All Forum Posts by: Brian Faulkner

Craig, All of your quick comps were more square footage and less $ per sq foot. Pictures look like builder grade materials, what's driving the 145$ sq ft? What am I missing? Using the median numbers in your quick comp of 109$ would put this property at 135k. I am genuinely asking, not attacking the price. Thanks.

Don't spend to many cycles stuck in the why... evict and capitalize on this opportunity to catch up on any repairs or renovations and raise rent.

Have you spoke to Horizon? I believe they pro-folio lend

Beech grove ?

12k a year, that's a 30% return if I was investing he 40k elsewhere... tell us your plan for the 40k if you were to sell.

Can you pm details please? Thank you.

Just call around, in my area local banks will loan 4.875% sub 50k with 25% down.

203k loan could be used to create equity in a distressed property yes... However this comes with a whole other set of difficulties and challenges... The 203k process isn't easy, usually only approved contractors from lender... Their costs maybe higher.. Etc... Not saying it can't be done, but if you are just starting out its not the easiest path.

1. Experience or research, their is a book on this site you can find that covers how to estimate. Alternatively you can get contractors to walk the property with you and get a few estimates... You may have to pay a little for this depending on the contractor. 2. You research all the houses that have sold recently I that area, consider the level of finishes and the dollar per square foot.. How yours will compare and arrive at a price. Alternatively if you build out a team... One of those people would be a real estate agent. They do this all the time when figuring out a market value sell price for a home. 3. Craigslist, hotpads, rent O meter, go visit competitive rentals etc... Bonus question - most the homes you would use BRRR don't qualify for FHA.. FHA is typically a house that is already livable... BRRR is typically buying a depreciated house, creating equity though rehab, and refinancing to get your working Capitol back.

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