All Forum Posts by: Marcus Brown

Is this in Charleston, SC by any chance?

I see what your saying. It is not in a high end area and I need to verify if I have to deal with HOA and what would be the fees. It is priced literally hald of the comps in the community but risk factor does come into pay. I know its rentable being within a mile of a big college.

This will be my first property. What is everyone opinion on townhomes? I saw a Townhouse for very low price which will leave me with good equity if I purchase. Being this is not a SFR or MFR what is everyones experience with these? It is not in a warzone and can bring in roughly 4-500 dollars cash flow profit each month after mortgage + insurance.

Its one of those things that will eventually happen. Just make sure you get the dumpster fill quickly so you can get rid of it. As far as your framer, I would deduct the dump fee cost from his check. That will teach him not to dump stuff from other job sites into your dumpster. Not sure how expensive it would be but a job site camera sometimes is useful in cases such as this.

Alot of the cost can be reduced by having good resources. Having sub-contractors who will give you a fair price with quality work is a plus. Search craigslist for deals everyday. Check with local suppliers for discounted materials. (You can be surprised what you can find sometimes).

If you able to do some of the work in-house, this can save lots of money. But, make sure its something you know alot about, because if you do not, it can cost you lots of money if the work has to be redone.

On average, for a high-end building, expect costs to be around $100 per square foot. It can be less or more depending on deals and going rates in your area. 

The AIA (American Institute of Architects) has lots of good examples of contracts. Also, I myself have written many contracts. Make sure your contract has provisions in itself to protect you and to clarify any aspects that may be misinterpreted.

You may have to hire a company to pump it out. This depends on the local code regulations of the muncipality the home is located within. Also, once it is pumped out, I would try to verify what caused to water to accumalate to such amount.

No tools = Hes not a contractor.

He should have tools if he has been doing this type of work for a while. I would close the account and take the money out of his bill. A good contractor will come to work prepared with their own tools.

Thats amazing! That was a pretty extensive rehab. Glad you was able to make the numbers work, especially in downtown with the stiff requirements they have at this time.

Hi Brandy, I'm new at Real Estate, looking to be a potential invester / flipper. I'm from the Charleston area. Currently looking for lenders and hard money lenders.