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21 August 2015 | 2 replies
Say if I run an outside electrical, exposed pipes need to be rigid if above ground, and PVC for below, but it doesn't say I cant run them all above ground instead of embedding it on the ground, so I could.
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9 September 2015 | 2 replies
I have also done electrical and satellite work.
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21 August 2015 | 5 replies
Ran into all kinds of issues with drainage, electrical, moving the washer and dryer to new location, on and on.
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22 August 2015 | 9 replies
So the tenant pays electric.
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21 August 2015 | 0 replies
Pavement, sewage, electricity...Where do I begin?
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23 August 2015 | 7 replies
I'm missing a electrical panel cover/door on a old panel.
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27 August 2015 | 5 replies
Its the roof and plumbing and water heaters and updating the electrical.
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22 August 2015 | 0 replies
Foordmore Rd house: Triplex only one unit is completed 2 others need finish workPurchase Price$60,000.00 Down Payment (25% Down)$15,000.00 Improvement Ratio (Value of Land subtracted from purchase price)82%1st Loan$75,000.00 1st Interest Rate on Loan6.00%1st Term of Loan20 2nd Loan Amount2nd Interest Rate on Loan5.25%2nd Term of LoanYrs of Depriciation27.5Expected monthly Rental Income$3,200.00 Expected Annual Rental Income$38,400.00 Vacancy/Collection losses %10%Property Tax$2,842.00 Insurance$2,400.00 Repairs/Maintenance (10% of Gross)$3,840.00 Electricity$1,200.00 Gas$-Oil$-Water/Sewer$-Trash$-Advertising$-Management Fees (10% of Gross Income)$-G&A$200.00 Annual Increase in income1.0%Annual increase in Expenses3.0%Annual Increase in property Value2.0%investors Tax Bracket28.0%Self Employment tax0.0%Total Tax Rate28.0%Immediate Cash Improvements$37,775.00 Total Cash Investments (Down payment + Rehab+Closing Costs)$55,875.00 Total Purchase Price (rehab+purchase price+closing costs)$100,875.00 Loan - initial Cash investment$19,125.00 Buying Cost %$3,100.00 Sales Cost %9.0%Estimated Value After Capital improvement$100,000.00 Summary:1st LoanLoan Amount$75,000.00 Interst Rate6.00%Term of Loans20 Monthly Principal and interest$537.33 Yearly Principal and interest$6,447.91 Annual Operating IncomeYr 1Gross Operating Income$38,400.00 Less Vacancy/Collection (10%)$3,840.00 Effective gross income$34,560.00 Annual Operating ExpensesProperty Tax$2,842.00 Insurance$2,400.00 Repairs/Maintenance$3,840.00 Electricity$1,200.00 Gas$-Oil$-Water$-Trash$-Advertising$-Mangement Fee$-G&A$200.00 Net Operating Income$24,078.00 Market Value of Property$100,000.00 Capital Rate of Return (NOI/Market Valve)24.1%Cash FlowNet Operating Income$24,078.00 Yearly Principal and Interest$6,447.91 Cash flow before tax's$17,630.09 Monthly Cash Flow before taxes$1,469.17 TaxesNet Operating Income$24,078.00 Annual interest$4,500.00 Annual Depreciation Improvement$1,789.09 Taxable Income$17,788.91 Income Tax Due$4,980.89 Cash Flow after Taxes$12,649.20 Monthly Cash Flow After Taxes$1,054.10 Cash on Cash23%Center St House: duplex fully rented needs new roof and some minor plumbing workPurchase Price$40,000.00 Down Payment (25% Down)$10,000.00 Improvement Ratio (Value of Land subtracted from purchase price)82%1st Loan$45,000.00 1st Interest Rate on Loan6.00%1st Term of Loan20 2nd Loan Amount2nd Interest Rate on Loan0.00%2nd Term of Loan0 Yrs. of Depreciation27.5Expected monthly Rental Income$2,125.00 Expected Annual Rental Income$25,500.00 Vacancy/Collection losses %10%Property Tax$2,500.00 Insurance$1,800.00 Repairs/Maintenance (10% of Gross)$2,550.00 Electricity$1,920.00 Gas$-Oil$1,867.57 Water/Sewer$3,000.00 Trash$-Advertising$-Management Fees (10% of Gross Income)$-G&A$300.00 Annual Increase in income2.0%Annual increase in Expenses3.0%Annual Increase in property Value0.0%investors Tax Bracket28.0%Self Employment tax0.0%Total Tax Rate28.0%Immediate Cash Improvements$16,060.00 Total Cash Investments (25% ARV + closing costs)$17,500.00 Total Purchase Price (Rehab+purchase price+closing costs)$58,560.00 Buying Cost %$2,500.00 Sales Cost %9.0%Estimated Value After Capital improvement$60,000.00 Summary:LOAN PMTLoan Amount$45,000.00 Interest Rate6.00%Term of Loans20 Monthly Principal and interest$322.40 Yearly Principal and interest$3,868.75 Annual Operating IncomeYr. 1Gross Operating Income$25,500.00 Less Vacancy/Collection (10%)$2,550.00 Effective gross income$22,950.00 Annual Operating ExpensesProperty Tax$2,500.00 Insurance$1,800.00 Repairs/Maintenance$2,550.00 Electricity$1,920.00 Gas$-Oil$1,867.57 Water$3,000.00 Trash$-Advertising$-Management Fee$-G&A$300.00 Net Operating Income$9,012.43 Market Value of Property$60,000.00 Capital Rate of Return (NOI/Market Valve)15.0%Cash FlowNet Operating Income$9,012.43 Yearly Principal and Interest$3,868.75 Cash flow before tax's$5,143.68 Monthly Cash Flow before taxes$428.64 TaxesNet Operating Income$9,012.43 Annual interest$2,700.00 Annual Depreciation Improvement$1,192.73 Taxable Income$5,119.70 Income Tax Due$1,433.52 Cash Flow after Taxes$3,710.16 Monthly Cash Flow After Taxes$309.18 Cash on Cash21%Church St house: Unoccupied, needs total rehab but has 3 units:Purchase Price$10,000.00 Down Payment (25% Down)$2,500.00 Improvement Ratio (Value of Land subtracted from purchase price)82%1st Loan$45,000.00 1st Interest Rate on Loan6.00%1st Term of Loan20 2nd Loan Amount2nd Interest Rate on Loan0.00%2nd Term of Loan0 Yrs. of Depreciation27.5Expected monthly Rental Income$2,600.00 Expected Annual Rental Income$31,200.00 Vacancy/Collection losses %10%Property Tax$2,800.00 Insurance$1,200.00 Repairs/Maintenance (10% of Gross)$3,120.00 Electricity$2,880.00 Gas$-Oil$2,800.00 Water/Sewer$4,500.00 Trash$-Advertising$-Management Fees (10% of Gross Income)$-G&A$300.00 Annual Increase in income2.0%Annual increase in Expenses3.0%Annual Increase in property Value0.0%investors Tax Bracket28.0%Self Employment tax0.0%Total Tax Rate28.0%Immediate Cash Improvements$41,200.00 Total Cash Investments (25% of ARV+closing costs)$16,600.00 Total Cost Purchase Price + Rehab + Closing Costs$52,800.00 Buying Cost %$1,600.00 Sales Cost %9.0%Estimated Value After Capital improvement$60,000.00 Summary:LOAN PMTLoan Amount$45,000.00 Interest Rate6.00%Term of Loans20 Monthly Principal and interest$322.40 Yearly Principal and interest$3,868.75 Annual Operating IncomeYr. 1Gross Operating Income$31,200.00 Less Vacancy/Collection (10%)$3,120.00 Effective gross income$28,080.00 Annual Operating ExpensesProperty Tax$2,800.00 Insurance$1,200.00 Repairs/Maintenance$3,120.00 Electricity$2,880.00 Gas$-Oil$2,800.00 Water$4,500.00 Trash$-Advertising$-Management Fee$-G&A$300.00 Net Operating Income$10,480.00 Market Value of Property$60,000.00 Capital Rate of Return (NOI/Market Valve)17.5%Cash FlowNet Operating Income$10,480.00 Yearly Principal and Interest$3,868.75 Cash flow before tax's$6,611.25 Monthly Cash Flow before taxes$550.94 TaxesNet Operating Income$10,480.00 Annual interest$2,700.00 Annual Depreciation Improvement$298.18 Taxable Income$7,481.82 Income Tax Due$2,094.91 Cash Flow after Taxes$4,516.34 Monthly Cash Flow After Taxes$376.36 Cash on Cash40%
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23 August 2015 | 2 replies
Home Specs: 3/1.75 1500 sq ft, 5400 sq feet lotList price: $375,000Purchase price: $340,000ARV:$440,000 (comps verified with homes sold in 1/4 mile radius in last 30 days, not to mention a few pending listing at $460ish)Rehab: $20,000-Scope of work: -Paint int and ext-finish original hardwood floors 1200 sq ft-new windows- install 1 ext double door -landscape back and front yards -bath1: new shower pan/tile, vanity, bathroom flooring, light fixture -bath2: epoxy coat tub and add tile border, new vanity, new flooring, light fixture -3 new mirrored closet doors-1 water heater-kitchen tile-retouch white cabinets and add modern hardware-5 int doors-door hardware, hinges, electric plate coversHard Money Loan Terms: $300,000 with 3.5 points and 12% interest$40,000 cash for purchase$20,000 cash for rehab$10,500 cash for hard $ points$9,000 holding for 3 months (1.5 month rehab, 1.5 month market and sale)The largest concern is the shower pan in the bathroom caused flooding and destroyed a portion of the bathroom subfloor, I made sure to mention to my inspector that I need him to verify that there are no signs of mold under the home.
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25 August 2015 | 24 replies
Home Specs: 3/1.75 1500 sq ft, 5400 sq feet lotList price: $375,000Purchase price: $340,000ARV:$440,000 (comps verified with homes sold in 1/4 mile radius in last 30 days, not to mention a few pending listing at $460ish)Rehab: $20,000-Scope of work: -Paint int and ext-finish original hardwood floors 1200 sq ft-new windows- install 1 ext double door -landscape back and front yards -bath1: new shower pan/tile, vanity, bathroom flooring, light fixture -bath2: epoxy coat tub and add tile border, new vanity, new flooring, light fixture -3 new mirrored closet doors-1 water heater-kitchen tile-retouch white cabinets and add modern hardware-5 int doors-door hardware, hinges, electric plate coversHard Money Loan Terms: $300,000 with 3.5 points and 12% interest$40,000 cash for purchase$11,000 possible payout for selling agent commission$9,000 closing cost (will attempt to have seller pay closing)$10,500 cash for hard $ points$9,000 holding for 3 months (1.5 month rehab, 1.5 month market and sale)The largest concern is the shower pan in the bathroom caused flooding and destroyed a portion of the bathroom subfloor, I made sure to mention to my inspector that I need him to verify that there are no signs of mold under the home.