All Forum Posts by: Joshua Walker
Joshua Walker has started 9 posts and replied 24 times.
Post: First property. Help me analyze this deal
- Investor
- New Iberia, LA
- Posts 24
- Votes 4
Thanks for the reply Marcus. I'm finding out pretty quick that most agent don't know anything about REI. I've looked at several properties in last few months and I've only come across one agent so far that seemed to really know what she was doing. Any suggestions on finding a buyer agent?
Post: First property. Help me analyze this deal
- Investor
- New Iberia, LA
- Posts 24
- Votes 4
I completed a BRRRR calculator, I'm hoping I linked correctly, The market in my area has been pretty hot recently. Properties don't stay on the market very long. Although this one has been on the market for about 180 days and there has just recently been a price drop from $95,000 to $85,000.
Post: First property. Help me analyze this deal
- Investor
- New Iberia, LA
- Posts 24
- Votes 4
Thanks Bryan! In regards to Capex, the roof was replaced about 8 years ago, the inside A/C unit was replaced 2018 and the outside unit was installed in 2006. The compressor was changed in 2015. The plumbing all looked upgraded but I'm not sure about electrical. Attached are pictures of the property.
Post: First property. Help me analyze this deal
- Investor
- New Iberia, LA
- Posts 24
- Votes 4
*This link comes directly from our calculators, based on information input by the member who posted.
Hey everyone. I'm brand new to the real estate investing world. I just upgraded my membership to pro and have been using the rental property calculator to evaluate several properties I'm interested in. I created the attached report prior to looking at the property. Seemed like a decent deal so I went look at the property yesterday. Turns out the kitchen and bathrooms need updating and the entire interior needs paint. I think I can keep the kitchen cabinets, paint them and just change the counter tops. There is 1960's wall paper on the walls in the kitchen and the flooring needs to be replaced. Both bathrooms need the flooring changed, hopefully just paint the vanities and change counter tops. One bathroom has a shower only and the other has a tub. The structure of the house is sound from what I can tell so just the dated linoleum needs to be replaced. I'm thinking about making an offer, but I have a few questions. Should I get a home inspection done prior to making a offer? Any suggestions on what I should offer given the updates needed?
As stated previously, I'm brand new to this so forgive me if I ask stupid questions. Just trying to learn!
Thanks,
Josh