Live & Flip

Tale of Two Rentals

It was the best of rentals, it was the worst of rentals. Let me compare two rentals I have and share my mistakes and lessons learned. Rental 1 is a 1630 sq ft 4/2 brick with a 1 car garage. Fully finished basement. The lot is about 6400 Sq ft. Moderate traffic street, low end neighborhood. Asking rent is $1200. Rental 2 is a 1030 sq ft 3/1 aluminum siding with 1 off street parking driveway. No basement, crawlspace only. The lot is 6300 sq ft. Slightly higher than moderate traf...

Rehab costs

I need to get back in the swing of blogging. I'll update the rehab costs for the home and give you a general update on next blog. I used a template from JScott over at www.123flip.com.  Its very useful for gathering numbers.  We went about 20% over budget. To be expected for first timers. We will certainly nail it down better on the next one. Overall I'm very pleased with the outcome. Based on local comps, the house is conservatively worth $270,000 and could likely pull $300,000 based ...