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18 February 2018 | 5 replies
The inside gas re-routing cost will heavily depend on how accessible the existing lines are and the configuration of your unit(s).
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18 February 2018 | 8 replies
Going to clean it up for now and re-caulk and then look at some tile options.
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18 February 2018 | 2 replies
Jim Goebel great advice re: just using your own name.
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5 March 2019 | 46 replies
It looks like you have a well aligned set of attributes all contributing to your RE success, only furthering my belief on building the right team.
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13 June 2018 | 5 replies
Foundation is great but it turns out roof is leaking even thought it was done in 2011, pulled my offer and talked to the owners who said he'd do the work and will call me again, he's also going to deal with other annoying stuff (re-do all 4 electrical panels, insulate windows, insulate the roof too).If he really does all of this and does it great my next offer will have no conditions and we will go forward.
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20 February 2018 | 8 replies
Request the tenants leave, flip to 3 bedroom, and rent to new tenants at $986If I convert from 2 BR to a 3 BR, I've calculated a payback period of 2.3 years... here's the high-level of how I came to that number:Annual Opportunity Cost:3 BR vs 2 BR Rent = $2,790My Time (expect less needy tenants) = $1,183TOTAL OPPT COST= $3,973 <-- This is a favorable numberCost to get unit ready as 3 BRTotal to flip = $7,551 (includes paint, new floors, converting basement to bedroom, etc) 2 Months lost rent = $1,510 TOTAL UPFRONT COSTS $9,061 <-- This is an unfavorable numberPayback Period = $9,061 / $3,973 = 2.3 years (Note if I'm conservative in my nubers, this becomes 3 years)Couple more things to note, they're set up on re-occurring payments and have not missed a payment.
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20 February 2018 | 5 replies
I’ve always done some other business or RE deal with a person before i engaged in a wholesale deal with them.
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20 February 2018 | 55 replies
It keeps tabs on the property, and also you keep it up to par so if they ever move, it'd be easy to re-rent it.
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19 February 2018 | 15 replies
thats a question best researched with a RE attorney who knows tenant/landlord laws, and probably worth speaking with some local PM's in the area as well about their experience.
25 February 2018 | 19 replies
The excitement and beauty of RE investing is that everything can be a risk, depending on who you ask.