All Forum Posts by: Charlie DiLisio

Did he give you any references or skill level?  I do my own rehabs but I am an experienced tradesman and my subs are licensed plumbers and electricians.  They do not always pull permits but it is all done to code and I stand behind their work.  I have known them for many years and they all do quality work.  It scares me when you use the handyman label because if you are not knowledgeable in construction personally he (or she) may be doing sub-standard work and then covering it up with walls.  I have full confidence in my crew but also have done extensive work myself.  I wish you the best but get a rehab insurance policy and have someone check on the work as it progresses.  

No choice, you have to fix both as they are entwined together.  Foundation is the key to all structures and once you get it done you will not have any issues.  You can't sell with the problem and it won't get better but will get worse.  Fix it and you will have more options to maximize your profit and cash flow.  Good luck, I've done both and mostly labor involved.  

I agree Jason, I use the 30 day rule and then lower the price unless you have a seasonal market where you are. Your holding cost will eat up the extra money you may make and better to move it and find another with the cash you make. I wouldn't take much stock in what your realtor recommends, they typically list higher than what it's worth to lock you into the deal I use flat fee and can sell myself or MLS which works very well for me in the event I do a creative sale. Good luck and move it or lose it! Be well.

An outhouse?   Really.  wow

Electric space heaters can be rented locally but you may need 4 or 5 of them.  I see you are in the cold country so I can see the need you have.  Can you expedite the HVAC repairs?  Good luck.

Beautiful 2 Bedroom 1.5 Bath Condo in 55+ community.  24 x 24 Polished porcelain tile thru-out.  New Kitchen and bathrooms.  Laundry-washer and dryer included.  New A/C appliances, upgraded electrical panel and hot water heater with full warranties.  Textured ceilings and freshly painted walls.  Patio with sliding glass doors and additional storage area.  Olympic sized pool, tennis, shuffleboard, clubhouse and many social activities.  Only 4 miles to trendy Lake Worth and the ocean.  Call or text Charlie @ 561-231-4995 or Wendy @561-628-7944

Good luck with that one. Most times it won't work with those numbers. Always possible but if they aren't losing it why would they drop that much. Won't be worth your time with the numbers that close to ARV. ARV at 85 minus 10 rehab, holding costs and your profit say 20 k and its not a deal unless the purchase price is around 50k.

Thanks for the good advice.  I will check out the book and the QB specialists.  

I'm thinking the same way Khizar.  My accountant uses quickbooks now and I would like to study it myself and do the input for her.  She won't mind and I will be more aware of my position.  I will follow your post and see if anyone has a good idea as to where the best way to learn it is.  Good luck!

My flips usually cost between 20 and 30k no matter the cost of the property and it brings the value up to the top of the market.  For a buy and hold I would go less because of the wear and tear of rentals but still make it nice to get a higher rent and hopefully better quality of tenants.  Just my 2 cents.