All Forum Posts by: Alan F.

Hey, BiggerPockets community! I am proud to say that with a lot of advice and guidance, I finally purchased my first property. It is a duplex in a very nice Pittsburgh suburb close to hospitals, nightlife, shopping, and recreation areas. I'm very excited to dive into my first investment and do whatever it takes for it to reach its maximum potential. One thing that I am having trouble trying to analyze is how to tell when a renovation project is worth it. The house was built in the 1920's so there is a lot that could be done to make it more marketable and look/feel nicer but I don't want to go over the top when the money could be used better elsewhere. I'd love any opinions, resources, or advice!

Hi Ian, congratulations on your purchase. If possible in the future try to formulate your rehab scope as early as possible i.e. during the due diligence period. As far as rehabbing, the comps in that area have alot of answers. Try not to overbuilding for the area. "Normal sells" I'm unfamiliar with that area but duplexes may be a little harder to comp than SF if there are less of them. Value add is somewhat subjective but it could be comps have 1 more bathroom & if you could add a bathroom to equal comps and the purchase provides the margin to do it that can increase profit and lower DOM. Maybe the comps have a small porch & yours doesn't, that may add value. While rehabbing...maybe some easy tech like cat5 cabling, recessed lighting, IDK...that's why knowing your market is important. A duplex is a bit different in that you may be selling to a investor or house hacker, you've got a great exit strategy too if it doesn't sell & can hold it as a rental. LTR typically is taxed lower plus you have 2 doors in 1 hold. Sounds like you've got a great project. When building to sell try to make it appealing to the the widest pool of buyers.

Always get multiple estimates from contractors, and check the licensing board to make sure their legit.

BP has so many great tools, take advantage of all the resources including the search function as all of this information is outline far better than I can do.

Very Best!

0 Votes

Pittsburgh, Pennsylvania

Quote from @Craig Janet:

A zoning duct system may work, but how much more square feet are you adding to the system? Will it be able to handle the extra load, probably not. As others have mentioned the restrictions on a zone system will have stress out your system unless you have bypass ducts and that will be very inefficient. A zone system installation will be expensive and not efficient (if your current system can even handle it)

Unfortunately there isn't going to be a cheap solution. Either run mini splits in every room are a separate unit. If there is duct work already there I would bit the bullet and put a new system.

Very smart Craig, I've yet have resi building it would work on. Done em in smaller manufacturing environments for added offices but still had get a title 24 PE. Had alot of static delta challenges lol.

0 Votes

Nashville, Tennessee

Quote from @Will Adams Jr:

@Alan F.

Thanks for the information. I am somewhat lost, but thank you for your response, I found those Manuals and will read them and hopefully gain some of that tribal knowledge!

Actually that's engineering knowledfe..tribal knowledge is the old ways. I know people need fast bottom line info. There HVA" forums that can be helpful. Or maybe get multiple estimates but if you know more it may be useful to qualify a contractor. Again I didn't mean to make things worse for you, but as I've learned more in all aspects of business I'm able to make better decisions. Very best

1 Vote

Nashville, Tennessee

Quote from @Batin Apalan:

Hello Everyone!

I am a local real estate agent here in Jacksonville, Florida. I wanted to begin this forum and get insight on how investors are doing in the current market conditions. Is there anything you have adapted into your model over the past couple months that has gotten you results, or if looking for guidance on exit strategies that is not just flipping, please feel free to share them!

Welcome, I just flip currently. I used to have a exit strategy to hold for ltr if a house didn't sell but in light of being a landlord in CA nowadays it's a hard pass. My emphasis is on as fast a flips as possible.

2 Votes

Jacksonville, Florida

Quote from @Batin Apalan:

Hello Everyone!

0 Votes

Jacksonville, Florida

Quote from @Mary Eubanks:

What is the minimum rate of return I should be looking for to make a flip worth it?

As Ethan said there's so many factors to consider. On a lower price point in aim for larger %, I've got more wiggle room on more expensive properties. Some flippers are full time & some on the side so they may different business templates. Comps are important to me for answering my own questions. I always keep in mind a phrase I was taught "normal sells"

2 Votes

Dallas, Texas

Quote from @Will Adams Jr:

Quote from @Alan F.:

Quote from @Will Adams Jr:

Hi All,

I have a property that has a single family upstairs (3b 1.5ba) with a partially finished basement (3b, 1ba) that I will be finishing and turning into a separate unit. The whole house is on one HVAC system. Additional ductwork will need to be ran to a few rooms.

I need some ideas for how to zone the upstairs and basement without adding a new hvac system. Any ideas? Some that I have stumbled on and a few notes regarding each:
- Smart-vents (Keen, Flair, Ecovent): The issue with these, is it seems as though they only open and close the vents based on the temperature. This will be an issue with the basement as in winter, simply keeping the vent open will not force additonal warm air out of the furnace. Does anyone know about these?
- New HVAC: $10,000 pill I wont be swallowing if I can help it.

- Electronic dampers: I don't know how these work really, and if the separate thermostat would force warm/cool air.

- Mini-split/wall units: Since I would have to put one ($900) in about 5 rooms ($4500) in the basement to fully separate the systems, this is also a tough solution. I also lose space.

I'm really scratching my head on this one and could really use the

Restricting air flow via dampners wreaks havoc on an FAU, I dont use registers with dampners at all. I use truair or Schumacher registers in order to manage static pressure plus I add more returns to alleviate the poor air exchanges. It seems like mini splits are the only way in this scenario. A zoned system needs the proper equipment.

Thanks Alan, I wasnt able to find either of the products you mentioned - Truair or Schumacher registers - what do these provide your units? Why do you think the mini split is. the only route? I'd be fine with getting the equipment, the best option to me is doing the job right, as low $$ as I can.

Hi Will, I don't have rentals, I flip only so in CA I try to get the lowest HERS rating possible, of course its really specific and depends on margins. When end users can open & close dampners it really affects the manual D calculation for sizing an FAU. But FWIW even opening and closing doors of rooms. Stamped steel registers are a poor design in general, so high quality registers have better air flow. Theres alot of changes in HVAC tech & I'm a bit of a nerd on this stuff. Multi story structures add more complications to the calcs. For a deeper dive into HVAC look up manual D, Manual S & Manual J.

Theres so much tribal knowledge passed on in conditioning system and much is not accurate. That being said sometimes the cost outweighs the margins for investors. Here in CA energy is expensive and building codes are deep. Sorry if I overwhelmed with this stuff, I'm not really good at conveying info on my phone. Very best

0 Votes

Nashville, Tennessee

Quote from @Scott Scoville:

Hey BP Community, what project management software or apps are you using for scope of work, bids, contractor tasks, to do lists, etc. on your flips and renovati

Maybe look into Procore.

1 Vote

Sacramento, California

Quote from @Alan F.:

Quote from @Will Adams Jr:

Hi All,

- Electronic dampers: I don't know how these work really, and if the separate thermostat would force warm/cool air.

- Mini-split/wall units: Since I would have to put one ($900) in about 5 rooms ($4500) in the basement to fully separate the systems, this is also a tough solution. I also lose space.

I'm really scratching my head on this one and could really use the

0 Votes

Nashville, Tennessee

Quote from @Will Adams Jr:

Hi All,

- Electronic dampers: I don't know how these work really, and if the separate thermostat would force warm/cool air.

- Mini-split/wall units: Since I would have to put one ($900) in about 5 rooms ($4500) in the basement to fully separate the systems, this is also a tough solution. I also lose space.

I'm really scratching my head on this one and could really use the help.

0 Votes

Nashville, Tennessee

All Forum Posts by: Alan F.

Alan F. has started 14 posts and replied 947 times.

Post: How and When to Add Value

Post: Ideas for adding zoning to single HVAC Unit

Post: Ideas for adding zoning to single HVAC Unit

Post: Current Market Conditions

Post: Current Market Conditions

Post: Rate of Return when flipping

Post: Ideas for adding zoning to single HVAC Unit

Post: Project Management Software / Apps

Post: Ideas for adding zoning to single HVAC Unit

Post: Ideas for adding zoning to single HVAC Unit