All Forum Posts by: Minna Reid

Yeah - but not today!!! I need a little time off. I have never worked so hard in my life. ..I am beat. ..I wake up sore every single day. I look like a ditchdigger ALL THE TIME. And I used to be high maintenance chick!
I am gonna rejuvenate myslef, get back into some cute clothes, and heels! (man I missed those - my babies are collecting dust). I can fix my hair again, get a manicure...I'm feeling rough...guys dont even hold doors for me anymore, and they used to hit on me all the time. Must be that paint covered, lumber carrying look I've taken on for the last two months...lol.
So I'm gonna spend some time just hanging out with my family...take it easy for a bit....while I shop for the next project.

Thanks everyone - and yes I will still have some profit. I couldn't come up with a realistic budget, but thankfully I also couldn't run good comps either. My realtor is doing another analysis but I expect to list for at least 260. I paid 162 for the property, spent 33k on my renovations, and just about 11k closing and holding so far. So all in all, I'm in it for about 206 today. My realtor get 5.5%, so at 260 I'd still be looking at a 40k profit after her fee. I'll post the exact figures as soon as I have them, but I'm gonna be ok...and I won't even lose my shirt here...lol.

33K later -I may be broke..lol..but I am done! I got a little cleaning left today, and since its still sleeting in CT I can't do much with landscaping now...but oh well. I am listing with a realtor today, and skipping town for a bit, cause I NEED A REST.
Anyway - I have a little album/slideshow here:
http://new.photos.yahoo.com/norwichave/album/576460762392905848

Forgive the dusty lens. Sheetrock dust is hard to shake.

I think that would be the safe way to go. Staying under budget doesn't hurt. Going over does.
And I do hope that you plan to get real local contractor estimates before buying. I can think "nicer average size new kitchen from scratch" - roughly 8k plus labor. But I can't see your kitchen in person. You know?

If you are living in the house - is 6 months the time you want to hold, or is 6 months the time you intend to spend doing the work?
I think 30 k is reasonable (again before the drywall, framing and insulation) unless you're going all high end on everything, and I do assume you intend to do some of the work yourslef.
Now personally, my rule of thumb, if it's sheetrock or whatever is to the inside of that - I can do it. I'm not messing with electrical, plumbing, hvac, or major carpentry.
But gutting and rebuilding a kitchen or bathroom - no problem. Flooring - I can do it all. Sheetrock is no biggie. Cabinets, fixtures and the like are simple stuff. BUT - I am also experienced, and I work with my bf who is also a contractor.
What are you attempting to take on yourslef, and what help do you have available to you?

Well that would depend on a lot of things - your level of skill, the timeframe you have, cash available.

That sounds to me like a 30k project, stopping at the new kitchen...the rest is too general to estimate. But I'm on east coast pricing. Midwest may be less.

Have you considered vacancy, taxes, PMI, upkeep, any other expenses outside of water and insurance? 211 after ALL expenses sounds like a decent deal with that price tag.

I'm a rehabber...but still...I can't do it all. At least not in a timely fashion.

PMI varies, but I've always been quoted at the $150/month range for 200k.
There are lenders who offer 95 or even 100% single fixed rate loans without PMI. Rates are slightly higher, but still less than paying PMI. From my experience anyway.