I also would caution that $1000 a year for maintenance may be low when roofs up here get 20 years of service so really you should budget $600/yr for the roof alone not to mention water heaters, furnace, A/C units, appliances, flooring, paint, updating kitchens etc.

Is the kitchen livable?

Hi all, I'm based in the Los Angeles & Orange County, CA area and am interested in flipping homes.I have one quasi-BRRRR deal under my belt.About me:-Former Fortune 50 Commercial Real Estate Banker, specializing in distressed assets (restructuring/modifying notes, pursuing guarantors, foreclosing on assets)-Varying degree of experience in legal remedies (mediation, arbitration, bankruptcy etc.) with inside/outside counsel-$500,000,000+ RE transaction experience from west coast thru the mid-west-USC Business School Alum w/concentration in Real Estate Finance & Development-Licensed REALTOR in CA-Hands-on experience rehabbing real estate (full kitchen rehab, flooring, painting, spraying texture, removing load-bearing walls, bathroom rehab - have pictures from BRRRR project)[QUESTION] What is the proper approach to seeking a local mentor/partner on BP?

We let the seller know  that a brand new kitchen is not 3K  but 17K, that a brand new bathroom is not 500 dollars, it is 5000 dollars.

The house needs some serious repairs ie; new furnace and hvac work, new window, kitchen cabinets, and just a complete update as it hasnt been lived in in almost 16 years.

Bigger house - completely turnkey at purchase. 6 bedrooms, 2 bath, 1 kitchen.

The whole inside of the house needs to be gutted and redone and needs a back porch and a couple of windows need replaced.

For other expenses, HOA fees if any, supplies (cleaning, TP, papertowels etc) things for kitchen like spices and such.

Property had been flipped with contractor-grade kitchens a few years prior to purchase...so everything was pretty much turnkey, minus a new electric panel needed to add second washer/dryer hook ups in the basement.

You have a short window of Independence where this is socially acceptable before a lady comes into the picture.