29 August 2018 | 4 replies
Because they had renters insurance their company came in, did an estimate and wrote me a check for the damages and repairs.
30 August 2018 | 18 replies
If you accepted the condition of the property when you signed the lease, and the home came equipped with working AC, the landlord must accommodate the repairs or replacement within a "reasonable" amount of time.
28 August 2018 | 4 replies
My first questions are as to why you are using only 6% for vacancy, repairs and CapX?
28 August 2018 | 10 replies
The basic information is below and comes from owner-supplied rent roll and 2017 figures:Listed Price: $339,000Gross Rent: $47,520 ($495/month per unit)Taxes: $1,506Trash: $666Utilities: $6,406Cable: $1,982Maintenance/Repair: $4,673Insurance was not listed in the numbers given, so I estimated insurance to be around $1,617 based on 0.003% of property value plus $75 per door.
28 August 2018 | 1 reply
With 5% vacancy, 5% for Repairs/Maintenance, 4% for reserves, and 10% for property management, the cash flow will be $110 after mortgage payment.
30 August 2018 | 4 replies
I've started negotiating with the seller about repair/credit.
31 August 2018 | 13 replies
Looking at your deal and running my numbers (I also use hard money that lends at 70% ARV, 13.99% interest and 4 points), you would need to get the purchase price down to at least 230k, preferably even lower in order to get the HML to fund the full repair (assuming you can even find one that will do 100% purchase and rehab there).I have spoken to a lot of people doing deals in Atlanta and I know there are some pretty cheap properties there that make great deals.
28 August 2018 | 2 replies
I am worried about not being able to calculate the repairs needed on the property if I don't view every unit.
28 August 2018 | 0 replies
Scope of work:-install luxury vinyl flooring-install kitchen appliances-new kitchen counter-paint kitchen cabinets-paint interior walls-roof replacement-termite damage repair-paint house exterior-plumb gas and drain to rec room kitchen-draw plans to submit to city for permitting
6 September 2018 | 10 replies
On the other hand, if you have a considerable claim in the first couple of years, you might have to cough up a good amount of cash with ACV to repair the damage.We recently paid a claim on a 65 year old home that had a small kitchen fire.