All Forum Posts by: Charlie Hampton

Sent you my insurance guys contact in dm.

 I'm still in this property for $0, but I couldn't pull out the extra cash I wanted.  Oh well, on to the next...

Be careful, I just had my 4/1 sfh appraise for only 80k in berlin because of all the foreclosures dragging it down.

Sent you a PM with my number. Give me a call and I can check it out for you.

I'm 15 mins from there, what are you looking to have done?

If you have extensive termite damage AND foundation issues, I think I would push it in a hole and put up a modular.  I've saved some pretty terrible places, but there wasn't much to be made when doing the work myself.  Might not be anything left at all if you hire it out....

I have had a hard time finding them also. I have a duplex in Salem that has great cashflow, but its useless for BRRRR because the appraisal costs more than the building appraises for.

@Eric Teran is correct.  Usually whatever you are paying per sq ft is doubled when you include everything else (foundation, sitework, etc.)  Is that 65k including delivery, crane and site crew for setting/sealing the boxes (parts of the home on the trailer are referred to as boxes).  I would go back and forth between a few modular places and make them compete for your business.  That's what I did and I shaved off about 12k from my original quoted price on one.

When you say inspector do you mean from the bank to give you draws or do you mean county/township inspector?  The modular companies have their own inspectors come out and that is good enough for the township (at least in my case it was).  The township would only inspect the work performed on site.  

Overall, there is less to manage when doing modulars in my opinion, but it all comes down to the cost and if its profitable.  I can build a profitable modular and I can build a modular with zero equity.  It all depends on you and what you pay for everything.

@Mayer M. what specific questions/concerns do you have?  There are no added complexities to a modular as opposed to stick building that I have had to deal with.  You are still purchasing land, setting up utilities, pulling permits, etc...