donica maring free full downloadable games jay brown stagecoach pro forma excel cheap ticket to cochin paula deen cook show xtreme of atlanta catching fiddler crabs novelty sweats limerick bedpan puresinn com cornhole plans accident attorney construction sacramento arvika design cherokee ribbon shirt coil pack for 97 sebring weber state football corpus christi fire department recruitment little model pitures snyderstreasures infinity in ceiling speaker cs60r military magneto telephone potassium bicarbonate phosphoric acid active inactive ingredients supplements 4008mustang hyperdynamic blood pressure cowtan and tout kelly carlson pics ankle rash haliburton and new orleans contracts titus lavinia fat albert theme song trial attorneys maryland fresh fruit processing cook auto sales ethanol problems soft touch washington park foamy the squirell travel trailer maintenance own daughter of colida die trying trail scots irish family crest handcrafted soap indiana deep water property townsend georgia tag 8192 download fuel injection atv florida chamber commerce teaching multiplication facts mercenary films nina canal obscene tee shirts preschool rules spirit of liberty bike driving safety distractions grand marival nuevo vallarta dan morrone brasileira women in love internet download manager 3 14 bolero ravel music louisiana facial plastic surgery trout fish farms adrain rogers rat patrol tv show amg lite com finding a persons email address jean francois chastain nevada tmj treatment gas fireplaces discounted pectus cat fake doctors note form jezebel lingerie boulder county job listing scoopy com resort research firms angled bob hairstyles hellion screams in the night tennessee business service microsoft windows registry repair adult binaries free pool therapy and injured back trachten jewelry high point lasik ilo technologies elizabethtown the movie relation agence annonceur bratton martha pacemaker infection deadbolt turbos samantha runion court transcripts desktop taurus wallpaper pizza coloring pages free raiders desktops dell inspiron 500m backlight base guitar for sale wireless emergency alert systems mace swat jacket aurora borealis jewelry knights ferry california vacation rental scarf with sleeves haunted cemeteries in buffalo ny
I found a house MLS not the way I normally buy. I checked the place out and told the agent I am interested. here are the details.
2/1 648 sq ft. 24X27 built in 1950 roof leaks, kitchen will not pass codes, termites and moisture damage, plaster coming down, back half of house drops 2" in 12 feet. Agreed verbal for offer about 30 - 35K I had thought about 30K to rehab and resell retail around 99K. The more due that I do the more I feel like tearing down to foundation good block and rebuilding.
The plan now is to build 2 story 3/2 and retail for 120 -130K I have great knowledge of building and can do most of the work, if I have to. Pricing is where I have doubts. does $45-50 per square foot construction cost sound about right. This will be a plain jane unit nothing fancy.
Anybody have some insight to offer. I just see too many variables involved. Been working numbers for 2 days and have analisys paralisys. Help
Posted by DaveD (WI) on October 14, 2005 at 08:14:51:
Major construction is usually a bad idea… unless there is serious upside potential. Say a crummy house on the water… in a neighborhood of expensive houses. Don’t think you have that with your scenerio.
Plan B may be to drop a match (after you own it) or otherwise bulldoze it… then again, you need upside potential. Teardowns make sense in the right neighborhood.
Plan C would be to just clean it up and pass it on to the next guy. Let him futz with the planning & building depts. and major headaches that come with extensive rehabs. Ask me how I know.
Posted by ken in sc on October 13, 2005 at 11:37:34:
Why not just do the 642sf rehab? Less work and a decent profit. I don’t know any 642sf house that I cant fix completely up for 30K. Around here we can completely gut a 900-1000 sf house for 30K (I have one now).
I say knock this one out and have another purchased to do after that. It seems to me the you just want to add the 2nd level, but it doesn’t make good business sense.
Re: Need a different perspective - Posted by analysis
Posted by analysis on October 13, 2005 at 11:01:01:
You say you will be doing most of the work.
So get formal bids for the work you can’t do.
Add the actual cost of all materials you’ll need.
Add holding costs, permit fees, dump fees, overhead, sales costs, etc., etc., etc.
Realistically estimate your own personal hours of work per job you plan to do.
Set a realistic timeline to finish.
Add a healthy safety margin to everything.
Add up all the costs.
Subtract from realistic sales price.
Divide net profit by your estimated hours of personal work.
Decide if it is worth it.
Don’t forget to add in lost opportunity costs.
In many cases, this mostly one-man, time-eating, extensive building approach is just a form of giving oneself a full-time j.o.b. in the construction industry, not truly working as an investor. However, if you can do it so you can refinance (at 80%LTV or less) out the money you put in, then repeat the process, and keep the houses you renovate - rented out with a positive cash flow - it might be a good approach, imo, as you would be building up long term, permanent wealth instead of just working for a “paycheck”. That would make your time invested way more valuable.
Max,I am in Soutern Ca. Inland Empire Loam Linda ,
Redlands area. $40-$45/sq ft is materials only.
Add to that labor and city fees, engineering, drawing,
footing, foundations etc.
If retail is $130K it is not wise to build.
Your numbers are way off on rehab retail for $99K and new at 3/2 baths at $130K. You will probably double
the sq footage with the new house and only increase the
value by $30K from 648Sq ft to at least $1400Sq Ft. I don’t get it.
RDLAZO
Re: Need a different perspective–Rehab - Posted by Chris (WFL)
Posted by Chris (WFL) on October 12, 2005 at 22:56:08:
Ouch $40-50 a foot. Where are you located??? might want to give some more info.
I am no expert but around here it was over $100 and I think it is now closer to 150-200
Good luck
Chris
ufo video clip playing card graphics paypal e gold exchange ed doell prarie lamps memphismix com moen replacement parts adult road trip games lafayette eyelid surgery wedding fountain punch recipes designing light steel framing motorola ht1000 radio free lotto scratch off tickets max media manager for psp national sleep association baby products at wholesale prices pat nakata doggie bandana slip over collar ibm crypto dcm kaufmans department store 2005 classic winning baits firsttimeswallows nikki gallery ar 15 manufacturers forest fire lighter fluid orfy marriage free microsoft fonts granite entries acu pattern bags gillette stadium club seating sherrie graham spannair how to hard boil eggs how to use fiberglass materials sammy davis jr book copyright laws on music corey cramin pattaya a go go girl coffeyville kansas 9 3 1970 antique ammo maurice schwartz topper car backdoor remover home insurance fort worth sonic the hedgehog action figures japanese americans psalm internment camp sarasota county pdf files accounts payable resume disability law firm wisconsin mcidas enhance table tokyo japan business class how to flirt with guys rocky top mp3 microsoft gps software poems for memorial services apple iie mecc dpf 0561 oxycontin 512 tiltable sure foot pedal rest homesites terrell hills teen iq test pineville funeral inspirational thoughts on surviving cancer social work jokes seconds sins third reich hago construction company kauai free butterfly cliparts street fighter online upgrades rgs frame christmas free games andrew kenyon artist jay denny shrewsbury dog run build transplante de cabello en peru metal leaves and flowers westie breeders rescue auxiliary diesel fuel tank audio files avi mpeg atv sales utah horn loaded bass bob habermehl race cars how to paint on canvas petro and melissa dangers of ibuprofen houses for rent in spokane charade ideas bigsky carvers student reading log runescape easy level up texas nursing home negligence lawyers steve mcqueen owned cutting houston high desert warehouse lease sailing classes for women american revalution pluma sweatshirts genetically modified food myths philadelphia car accident lawyers edmuns auto machinist tool list sharepoint restore tool