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All Forum Posts by: Jeff Costa

Jeff Costa has started 18 posts and replied 142 times.

Post: Book Recommendations for our Contest

Jeff CostaPosted
  • Posts 159
  • Votes 110

@Taylor Hosick Grab a copy of "Who, Not How." Its a short (209 page) read, which makes it easy to read in a few hours. If you adopt its teachings, you can magnify what you can do individually (by scaling yourself, and subsequently the business).

Post: North Window Duplex LTR

Jeff CostaPosted
  • Posts 159
  • Votes 110
Quote from @Dmitriy Fomichenko:

Nice! Congrats @Jeff Costa

Thanks, Dmitriy!  

Post: North Window Duplex LTR

Jeff CostaPosted
  • Posts 159
  • Votes 110
Quote from @Carini Rochester:

Congrats on the nice property. Was this MLS or how did you find the deal?

MLS listing.

Thanks for the info @Chris Seveney and @Nathan Gesner 

I was perplexed when I saw this in the listing description. 

I’ve seen this statement in a few listings: ”Engineers inspections are NOT allowed during showing appointments.”

I can guess at why it’s there (to mask problems), but would appreciate agent feedback here. What is the real purpose of this statement?

@Leah Gober and anyone else: I was thinking a "tabletop" exercise would be interesting. I'm looking to buy in PCB in the off season, so not fishing in the same pond yet. It would be great to run some properties through spreadsheets and talk about the line items.

Anyone interested in forming a small PCB buyer's group to review deals and learn?

Post: North Window Duplex LTR

Jeff CostaPosted
  • Posts 159
  • Votes 110
Quote from @Bryan Escudero:

Nice looking property! How is the market in Rochester? What do your numbers look like when you normalize the property?

 Thanks, @Bryan Escudero: This is my first property in Rochester, so I will have to report back. The house should cashflow about $140/door based on my very conservative pro-forma.

Post: North Window Duplex LTR

Jeff CostaPosted
  • Posts 159
  • Votes 110
Quote from @Andrew Syrios:

Looks good! What do you think your rehab budget will be and what do you think the ARV is?

Thanks! There are only some minor repairs and cosmetic rehab to be done, which should total $5-7K. As the inspector said to me: "This house is f*cking mint. I would buy this house, and I already have 40 rental properties. Its unbelievably clean." I don't expect the ARV to budge much, and it appraised for $10K over purchase price.