If your looking at a property, how would you estimate repairs ?

CASH/FINANCING3. local real estate attorney who can do your closings4. title company5. inspector6. contractor (if you won't be doing repairs)7. information - from local businesses, chamber of commerce, local developer who knows the area8. a realtor who can possibly hook u up with looking at other properties in the area9. plane tickets to go view 30 - 50 properties over a few days.10.

All of that money is going toward repairs and improvements on those homes.

I would also recommend that you get more than one contractors estimate on the repairs.

Buying properties for a low enough discount would be one of the main things you would learn after doing a rehab or two on your own.In a normal market, a good formula for a rehab is taking 70% of After Repaired Value (ARV) and then subtracting repairs from that number.For example if the property will sell for $100,000 all fixed up, and it needs $15,000 in repairs, then you would take 70% of $100,000, which is $70,000, and then subtract the $15,000 from that.

They are asking for 123,000.00 and the value of the property repaired is at least 240,000.00.

For taxes, insurance, repairs, etc....NO IDEA Can anybody give me a general guideline to follow?

what's the value of the building after repairs?

Price/ Unit $ 52,500 Price/ Sq. ft $ 74.46 Rental Income Scheduled Rental Income 48,000.00 ( per year) Vacancy (0%) 0 Effective Rental Income 48,000.00 Service and Other Income 1,615 Effective Gross Income 49,615.00 Operating Expenses Utilities: 4,320.00 Repair & Maintenance 1,300.00 Turnover Costs/ Cleaning 3,000.00 Taxes 2,568.00 Insurance 1,750.00 Total Operating Expenses 12,938.00 Net Operating Income 36,677.00 Debt Service 22,884.00 Cash Flow 13,793.00 Cash Flow/ Month 1,149.42/mo Cap Rate 9.178% 4 2-bedroom units rent for $550 4 1-bedroom units rent for $450 Can anyone help me figure out if this is a worthwhile deal?

If your comps and repairs are accurate, I would say that its a good deal.