All Forum Posts by: Paul Tomlinson
Paul Tomlinson has started 4 posts and replied 23 times.
Post: duplexes
- Real Estate Investor
- Montgomery, IL
- Posts 23
- Votes 1
Personally I think that if you are meeting your goals then it doesn't matter if you are investing in a single family house, duplex, or dog house. For me, the goals are to have either positive cashflow from rentals, to purchase a property below 75% market value, or to purchase rehab opportunities which will result in a flip of a $15K gain or more within a 3 month time period.
Having said that, I'm in the process of purchasing a duplex and a SFH.
Post: Fixer-uppers - The Right Way
- Real Estate Investor
- Montgomery, IL
- Posts 23
- Votes 1
All Cash, I should have known better regarding the question concerning labor. Yeah... In the Chicagoland area you can easily pay $90 per hour labor on your car or you can head 70 miles west of the city and pay half of that labor price.
Post: Fixer-uppers - The Right Way
- Real Estate Investor
- Montgomery, IL
- Posts 23
- Votes 1
Steve, do you have a formula that you use to help determine the repair expenses? ie for a room that might be 20x14... the cost to carpet that room... the cost to tile that room... the cost to paint that room... the cost for kitchen cabinets, etc... I'm also curious as to labor costs as a percentage of supplies?
Hope everyone had a great Thanksgiving!!!