Property Rehab: Fixer-Upper and Construction Talk

Hi. Not far from where i work there is an abandoned apartment complex that’s been boarded up for about 10years. I went to the county site and looked up the owner who's about 85years old and probably doesn't even know what to do with it anymore. I also found some information about the property. There are 3 2story buildings on 2lots with 30 apartment units(10 units in every building).My issue is that I can't get the assess value of the complex because it is the only one in the area. The rest of the neighborhood is low income houses. My main interest is to obtain the property, and sell it to the city's Section 8,HUD, or Public Housing Program. Because I noticed that the demand for public assistant and low income housing is rising in the city.

I looked at a property in Cincinnati. The outside looks great and only needs a minor paint job and grass cutting. The shed and Garage need to be removed as they are falling down! The property inside is from 1928 and asking only 36,000. A normal 3/2 house.

Here is the catches three people to sign contract as they are all siblings. Back taxes due, and while they were showing the property to a gentle men or rather thug i should say he came back and stole all their copper pipe.

I acquired a property through the tax lien process. Due to the circumstances, neither a full inspection nor seller disclosure was possible. There was water in the basement even though no one had been living in the house for some time. I talked with the next door neighbor who reported on-going sewer problems in the area. I contacted the city. They couldn’t tell me anything. The city maps showed there were two, possibly three ways my house could connect to the city sewer. The city did finally say that this house was on a “private sewer line” that the city was unaware of and took no responsibility for. Apparently some years (40 plus years) ago they allowed contractors to build sewer lines and hook them into the city mains. That began a process of working with the city.

Some DG members were asking for help with after repair values so here is a tool that can help you.You will need an Excel or a spreadsheet to use it.

PS After you download it,go to YouTube and type in

Real Estate Offer Calculator and watch the video on how to use it.

Let me know if you have any problems.

whurndon
H&H PROPERTY SOLUTIONS LLC

Hi DG family,I have a tool software that is totally free I got attending a webinar a couple of months ago and wanted to share it everyone here.The link is below and once you open it up,go to the top right corner to downlod the original link.This software tool with the property info,will tell you holding costs if decide to hlod repair and flip or assign and will estimate your profit margin.I hope I get this link right,please let me know if you have any trouble.

whurndon
H7H PROPERTY SOLUTIONS LLC

If anyone can help, that will be awesome. We been having problems accurately estimating repair cost for our wholesale homes for our buyers. What methods do you guys use and why do you use them.

Thanks a bunch--Jason

Actually, I happen to like moldy houses now. They tend to sell really low and banks want no part of them. Now, I am no mold expert by any means but I just happened to have a situation where this applied.

A couple came to me wanting to short sale their house with tons of mold in it. Black mold in every room, it was insane. I had no idea what to do so I went to a mold remediation expert and he said that it would cost around 20-30k to get rid of.

I then went through the process with him step by step and come to find out the majority of the cost is labor associated with the removal of debris, drywall, etc. Come to find out that the bleach compound is really the only thing that actually kills the mold.

Hey DG Community, good stuff to keep up on.

EPA Requires Landlord Certification for Renovations
New Rules effective April 22, 2010

In April, 2008, the USEPA issued a new rule requiring the use of lead-safe practices and other actions aimed at preventing lead poisoning. Under the rule, beginning April 22, 2010, contractors performing renovation, repair and painting projects that disturb lead-based paint in "child-occupied" homes and facilities built before 1978 must be certified and must follow specific work practices to prevent lead contamination. The rule will affect paid renovators and property owners who work in pre-1978 "child-occupied" housing and facilities, including:
1) Renovation contractors
2) Maintenance workers in multi-family housing

First time poster and an investor / rehabber located in the WV market. We are constantly rehabbing 4 to 6 properties at a time. I find it difficult to track the detail work and materials required by property, the progress of the rehabs, and the detail costs of each component (Plumbing / roofing / windows / Doors / Kitchens / etc).

Just bought a 3 family house and i need some advice on weather if i should change the heating system to electric or should i just leave it as oil. Which one would be cheaper for me, any advice would be greatly appreciated.