All Forum Posts by: Eli Kallison

Hi BP,

I am re-doing a few bathrooms for a mid-range rehab for a buy and hold rental and I want to get matte black shower hardware and fixtures like these: https://www.amazon.com/Moen-T2...

Most of what I find on Amazon looks like junk (bath water pressure or other issues) and what I find at Home Depot and Lowe's are really expensive. Any recommendations on specific matte black hardware you've used for bathrooms that perform well?

Thank you!

Hi BP,

i will be closing on my first multifamily property in St Louis MO this month to househack. 

The unit I plan to live in is inhabited by a man who has lived there for 17 years with no lease. He is rather difficult, apparently, and I'm worried about what will happen if he refuses to leave the property. 

Has anyone had experience with this in MO? Do I write up a notice to vacate even though there is no lease? Are squatters laws something to consider?

 Thank you for the feedback! I re-worked the estimates to be less conservative and hopefully more realistic (and added a few items that I missed). I actually took a look back at the inspection report and I think repair to the electrical panel is more appropriate than replacing it.

Anyways, updated costs inserted.

Thank you, I figured as such. I was definitely airing on the side of caution. Is there a specific part of the estimate that seems particularly high or does everything seem inflated.

By the way, I love your book! I finished it last week.

Hi BP,

I am considering buying my first BRRR property with significant rehab costs associated with it. I tried to estimate costs without getting bids (through a combination of local website prices to average costs in my area googling) to make an initial offer. I know this will not be all that accurate but I want to know if I am in the general ballpark for this 3-family all-brick 3200sq foot building (2 stories) in St. Louis, MO. I have an inspection from a previous potential buyer.

For the kitchen and bathroom remodels, I am less concerned about exact figures here I just wanted to allocate a budget towards modernizing them. I am mostly concerned with the other items, particularly the Safety/Structural items.

Any feedback here (see screenshot of spreadsheet).

Sorry moving this to the appropriate forum. @Moderators is it possible to delete this post?

Hi BP,

I am considering buying my first BRRR property with significant rehab costs associated with it. I tried to estimate costs without getting bids (through a combination of local website prices to average costs in my area googling). I know this will not be all that accurate but I want to know if I am in the general ballpark for this 3-family all-brick 3200sq foot building (2 stories) in St. Louis, MO.

For the kitchen and bathroom remodels, I am less concerned about exact figures here I just wanted to allocate a budget towards modernizing them. I am mostly concerned with the other items, particularly the Safety/Structural items.

Any feedback here (see screenshot of spreadsheet).

I got information from them as well they seem sketchy. Did you ever proceed with them?

Thank you for this explanation Damaso. Much appreciated. The rent to cost ratio in this area is pretty abismal, so cash on cash is low. But, the market is and has been quite hot for owner occupants and some vacation homes. I'm hoping to send out offers below market value of home in bulk via direct mail and then turn around and sell on mls for retail. I'm just having a tough time figuring out how to get a system down for blind initial pricing (subject to visual and professional inspection later on) that doesn't require manual analysis of each property that I mail. 

I have been running into the issue of not knowing how to price offers for off-market deals I find from direct mail campaigns. 

I am operating in a market with a very heterogenous real estate landscape in a relatively small county, so comparable sales data from Zillow, Realtor, etc is a little finnicky. 

Does anyone have a strategy for how to price offers? I am hoping to send some blind offers in my letters, and I want to develop a good system for determining price.

Thank you!

-Eli

I have been on the lookout for investors operating in the area. No current meet up groups and so far, no one that I can find who works with off market deals. It's tough in such a small community where use of the internet for networking is limited.