All Forum Posts by: Brandon Stevens

I like how he tried so hard to be grammatically correct at the beginning of his post then reverted back to himself. Lol.

Pretty sure everyone was just pointing out that he either didn't read or comprehend the OP. See ya again in a couple years.

Just depends on what class your property is in and whats standard for your market. D no C no B maybe A yes. 

Heating up might be a stretch but we've bought in the area and have been happy with our purchases there. I think its stable and eventually will head in the right direction as people are priced out of the more expensive suburbs. 

Probably a wash in my opinion. Schools better. Yes, taxes much higher, yes. You'd basically be trying to justify the area on the schools, thus limiting your renters pool. Id probably look to buy right across the line to get the tosa feel without the taxes but even that area is getting harder to find deals.I dont know if the appreciation on a mfh even if the area picks up would be enough to warrant it. I also second the prior posters "moms opinion" of the area" if you are looking for families. That said....if the numbers work..the numbers work.

Ryan is great as is Matt White @ peoples exchange off richmond road. We've done deals with both including one we just closed with matt a couple weeks ago. Id talk to them both if I were you. Wealth of knowledge.

Congrats Dawn. Keep it up. 

Shawn who are you using for your 85% ltv financing?

 Check Dawns site I know she lists some contractors she uses. 

Two things are for sure, the contractors will be expensive and the quality of work will not be up to your husbands standards. 

That said, if your faced with losing $4,500 in rent over the next few months that should be an easy answer that you should be willing to spend at least that much if you can get it done in a timely manor. I'd prioritize the things you think would normally take you the longest to do yourself, budget them out, then see whats left that you might be able to do yourself to save a little money, so long as it doesn't extend your timeline. 

We all at some point in time, myself included, bought properties, and tried to do almost everything ourselves and every time, especially when I was working full time, they took much longer than expected. While I could tell myself I saved money, it never offset the lost rent if I just would have just found the money and paid someone upfront. 

Definitely focus on just one unit first and get the check coming in than work on the other. 

GL

We went through this on an auction property as well and ended up pulling out of the deal without issue. We asked the seller for a credit which they would not agree to. 

The seller will first review their property preservation records to confirm the date when the incident occurred. If they can confirm it happened prior to when you were to close you should have an out based on a change in the condition of the home from when you put it under contract. 

Your insurance should be a little lower but it doesn't appear you've accounted for any water, sewer, trash, common electric, snow removal, lawn, etc... That said, if its 4 2 bed units, it sounds like the rents are under market value pending the specific area would think at least $650/unit. Given that it also sounds like it needs repair, I think you'd want to get it a little cheaper to make it work.