All Forum Posts by: Jean Marx

Thanks for the response Hardar! In CA, quite a few people have general numbers for light, medium, and full guts that they multiple by square ft. to quickly help determine if the property is worth looking at or get a general idea of the price point you’d have to purchase at before more time is spent on full estimates. If there are less standard issues going on like structural issues and termite damage, I add to the number.  Basically, we were hoping for a quick way to look at properties to determine if it warrants more of our time. In Arkansas, our estimates are often coming in quite a bit higher than the realtors. It’s hard to determine if we just haven’t negotiated the price low enough or if the rehab prices are really that much less (i.e. our numbers aren’t right).We reached out to a couple recommended contractors for a bid in a situation where we had time to submit an offer. The first contactractor walked the property but never responded with an estimate. We decided that was an indicator of how the rest of the project would go and dropped it after both the realtor and I reached out more than once. Another guy, quickly came in and gave us a rough idea that was missing key items so we ended up submitting the offer with our original numbers. That was a lot of effort for not having the property under contract (especially to fall back on our original numbers).    Our hope with this post was to see if there is a general rule of thumb in that market that we can compare with our estimate and then have a contractor come in for a true estimate during the contingency period.

Hi all -

We've been submitting offers on SFR and small multi-family in Little Rock, AR from California. Do you have quick rehab numbers by square foot to get a general idea if it's a deal/what price point you need to be at? Our realtor throws out numbers that seem low but our frame of reference is California. She's knowledgeable and also invests. However, she and her spouse do most of the work themselves so we wanted to hear from someone that hires out.

Thanks in advance!

- Jean

Thanks Gregory! It was a great deal. Unfortunately, we lost out to an all cash offer. My brother is looking for a primary residence in the area and sending leads that meet our criteria in the process. I’ll reach  out to Richard if we come across something else worth pursuing. Thanks again!!

 Thanks for the specifics Jay! This was helpful.

We came across a potential deal in Medford, OR. We secured hard money for the pre-approval; however, we'd be interested in comparing terms with other lenders over the next few days. Do any of you have private or hard money lender recommendations for that area? We're newer to this type of lending and would love to get a few perspectives as well as find people that we like to work with now or in the future. 

Thanks in advance!

- Jean

Note: The seller needs to a fast close so standard lenders aren't an option. 

 Thanks for the summary Wes! We've seen some trends but it nice having confirmation with numbers :)

 Thanks Dave! I appreciate the input, especially with the varied markets that overlap some of what we are looking at.

 Thanks AJ!

That's a good question/thought. We loved our time there but retirement in AR (or CA) is unlikely. I'm a bit of a Montana girl at heart. However, we'll have to see where our adventures take us unless I can sell my husband on the cold winters.