All Forum Posts by: Tim Hall

@Jonathan Blocker hey man I have an opportunity for you. It’s ideal for house hacking. It does need a well and is in the country but is close to lake Talquin, boat ramps. Hit me up.

@Tomiko Graves $13k on that bathroom, no way. Put bead board over the tile around the room. Paint the tile in the shower tub area, vinyl plank on the floor, new vanity and toilet. Maybe $4k at most. I have spent that amount on a master but I gutted it to the studs and it had a stand alone tub plus a shower stall with frameless glass doors custom double sinks ect ect it was double the size of that room. What’s he thinking about doing, gold floors and taps?

@Anthony Wick I think you’re looking at the wrong lead pipe. These people are probably looking on the mls and overpaying. Start sending out some letters or try finding the deals where others aren’t looking. Fighting for something that isn’t there is just frustrating your efforts. Good luck

@Keith Shields hi Keith, hope all is well. We should hang out sometime. Chew on some real estate cud.

1045 E Washington St, Monticello, Fl

2 bed 2 bath property, could easily be a 3/2
It's 2035 sq ft Both baths have been updated and look great. Newer roof and windows, 4 sides brick. A/c regularly serviced.
The property is nicely maintained will need some TLC to flip or rent.

Repairs

Paint
pool needs to be filled in or repaired
Its carpet throughout, I'd replace with laminate in the common areas and leave in the bedrooms
Kitchen is dated, I'd paint the cabinets, replace the appliances
Some soft spots on the flooring by the fireplace, repair

$20k for repairs Max

After repair Value. If you look at realtor.com it's $204k Zillow is $201k I'd say $160K to get rid of it fast.

@D.J. Parten

sounds good

@Anthony B. the one in Settlers springs is still available but is going through a rehab and the one on E Brevard has been finished and is on the market. The rest were sold or rented.

@Brandon Johnson oooo man that’s a slim. You could even end up paying every month for this deal. If the equity is rising 6-10% every year you may be on to a winner. If it’s in midtown or Killearn it may also be a safe bet but I don’t think it is because of the price. Even as a listing this is slim. Just no

Hey @Brandon Johnson 6 to 7 cap is low for Tallahassee. Unless you are getting it for 0 down or they are doing owner financing then this is tight. Don't worry about future rents think about what's happening now. Either negotiate with the owner to get it to $700k-$750, or get them to hold paper on it. I'm just afraid that with the amount of new builds happening around town that your vacancy rate is going to go up and your rents are going to stay the same. I know I'm predicting but I'm predicting in the worst case scenario and believe me I've seen the worst case scenario a lot. 

look me up when you get to town, cheers