All Forum Posts by: Gabriel G.

@Anthony Ianozi welcome to BP and thank you for your service! It's nice to see more service members on here (even if they are Army lol). J/K If you ever need anything, feel free to send me a PM and best of luck.

@Daria B. that seems like a very good price for a PM. How have they worked out?

Also, @Shawn Dandridge I would generalize and say that most PMs in the area charge anywhere from 8-10% of gross rent + one months rent for tenant placement + application/processing fee + some sort of yearly fee for all the bookkeeping/accounting etc + some sort of cash reserve for repairs/ emergency.... This is not all encompassing but on average this is what you will see. If you see a lot more or a lot less, I would be worried. If you have trouble finding someone then start by visiting local real estate offices. Most brokerages have a property management company or at least know of one. 

@Lian Shi as J mentioned, it really varies if you do the SQ FT method. If you have a 1000sqft house that needs a full gut job it's not going to be the same sqft price as a 1000 sqft that only needs cosmetic work. I personally like to itemize everything as best as possible and then get a price for everything. For some things I already know the labor and material costs (i.e. I know my double hung windows are usually around $370 per window including install). If you itimeize everything you will have less room for error (however I always add a 10% contingency just because you never know).

@J Scott do you have any info on estimating new builds? There is a property I saw near a flip I am doing that is in really rough shape (i.e.: foundation is completely falling apart and half of a exterior wall is completely gone) the bank is asking for 90k but it's been sitting for a long time and I'm sure it can go for cheaper...A new house in that area go for around 330-350. The only thing stopping me from doing anything is that 1) I don't have any experience on new construction (I actually just started flipping) and 2) I don't know how to even begin estimating a job like that... Could you shed some light on this? If you are interested I'd be glad to give you all the details on the place and just sit on the sidelines learning while you do your thing lol. (Oh forgot to mention, the place is in anne rinse like county near glen burnie/ Pasadena area).

@Daniel Saunders  welcome to BP! I got my license with your sister over at Coldwell Banker in Annapolis (Such a small world lol)... Anyhow, if you are ever interested in meeting up and talking about real estate or just grabbing a coffee, let me know.

@Brandon Smith welcome to BP and best of luck on your real estate investing.

@Brian Sinclair as @Wayne Brooks mentioned the only easy way to do this is through a realtor. You could try and just use third party sites like Zillow or Redfin but their information isn't 100% accurate and/or timely. If you are really adamant about looking up REO, then I am sure you can get a list of foreclosures from a place like list source and follow the foreclosure process through the court records and then figure out which bank ends up owning the properties.... I can tell you right now that I've never done anything like that and I am assuming it would be very time consuming and you would have to wait a very long time until the house finished the forclosure process.... So in layman terms, using a realtor or third party sites is the easiest way... Is there a particular reason you are against using a realtor? If you are so against them, have you thought about getting your own license ? I have also heard of individuals getting MLS accedes without being a realtor but paying a higher rate (not sure of the requirements but check mris.com).

@Abhijeet Sharma welcome to BP and the exciting world of real estate investing. Wish you the best!

@Christian Bors I remember seeing the cutter technique on this old house. Going to try that next time.

Thank you all for the comments!

@Christian Bors we are removing it. It's been a pain but we figured it was the best route to take. I'll make sure to post some pictures once we get everything done.