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16 May 2016 | 1 reply
Assuming 6 months for the estimates bellow.Want to know if I am missing something ... advice welcomed.BTW - need hard money for this one if you have advice on this - welcome it is.Target purchase price: $230KARV: $360K (maybe a bit more)Acquisition estimate:Price: $230,000Closing cots (1%): $2,300My commission will be rolled into the deal (3%): -$6,900Total Acquisition cost: $225,500Repairs (it is a 3/2 with) 1488 sq ftKitchen Cabinets: $15,000Floors ( a descent ceramic): $4,000Painting and baseboard. $5,000 - inside + outsideWindows (10 windows): $10,000Light fixtures: $1,0002 baths (small baths): 6,000doors: 1 main door, 2 exterior doors and 5 interior doors: $2,000Driveway reseal, roof cleaning and elastomeric coating (flat concrete tile): $3,000garden and sprinklers (they appear to be OK but need minor tuneup): $3,000 - 8500 sq lot. mainly re-sod and some shrubs.a/c: $2,500Appliances: $3,000permits and inspections: $1,000we are looking for at 75 ARV hard money: $270KCarrying cost for 6 months: 13,500 at 10% interestUtilities for 6 months $1500.TOTAL COST: $294,400The sale:Expected sale price: $360,000 (on the lower end)Closing cost + commission: (5%) - i am the listing agent: $18000PROFIT: $46,100Inputs welcomed.Hard money lender welcomed.I have been a Broker for over 14 years, live in the neighborhood, know the market.
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31 January 2019 | 20 replies
There were unknown plumbing leaks as the system would not hold pressure, but we could not find any actual leaks.Then I had estimates from various contractors and chose the one I thought would be best.
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12 July 2016 | 17 replies
Our realtor provided us with a CMA based estimate and we would like to get a second estimate/CMA to be get a little bit more certainty.How should I go about that?
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1 June 2016 | 18 replies
(Side note: @J Scott wrote a couple good books on flipping houses and estimating rehab costs that might be worthwhile for you to check out here: http://get.biggerpockets.com/flippingbook/.) - You're missing a lot of other number in your total projected profit number.
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24 May 2016 | 19 replies
Once you accumulate enough of them, they take care of themselves.
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15 May 2016 | 5 replies
What's your estimated rehab budget look like?
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16 May 2016 | 7 replies
Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.
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19 May 2016 | 2 replies
I can’t get a detailed interior estimate until after the pre-scheduled inspection.
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18 May 2016 | 7 replies
Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.
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16 May 2016 | 9 replies
After construction, which I had estimated at 200-250k, it would have three 1 bed room apts, two 2 bed room apts, one 3 bed room apts and a coin operated laundry for the tenants.