blocks.