All Forum Posts by: Charlie Anne

@Dieggo Goncalves keep us posted on your progress!

@Dieggo Goncalves I’m mainly looking for 3/2 ranches from 1960+. 

What did you end up spending for the cosmetic rehab on your 3/2? And what was done? 

Sounds like I need to add more rehab budget into my estimates.

@Ben Baye thanks for the feedback! 

I ended up losing the house to another bid. I think a more turnkey first purchase is a better fit anyways. Oh well, onto the next! 

@Brenden Mitchum thanks for the feedback!

@Jingru Sui I appreciate the advice :)

I found it on realtor.com, it was posted to the MLS. Supposedly someone bought it years ago planning to fix it up and just wants to offload it. I can see from old Google maps pictures that the front of the house used to be panel and now it's brick so they did a fair bit of work on it then stopped for some reason.

@Jingru Sui the $45k is the purchase price + closing costs all cash. 

I'm not sure if 25k is the right number yet, I have not had a contractor look at the house. But that's the max I would want to spend. My plan is to offer to buy with a 14 day contingency period since it's priced so well. 

I am a bit intimidated to get a fixer upper remote as my first purchase. 

@Jessica Davis when you rent per room do the students only pay for the 8 months they are at school? I am considering a 7 bedroom SFH near a university so I have started thinking about this approach. 

@Michael Magnell I'm glad it's worked out! I really like the incentives you gave tenants in order to rehab. Great idea.

@Lee Ripma I will PM you, thanks for offering! I love Kansas City as well. I have family that lives in Overland Park, so I'm there about once a year to visit.

I found a SFH for sale near Atlanta that is a fixer upper. Advice would be appreciated! I'm not sure if I should go for it or not, but I do think it's the best opportunity I've found so far.

Price: $45,000 (incl closing costs)

Rehab: $25,000

All in price: $70,000

• Rent - worst case scenario: $900

• Rent - medium scenario: $1,000

• Rent - best case scenario: $1,250 (w/o COVID I would be confident rent would land here)

The median price in the zip code is $123k. This is a 7 bedroom 2 bathroom home near a university, however it's in a "up & coming" part of town where some houses are still in bad shape but others are great. It's a 5 minute drive to downtown. 

Congrats @Christian Cummings!