Usually appraisers ask what improvements were made. I wouldn't know what to say to that. Any ideas?
As an example, say I buy a turn-key duplex for 165k in cash off-market. Maybe I make some tiny improvements. Maybe it's just some touch up paint. Say I cash out refi a month later. Say it appraises for 220k.
75% of 220k is 165k.
That would be a successful BRRR on a turn-key property, right?
Wholesaling five properties in a week or two. I need the cash to accelerate rehabs. I'm up to my neck in renovations on condemned properties I own.
Anyway, a friend's parents want to sell three of their duplexes. Example for one: The tax value is 190k, but I would need to buy it at 180k to meet my minimum investment criteria. So the only option is to wholesale it to another investor. Because they're not going to take less than the tax value.
Although, none of these are good investments above it. Example of that one under contract for 200k and I assign it for 205k... It only cash flows $80/mo with current rents and $280/mo at market rents. Cash on cash return is 8%.
Materials $500-700. I'll have a helper for about $150 of their time. Client already bought door.
I ballparked $5k to install (low cost of living area).
I'm thinking to put a do not exceed price at $5700. Is this reasonable?
(cost of living index 90)
Client has two windows, and want a sliding glass door installed instead (in red) that is wider than the left window. That extended part of the house is just a large living room with no second floor.
The load of the roof goes down to the foundation (because no second floor).
Before I submit plans to building inspection, I just want to make sure I should be bracing the walls in the first place. This is a case where they should be braced, correct?
Example: under contract for 195k. Wholesaling for 200k in Wisconsin.
They are using a hard money lender. The title company has everything.
Contract is assignable. So should I ask them why? Or just give them the first page that proves it's assignable?
More context, they already signed my assignment agreement and showed proof of funds (letter from hard money lender).
Also doing a double close.
On murphydoor website, it looks like just heavy duty drawer slides. Or are they using something more robust/specific?
