Tag: Investing

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Real Estate Discussions W/OWNASPOT Live! (Section 8 Housing)

Real Estate Discussions W/OWNASPOT Live! (Section 8 Housing)

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The 70% Rule In Real Estate

Do you expect to list a house at $250,000 after $30,000 in repairs?

Following the 70% rule, your offer should clock in at $145,000 or less (250,000 x 0.70 – 30,000).

 (The 70% rule says you should only offer 70% of your expected after-repair value. It’s a long-held investment formula that keeps you from overbidding and safeguards your returns.)

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House REHAB PLAN

Step 1 – Pre-Demolition – Any Main Structural/Safety concerns such as Interior Framing, Support Beams needs to be repaired.

Step- 2– Demolition- Need to remove any garbage in garage house, and remove and replace anything that is not structurally sound or wanted in a dumpster or trash can.

Step 3 – Plumbing/Electric/Sewer/Mechanicals – Get an estimate for any Plumbing, Electrical, Sewer, Mechanicals (Furnace, Water heater, AC) work needed and get and estimate on Sewer flush

Step 4 – Walls/Paint– Get an estimate on Drywall (Material and Labor) and Paint or DIY

Step 5– Fixtures – Install all fixtures Kitchen Cabinets, Sink, Bathroom Tub, Toilet, sink, Tile, Switches, Outlets, Ceiling Fans, Lighting etc..

Step 6 – Flooring – install whatever mix of flooring that you want to install in the house get estimates

Step 7 – Finishing – Any Miscellaneous things that are needed to be installed or repaired anything that needs to be touched up any exterior work Roofing, Siding, Gutters, Garage, Landscaping.