All Forum Posts by: Carlin Randolph

Hi @Manolo D. I just downloaded @J Scott's 2 books on rehabbing . Thanks in advance @J Scott! By the way for both of you, I haave a deal offered to me where when I walked through the house the floor steadily sloped downward from front to back. There was a crack in the wall on the 2nd floor so I kept looking. In the basement, I found someone stacked bricks in the back of the house to hold up the crossbeams which did not reach all the way across the house. They also added cement to the walls to support the crossbeams all the way to the front. @Manolo D How much should I ballpark replacing those beams and leveling the floor to decide on doing the deal(16 x 72)? ARV is $320k and asking is $174k. I thought of offering 114. @J Scott would you do this deal and how much would you offer? Thanks in advance guys

Thank you @J Scott. that gives me a bit of a measure which I was looking for yes. The properties I've been getting are between 1100 and 1600 sqft. I'm trying to build a team in Philly and the realtor who walked me through one property asked me how much per sqft I'd like to get the work done. I didn't want to seem thick but I just didn't know for the Philly market. Its a flip so I would like to finish with hardwood floors. 

Thank you @Joseph Scorese. I'd planned to come to a meetup tonight but my schedule got mixed up. I will try for a meetup in early July. 

Hello BP users. Can anyone help me with what a good price or even average price for a general contractor in Philadelphia is when doing a full rehab in terms of cost per square foot? 

Thank you so much @Josh Tonnesen. And thank you for the funding suggestion. They are always welcome and I will check them out. I am going to pass on this property mainly because I cannot even comp out the property well as a flip and there is no initial information to support any favorable days on market once the flip is done. So in the end, my decision wound up being a product of other problems. But your answer definitely helped. Thank you. I will also look around BP for some of the REIAs in the  Philadelphia area. Please share if you know of any great ones. 

-Carlin.

Hey BP Investors, I am a beginning investor starting out in the Philadelphia 19144 zip code on a flip. I have a property that has mold stemming from the roof (needs a new roof), fixed creaky floors, and cosmetic fixes in 4 of its 6 bedrooms. It is a Fannie Mae Homepath house that is out of the period where you have to occupy it. My next questions are:

Would anyone be able to help me out with about how much this would be for this 3000sqft house in this area?  

Are there any philadelphia investors who can help me out with this 19144 area?

Would I be able to buy this Fannie Mae property without disclosing my new company's financials??

Thanks