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21 February 2018 | 1 reply
Does BP have documents for determining a properties repair cost and documents for wholesale deals and purchasing for fix and flip?
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21 February 2018 | 2 replies
I own a rental property free and clear and am want to pull out 25,000 for repairs in order to flip it.
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21 February 2018 | 8 replies
One, there is something wrong with the property that would take so much to repair that it’s not a good investment for them.
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15 July 2018 | 22 replies
Sometimes you can find junker mobile homes that someone will sell to you for $1, but they will need significant repair and are quite rare to find.
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22 February 2018 | 12 replies
However, once you factor in utilities, repairs, capex, and management, your cashflow would be little if anything at all.That's a crapton of money to be putting to work in order to get no cash flow.
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20 February 2018 | 1 reply
Hi All, here's a potential deal I would love some opinions on considering a fundamental decision must be made for it to be viable.Triplex currently listed at $127kDown Payment: $31,750Gross Monthly Rent: $1,500 (500 each)Estimated Expenses:Mortgage: $500Property Tax: $80Property Management: (10%) $150Water + Trash: $150Repairs (5%) $75Capital Expense (10%) $150Vacancy (5%) $75Total: $1,180 MonthlyCash on Cash return: $3,840 (About 12% return on investment)Property was built in the 1930's and states "could be rented for higher with work/repairs" Average comp rents seem to be around $600-700If I could rent each unit for $600, updated ROI could be up to around 20%...
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20 February 2018 | 2 replies
In most cases the bank will want 20% down so your mortgage will be around $280k and over 20 years thats around $1800 a month off the top of my head. plus account for a 6% vacancy rate and $2400 a year in repairs and calculate how much the HOA fees are and insurance and the real estate taxes.
3 March 2018 | 5 replies
I figure I can use a property management company for any needed repairs or emergencies if something happens while I am gone for work but otherwise my wife is available by phone consistently.
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20 February 2018 | 3 replies
Some costs (repair the dish washer, carpet cleaning at unit turnover, etc.) are pretty fixed regardless of rent level.
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21 February 2018 | 1 reply
It may cash flow for a while, but then a big repair hits and your sunk.