All Forum Posts by: Logan Reinard

@Frank Geiger I think it’s just a way of life to run from the things you don’t know or understand. Learning is half the battle - G. I. Joe

@Frank Geiger have you had to fix an uneven floor on the second floor? Is that a runner too? I’m talking about 6 inches uneven

@Jaysen Medhurst

• 8% for Vacancy is probably fine, unless this is a local average.

• You're forgetting CapEx. 15% combined with repairs is usually good.

YOU ARE RIGHT. I DID FORGET THAT.

• Any house electric? For hallways, etc.

WHAT DO YOU MEAN BY HOUSE ELECTRIC?

• What about lawn care and snow removal?

GRASS IS EASY. ANY TIPS ON SNOW REMOVAL COST?

• The listing says water & trash is $210/month, but your pro forma only add up to $158.

GOOD CATCH. MAKING SURE YOU WERE PAYING ATTENTION HAHA

• I'd allocate more for initial repairs, considering the garage needs work.

Yeah. That garage looks huge too

I’ve been looking for distressed homes that need some work to flip but I’ve walked away from many houses that need more than what I’m willing (or know how) to do.

I tend to walk away if the house has some crazy weird layout, floors that aren’t level, and bad foundations.

Generally speaking, when do houses become too distressed for you?

I just looked at house that is a HUGE REHAB in a mediocre pay back.  It would be my first flip... not sure I'm ready for it.

@Andrew Syrios @Jaysen Medhurst It sounds like you are more hesitant towards C class multi-family.  There are a couple up and coming restaurants and shops in the area, but nonetheless it's not a thriving economy by any stretch of the imagination.

https://www.biggerpockets.com/... here is the numbers i ran on it.  If you don't mind checking it out, I'd love to know what you think.

@Russell Brazil @Andrew Syrios great illustrations. From what I’ve found, a lot of less desirable areas produce a better cap rate but may need a bit more fixes down the road and would also not be gaining any value when it’s time to sell unless the unexpected happened and the area turned around. Would you agree with that?

Do either of you invest in less desirable areas? If so what things to watch out for. If not why not?

@Charles Carillo Thank you.  What should you aim for for in a single family, duplex, triplex, etc?  Obviously if youre able to get into a duplex for a low price, you would assume fixes are around the corner.  Would that mean you have to get a much higher cap rate so you can put more of that cash flow asside for fixes?

Great Job!  How did you find this gem?  Any major construction updates or all cosmetic? 

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