All Forum Posts by: Bhanu Kuna

Hi everyone! I hope everyone is staying safe. Working on my first BRRRR in Philly and the property requires heavy rehab.

• The kitchen needs to be gutted(will end up going with mid-range finishes since everything is being demo'd our anyway)
• Paint the whole house
• Bathroom needs to be gutted
• New flooring throughout(Probably going to go with LVT flooring)
• New fixtures 
• Minor repairs to the roof
• Everything else looks good, however, I'd like to remove a wall so you have clear sight lines from the kitchen to the front of the house.
• It also needs a washer/dryer hookup and new appliances.

With all this in mind, I'm trying to figure how much the rehab would cost. I need a good estimate so I can calculate the right offer price. My best guess is 50k ish. Unfortunately, I don't come from a construction background and haven't done a project like this before. 

Anyone have experience with this type of rehab and how much it would cost? Or a system to estimate?

Hi everyone! Hope everyone is staying safe.

Working on my first BRRRR in Philly and the property requires heavy a rehab.

The kitchen needs to be gutted.

Paint the whole house

Baæthroom needs to be gutted

New flooring throughout.

Structurally everything is good, however I'd like to remove a wall so you have clear site lines from the kitchen to the front of the house.

It also needs a washer/dryer hookup and new appliances.

With all this in mind I'm trying to figure how much the rehab would cost. I need a good estimate so I can calculate the right offer price. Anyone have experience with this type of rehab and how much it would cost? Or a system to estimate?

@Michael Sato awesome! I'm already registered :-)

Any deals coming up for BP life time membership?? Or any deals for any of the memberships? I saw something in the forums for the pro membership but it seems to have expired.

@Jinglei Cui good to know. I'll work my way through the proof of funds process with a few lenders so I have options.

@David M. I can completely relate to those who value their time! It actually made me like the guy more haha. I appreciated that he had his own list of requirements for who he would work with.

Always super interesting to get the lender view & the agent view @Russell Brazil & @Guifre Mora :)

I was trying to understand if this was normal process. I had the expectation I would have to get approval to purchase a property. I didn't think that I would need proof of funds just to speak to an agent. :)

Hi everyone! I'm building my core 4 and contacted an agent and he asked for proof of funds letter before speaking. Can anyone explain what the purpose of the proof funds letter is at this point? What's the best method for getting the letter? I have 25k a can draw from my HELOC and few thousand in the bank. I think if I apply I should easily be able to get the letter.

Thanks! I'd really like to get a better understanding of the process.

@Sam Touroonjian I'll definitely reach out to more people in this site. I'm willing to hustle, have some capital, and understanding of risk, and finance. However, I'm lacking the experience to attract real rock stars. I'll have to pay my dues and close my first few deals :-). Looking forward to the challenge.

@Oscar Pinto this definitely helps. I also take this to mean more tenured/rock star agents don't want their time wasted. Which is perfectly acceptable, it's a two way relationship.