All Forum Posts by: Clint Jusino

Hello everyone,

I've been closely examining a property listed on Redfin and am curious about the estimated rehab costs for a project of this nature. The property clearly needs new flooring and some repairs to the deck, among other updates. As someone who is still learning the ropes in real estate investment, I'm not entirely sure what an experienced investor would estimate for these rehab costs, especially with the intention of selling the property, not renting it.

Could anyone provide me with some ballpark figures for a rehab like this? I'm also interested in understanding how you arrive at these estimates. Additionally, if there are any resources or reading materials that you could recommend to help me learn more about this process, I would greatly appreciate it. Thank you for your help!

Clint, thank you for responding to my question. May I ask what is "HYSY"?

Quote from @Yogev Finegouz:

Hello all, I'm in a search for a real estate mentor. I live in Los Angeles but invest out of state. If anyone has an idea how to connect with someone that has a lot of experience I would love to hear that. Thanks!

Lots of ways. 

There are several ways to learn real estate investing
Some people tout reading everything and watching youtube videos all day. It works over time, but the problem I see there is that you are consuming junk as well as having to make decisions on what is actually valuable information.

There are plenty of opinions on how to do such on Bigger Pockets, but a lot of those opinions are misguided or wouldn't apply to you.

You can do joint ventures with successful investors. That is a good approach.

You can find a mentor/teacher/coach and learn directly. They fall into a few categories, 1. People who have never done a deal yet believe they are "expert" 2. People who teach in a group, or "crowd" and expect you to learn what you need to know and 3. People who teach individuals. Each has it's group of followers and you need to decide which way you learn best along with whether your goal is to become knowledgeable alone or to become knowledgeable and to actually buy properties. There is a way to check if one or the other fits your style and goals and has content that is actually solid information.

Hi Everyone,

Can anyone share their experience managing general contractors remotely? Any tips you could share would be greatly appreciated.

I'm Canadian investor looking to BRRRR in Texas so will not be in person.

Thanks!

Quote from @Andrew Swaim:

hey guys my contractor is almost done with the renovations. I am going to walk through the home and make sure he has done everything I have asked and that it looks good. is their any other step i need to take before i pay him his final cut or is it time to move on to finding a renter

It's unclear how much of a rehab you've had done done or your expeience or if you visited the site everyday, but you need to scrutinize everything he touched. That doesn't mean it needs to be perfect, but take time, test everything. 

For the future you should have a check list of items to refer to. If anything behind the walls was worked on, you need to check those before the wallboard goes up. That includes pipes, wiring, insulation. I have photos taken so I can know where the pipes and wiringing are for future repairs. If any permits were used, check to make sure they were signed off.

Thanks for the reply Clint! Good luck on the conversion. 

What % ROI are you looking for on Flips these days?

Hi all,

I'm an investor in Winston-Salem NC. My family owns a plot of land with a rental house (that my brother rents out). The land total is .8 acres and I've subdivided it for a total of three tracts. Our initial idea was to build-to-rent two 1,300 sqft homes on the additional tracts of land, but after speaking with lenders, the current interest rates made this unfeasible. We are now going to build-to-sell on the largest tract (.35 acres).

My question pertains to the final tract of land. It is situated directly behind my brother's rental and is .22 acres. I've had the idea to either equip the tract with a foundational tiny home, reverse the subdivision and build an ADU, or just build a smaller home on the currently subdivided lot. My brother's rental is a little over 1,000s sqft heated living area, so the ADU would only be permitted for 500 sqft in Winston-Salem, according to information I found online .

One advantage of an ADU I believe would be the ability to hook up to the primary residence's utilities. Does anyone have any knowledge/experience in investing in foundational tiny homes vs. ADUs? Is one more attractive than the other to potential tenants? Is one more beneficial to an investor/landlord than the other? What other issues/roadblocks may I face that I am not aware of?

I've reached out to the City of Winston-Salem to gain more information on tiny house regulations since there was not much to be found online.

Thanks!

Andrew

Pretty basic question. Trying to decide which route to take with that amount. Considered buying apartments or building storage facilities. Its not doing much sitting in the bank/ stock market/money market funds.