All Forum Posts by: Allen Tracy

@Account Closed I know you've been investing a lot longer than I have in a similar area, do you have any general numbers for repairs/replacements/upgrades?

@Gail W. and @Account Closed that price for a furnace replacement was given to me by my property management company.  It seemed really low to me as well but I figured since they manage over 1,000 properties they might have a deal with someone.  Also that number is for a furnace on a duplex so replacing both would be $3,000 which seems about right for replacing one in a single family home.  I think to be on the safe side when running the numbers before a purchase I'll still put $2,500 down, I'm sure if there's money left over it will go somewhere else unexpected.

Hey @Daryl Henry yes I have the book but the prices vary widly.  Which makes sense since I live in Los Angeles the prices here are way different than Columbus where my properties are.  That's why I posted in the Columbus forums, I'd love to get numbers from people that are getting work done in Columbus.

Thanks @Micheal Briscoe for those numbers.  It will be nice when the lumber prices go back down.

Let's get back to my original post please, you guys can take your discussion into private messages or create a new post, thanks.

Awesome!  Thanks @Tara S.  Once I get some of my own numbers specific to Columbus I'll compare them with others and share my cheat sheet as well with everyone.

@Account Closed those numbers sound more like what I expected.  When my management company told me $845 for water heater I thought it was a good deal but $1,500 for furnace replacement I thought was crazy cheap.  Maybe because these are multifamily and the furnace doesn't need to be as big.

Hey @Jack Smith that app is not available in the US App Store

Thanks @Tara S.  I'm not quite at the point where I'm doing big rehabs and need all the numbers.  I'm also trying to avoid contacting a contractor every time I get an inspection to get a quote since it could be six months to a year before I actually go through with some of the repairs.  I like to budget things well into the future.  I'm looking more to create my own cheat sheet that I can do very rough estimates with to plan my budget for immediate and future repairs and run the numbers through the calculator before finalizing a purchase.  I'd also like to use those numbers to know if a quote I get from my management company or a handyman I contact myself are way off.  Columbus is an extremely hard place to find good contractors especially while being out of state.  I've seen many investors post in this forum looking for good contractors and most people replying with "good luck, let me know if you find one".

Thanks @Kristyn Grimes Those numbers look wildly high on that site. Maybe they're more for primary homes instead of investment properties? I was going to click on the Columbus specific data but the website is asking for a lot of personal info so I skipped it. I've actually completed a minor BRRRR and have done a lot of general research on it, just trying to get more specific numbers for Columbus for a larger BRRRR and to help me budget repairs before purchasing more properties.