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28 June 2019 | 0 replies
Our house was originally a 2/1, but the previous owners converted the attic (very nicely-- solid work) to make another bedroom, bathroom, and a small office space.
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7 February 2022 | 24 replies
Here's the quick overview of my numbers and projections with more detail in screenshots of my excel spreadsheets:Purchase Price: $365,000Price Per Unit: $60,833Two-Family: $121,667Four-Family: $243,333Rehab Estimates: $60,000 ($10K/unit) Estimated After Repair Value: $575,000Loan: 90% LTV (of purchase price) @ 12% interest for 6 months with 2 points paid on exitProjected Cash-On-Cash Return: 29.35%Projected Internal Rate of Return: 51.02%Here's a picture of the current rent roll (two units were vacant) and my projection of the rent rollCurrent Rents: (more details considering the numbers don't tell the whole story)Two-FamilyUnit 1 (2BR+): VACANT - son-in-law lived here and moved out prior to closingUnit 2 (2BR): VACANT - empty when I walked it... he was "finishing" itFour-FamilyUnit 1 (2BR): $200/week H&HW included - one bedroom is painted entirely black, multiple windows are broken, and other weird things...Unit 2 (1BR): $780/month H&HW included - only "normal" tenant in the buildingUnit 3 (Studio): $150/week H&HW&E included - complete hoarder... floor to ceiling with junk except for a small path from his bed to the bathroom and the fridgeUnit 4 (Studio): $155/week H&HW&E included - smokes in her apartment without a care in the world... had a lit cigarette while I was walking throughProjected Rents:Two-FamilyUnit 1 (2BR+): $1,400/month (OWNER-OCCUPIED) nothing includedUnit 2 (2BR): $1,200/month nothing includedFour-FamilyUnit 1 (2BR): $1,200/month H&HW includedUnit 2 (1BR): $1,100/month H&HW includedUnit 3 (Studio): $1,000/mo H&HW&E includedUnit 4 (Studio): $1,000/mo H&HW&E includedHere's how the numbers broke down for cash in and cash out:Actual and projected expenses for the properties (I was given a single sheet of paper with hand-written numbers).
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28 June 2019 | 0 replies
Kitchen , bathrooms, living room?
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29 June 2019 | 1 reply
On a 3b/2b I know that its going to cost me in the neighborhood of $30k-$35k based on redoing both bathrooms and the kitchen as well as touching everything in the house.
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8 July 2019 | 2 replies
We put in a new kitchen, bathroom, flooring, opened up the floor plan, new heating system and roof.
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28 June 2019 | 0 replies
Currently house hacking with opportunity for robust cash flow in the near future. 9 Total bedrooms and 4 bathrooms with spacious basement.
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28 June 2019 | 0 replies
.- one unit is rehabbed but needs bathroom, kitchen, floors, appliances, doors, trim, and paint done.
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29 June 2019 | 0 replies
I am looking to hire a design engineer in Waco, TX for bathroom products.
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29 June 2019 | 0 replies
We added AC, updated the electrical system, made the back yard a place to hang out, put up a new fence, renovated both bathrooms, painted the entire house inside and out, did tile and laminate flooring in common areas and had carpet installed in the bedrooms.
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29 June 2019 | 1 reply
We added AC, updated the electrical system, made the back yard a place to hang out, put up a new fence, renovated both bathrooms, painted the entire house inside and out, did tile and laminate flooring in common areas and had carpet installed in the bedrooms.