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7 July 2018 | 7 replies
However, I hope you budgeted in losing the existing tenant, repairs, and vacancy because any major increase of rent = this reaction.
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11 July 2018 | 9 replies
So here are the numbers...House current value - $1 millionARV (every room needs updating) - $1.35-1.4 millionUpdate/Repair estimate retail finishes - $150KUpdate/repair estimate rental grade finishes - $30KThey both don't have money to update the home to sell for top dollar, so they are willing to take the $1 million and move on.
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23 July 2018 | 28 replies
Some are good with monthly phone calls, but not more frequent.
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7 July 2018 | 3 replies
When walking down the street you stick out like a sore thumb and the first person that sees you walks up to you trying to hustle you for money, borrow your phone, etc.
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9 July 2018 | 20 replies
I rent out the spare bedrooms, which covers the mortgage, taxes, insurance, and repair reserve.
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7 July 2018 | 3 replies
If I saw any signs of pipes, holes, or repairs to foundation I would get it scanned.
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7 July 2018 | 4 replies
If the property has any issues that would cause someone to not be able to live there (roof, plumbing, broken windows, holes in the walls, etc.) those items would come back subject to repair on an appraisal and need to be fixed before you can get any type of mortgage financing.
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11 November 2019 | 2 replies
I thought about Craigslist, but my experience with folks on Craigslist with updates and repairs for my own home were, uh...
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10 July 2018 | 8 replies
I wrote a post on how to find comps and calculate ARV that you might find helpful: https://www.biggerpockets.com/blogs/8814/68395-how-to-find-real-estate-comps-and-calculate-after-repair-valueTo answer your major concern, when you get comps that have a large range, there’s usually a reason that you have to dig deeper for.
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7 July 2018 | 7 replies
It needs a $15k structure repair right now?