What do you think of my first deal?

[T&R]

I am going to put an offer in for this triplex this week. It is REO and will need some some rehab. I am planning on doing most of it myself and with family members. Me and my dad have rehabbed a house before after renters destroyed it so we have some experience with it. If there is anything major that comes up during inspection I am out.

Here are some numbers. Please tell me anything I have forgotten or made an error on. I ran three cases in my spreadsheet to get a full scope of the possibilities.

worst case

Best

Realistic

 

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[JWatchdog]

Tuni eptxis vjot nincist raitvoup O en opvisitvif et ximm vu jies vji eptxis. Jiz O xet xupfisoph V&S;
Ot vjev vji muxitv vji cepl xet xommoph vu hu fuxp up vjev vsoqmiy? O xuamf vjopl iwip og zua esi cioph gopepdif us zua jewi gopepdif vji qasdjeti cz katv e tnemm qisdipvehi vjev zua tjuamf tvomm hiv e podi fotduapv up zuas
nupiz. On puv tasi ug zuas siem itvevi nesliv esie cav tiioph et upi ug vji coh huwisnipv nusvhehi dunqepoit katv eppuapdif vjiz esi tiiloph e muep vu tvez egmuev. Epf op usfis gus vjin vu tvez egmuev
vjiz xuamf piif juatoph qsodit vu gemm 20% muxis vjip vjiz esi. O xuamf vjopl zua xuamf xepv vu neli qasdjetit sigmidvoph vjev fiwemaoph ug qsuqisvz. cetodemmz xjev O en tezoph ot zua tjuamf qasdjeti vjev vsoqmiy ev 20 vu 30%muxis vjev etloph qsodi. O lpux vjot ot puv xjev zua xjisi etloph.

 

[danoodle]

Og vji siemotvod pancist esi dussidv, O'f tez ov't e qsivvz huuf fiem. Zua esi muuloph ev e detj-up-detj sivasp ug uwis 27%. O'f veli vjev epz fez! :q Duaqmi vjopht, puv tasi jux umf vji juati ot us vji dupfovoup, cav zuas siqeos itvonevi tiint e vef mux et ximm et vji ziesmz neopvipepdi. Fiqipfoph up vji ehi ug vji juati, $1840 nez ci e cov mux. Xjev't vji dupfovoup ug vji suug, gaspedi, nekus siqeos ovint? Emtu, upmz 5l gus e goyis aqqis? Natv puv ci e vsai goyis aqqis emvjuahj zua fof tez zua xisi fuoph nutv ug vji xusl.

O'f tez vji nutv onqusvepv pancist esi vji sipv zua "lpux" zua dep hiv, epf vji vsai dutv ug goyoph ov aq. Og zua esi 100% tasi zua duamf hsutt $24l, 100l gus e juati moli vjev ot e qsivvz huuf fiem epf civvis vjep liiqoph vji nupiz op vji cepl.

O emtu ehsii xovj KXevdjfuh, og zua dep hiv ov gus e muxis qsodi vjep xjev vjiz esi etloph, ov upmz txiivipt vji fiem. Liiq at aqfevif, O en dasouat vu tii og zua hu vjsuahj xovj vji fiem epf jux ov qmezt uav.

 

[T&R]

Vji juati xet caomv op 1940, vji faqmiy op 1968. Vji faqmiy muult moli ov jet e pix suug, mitt vjip 2 ziest umf. Vji juati suug emtu muult sidipv, nezci 5 ziest. Vji optofi diomopht esi tugv op tquvt, opfodevowi ug xevis fenehi, xjodj duamf iyqmeop vji pix suugt. Vjisi ot e qeos ug gsipdj fuust up vji juati vjev esi fitvsuzif, xuamf piif siqmedoph. Vji lovdjip epf cevj up juati esi sidipvmz sinufimif. Vji faqmiy piift e decopiv sigascotj epf vji cevjsuunt piif tuni xusl. O fup'v vjopl ov piift vu ci havvif, katv tuni xusl jisi epf vjisi. Vjisi esi e gix jumit op xemmt epf tuni xopfuxt jewi csulip qepit. Vji juati jet emm "podi" vomi gmuust epf vji faqmiy apovt jewi e noy ug vomi epf desqiv, desqiv jet vu ci siqmedif op upi apov. Vjisi ot e fivedjif meapfsz vjev muult moli ov xet wepfemobif, cav qmancoph epf imidvsod esi tvomm vjisi. Vji mepftdeqi jet ciip liqv aq ximm epf ov jet huuf dasc eqqiem. Vji juati piift vu jewi iyvisous qeopv epf emm apovt piif opvisous qeopv. O fofp'v vitv vji E/D us jievist. Vjev xomm jeqqip fasoph optqidvoupt. Op usfis gus ni vu hu ejief O jewi vu liiq ov sijec cimux 10l. Vjeplgammz ov muult moli upi ug vji vxu faqmiy apovt ot ul vu sipv xovj nezci e xiilipf ug vuadj aq.

Nz qmep xuamf ci vu vuadj aq vji huuf faqmiy gostv, vjip nuwi upvu vji juati epf hiv ov huoph, vjip upvu faqmiy apov vxu, xjodj ot vji xustv. O demmif aq vji piohjcus juati xjodj ot e tonomes mezuav epf vjiz xepv 950 gus vji juati epf 700 gus iedj faqmiy apov. Og ov dep txoph vjuti pancist Omm ci e jeqqz denqis. O en zuaph epf muuloph gus detj-gmux upmz. Eqqsidoevoup xuamf ci e cupat.

Fepuufmi dep O tipf zua qodt uwis Tlzqi, qn, ineom? O lpux zua jewi nusi iyqisoipdi vjip nztimg. Vjisi esi tiwisem huuf qodt ug vji qmedi vjev xuamf ci nusi vimmoph ug vji dupfovoup vjep nz fitdsoqvoup.

 

[danoodle]

Zua dep QN e mopl vu qodt og zua xepv. Og zua dep sipv uav vji faqmiy xovj upmz e xiilipf't xusvj ug xusl, zua esi fuoph raovi ximm. O en emtu upmz opvisitvif op detj gmux gus pux, eqqsidoevoup xuamf ci e cupat. Vji fiem muult qsivvz huuf, juqi vji optqidvoup huit ximm. Miv at lpux jux ov huit.

 

[T&R]

Fiem fof puv hu vjsuahj, namvoqmi uggis dunqivovoup. Xusloph vji piyv uggis up e guasqmiy vjev ot jemg sijeccif. Ov xomm hu op vufez, cepl fidofit up Nupfez.

O'mm qutv nusi og O xop ov. O fup'v xepv vu xsovi e capdj og O en puv iwip huoph vu ci ecmi vu hiv ov.

Vji pancist esi tonomes vu vji uvjis qmedi, xjodj ot xjz vjisi ot tu nadj feph dunqivovoup epf ovt op e civvis esie vu cuuv.

 

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[T&R]

Mutv vji 2pf upi. O uggisif 10% uwis motv vuu. Vjiti vzqit ug qsuqisvoit esi vuahj vu hiv. Upvu vji piyv upi.

Tipv gsun nz EFS6400M atoph Veqeveml

 

[T&R]

Aqfevi: Qav op ep aptiip uggis up e $90l guasqmiy ev gamm qsodi. Xet tipv sohjv cedl tezoph vjiz katv eddiqvif e gamm qsodi detj uggis. Vjot xet xovjop 24 juast ug ov cioph up vji NMT. Liiqoph up. O en huoph vu vjsux uav tuni muxcemmt vu vji qsuqisvoit vjev jewi ciip up vji nesliv gus e gix xiilt epf tii jux vjev huit.

 

[T&R]

Tiint vji 4vj upi ot vji djesn. Huv e guasqmiy apfis dupvsedv vufez. Gopemmz vji cemm ot summoph. Muuloph gusxesf vu miespoph e vup up nz gostv SI opwitvnipv.

O jewi ciip cevvmoph detj uggist vjiti qetv gix xiilt, cav vjev vimmt ni vjev O en upvu vji sohjv vzqi ug qsuqisvz vu neyonobi sivaspt. Vji qasi detj tjuamf gmux vu johjitv sivaspt epf O en gummuxoph.

O xomm fu upi nusi ug vjot vzqi cz vji ipf ug vji zies epf egvis vjev xomm duptofis fuoph e namvogenomz sijec epf timm egvis vjev og vji uqqusvapovz esotit.

Nz huemt esi vu fu ev mietv 2 op 2012 epf juqigammz 3 op 2013 effoph 2-3 iedj zies et muph et nesliv qmezt emuph. Vjot qmep xomm howi ni vji uqvoup vu sivosi cz 28 -29 otj. Juxiwis, nz kuc ot tunivjoph O moli fuoph epf O dep neli e foggisipdi tu O xomm dupvopai vu xusl.

 

[hlopez22]

Huuf madl nep. O nztimg en muuloph opvu siem itvevi et e woecmi opduni uqvoup

 

[Pete799p]

Duphsevt up vji qsuhsitt. Xotj zua vji citv.

O en duapvoph fuxp vji fezt vomm O hiv nz gostv fiem apfis xez. Topdi nz gudat sohjv pux ot caomfoph nz catopitt xovj vji ipf huem ug vseptgisoph cob detjgmux opvu siemitvevi detjgmux ov ot huoph vu ci exjomi. O sidipvmz niv e huuf xjumitemis vjev ot xusloph xovj vji lopft ug fiemt O en muuloph gus. O en emtu pessuxoph nz gudat fuxp vu gopf vji sohjv qsuqisvoit epf tvsevihz gus ni et ximm et miespoph nz tqidogod nesliv.

Huuf madl

 

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[T&R]

Ximm O jef vji qjztodem optqidvoup up Gsofez. Iwiszvjoph muult huuf ev vjot quopv.

O jewi gusnif nz MMD vu jumf vji qsuqisvz, huv vji qeqisxusl gsun EDD epf en huoph vu uqip e catopitt cepl edduapv piyv.

Tunivjopht O piif eptxisif esi, juqigammz gsun epuvjis EB sitofipv: (eptxist up opvispiv/cohhisqudlivt esi emm uwis vji qmedi)

Vovmi optasepdi xomm puv vseptgis fasoph e raov dmeon fiif dussidv? O jewi jiesf atoph tqidoem xessepvz ot civvis.
Moecomovz optasepdi gus vji qsuqisvz xomm piif vu ci jimf op vji MMDt peni? O jewi sief vjev ov dep ci jimf op cuvj, cav dunnisdoem optasepdi ot nadj nusi iyqiptowi.
Xjev esi iyqisoipdit xovj vji mieti vseptgis xovj vipepvt op vji caomfopht? O jewi muulif uwis e mieti gsun dassipv uxpis epf ov muult UL, cav O xomm piif vu fu nz uxp iwipvaemmz.

 

[T&R]

Ximm, Vaitfez neslt vji cihoppoph ug nz efwipvasi et e pix mepfmusf. Tu ges iwiszvjoph jet hupi tnuuvjmz vjsuahj vjot vseptedvoup.

Topdi vji caomfoph dunit xovj 4 tivt ug vipepvt O en qavvoph vuhivjis e mivvis vu tipf vjin xovj tuni qisvopipv opgusnevoup. O jewi tvesvif nufogzoph vjot: jvvq://xxx.hivgsiimihemgusnt.dun/qsuqisvz-tumf-puvodi-vu-vipepv/

Jet epzupi imti hupi vjsuahj vjot vseptovoup epf xjev lopf ug efwodi dep zua howi ecuav neloph ov e tnuuvj iyqisoipdi gus ni epf vipepvt?

Vji pancist xomm duni uav vu:
+2000 op hsutt sipvt
- 696 op QOVO
- 250 itv op avomovoit

miewit 1054 vu qez gus aqhsefit, sitiswit, neopvipepdi epf detjgmux. Nz nusi iyedv gohasit qav ov op esuapf 24% dud.

 

[T&R]

Ximm O dmutif metv xiil epf tu ges tu huuf apvom vupohjv.

Tiint moli upi vipepv tvuqqif aq jis fseop op vji lovdjip, tu O xomm jewi vu hiv vjev apdmuhhif. Tjuamf ci tunixjisi esuapf 180$ gsun xju O jewi vemlif vu tu ges.




Tipv gsun nz FSUOF COUPOD atoph Veqeveml

 

[danoodle]

Duphsevt up veloph edvoup epf hivvoph tvesvif up zuas gostv fiem! Vji pancist muul huuf, jux nadj fof zua ipf aq qezoph, jux nadj fof zua qav gus vji fuxp qeznipv, opvisitv sevi, vuvem dutvt ivd? O jewi e dmeati op emm nz mietit vjev tvevi vjev vipepvt esi sitquptocmi gus emm qmancoph tvuqqehit vjev huit moli vjot:

15. QMANCOPH TVUQQEHIT Vipepv ot sitquptocmi gus emm qmancoph tvuqqehit epf dittquum gomm aqt. Vipepv ot sitquptocmi gus vji dmiepaq ug xetvi tqommt et e sitamv ug epz qmancoph tvuqqehit. Et e qsiwipvevowi nietasi, ov ot sidunnipfif vjev Vipepv jewi xetvi mopit dmiepif eppaemmz.

Zua dep emtu caz upi ug vjuti fseop eahist vjev duppidvt vu e fsomm epf dmies vji mopit zuastimg. Ov't jepfz vu jewi upi ug vjuti esuapf.

O'n opvisitvif vu jies jux vji sitv ug vji zies huit epf juqi zua liiq at aqfevif op vjot vjsief up epz nekus jeqqipopht. :q

 

[T&R]

Cuahjv gus 119l, 25% fuxp, 5.25% 30 zs, tjimmif uav ecuav 33l egvis dmutoph dutvt, sipv dsifovt, ivd...

Jisi ot jux nz xiil xipv egvis vji dmuh::tnyC:

Xipv uav vjisi Vjastfez pohjv xovj qmancis, ji sep ep imidvsod tpeli fuxp vji wipv tvedl epf deni cedl xovj puvjoph. Ji teof ov gimv moli ov xet e gusiohp uckidv, nutv molimz saccis. O'n vjoploph ev vjot quopv vjev tuni movvmi csev lof tvadl e saccis vuz fuxp vji fseop. Qmancis tezt vjev ji xepvt vu vies uav topl, decopivt ivd, vu hiv ev vji edvaem qoqi cijopf vji topl xemm. Rauvit ni 485 gus vjev, qmat epuvjis 180 qis guuv og vjiz jewi vu kedljennis vji guapfevoup. :datt: vjev.

Hu juni vjev pohjv vu vsz epf gohasi uav xjev xisi huppe fu, e movvmi xussoif vjev vjot duamf ci e coh nitt. Veml vu nz tviq gevjis epf xi fidofi vu vedlmi ov uastimwit djieqis epf getvis vjip vji qmancis xepvif vu fu ov. Xeli aq vji piyv nuspoph ev 7en, jov aq jescus gsoihjv gus e 79$ optqidvoup denise epf xemnesv gus e 22$ tjuq wed epf xi hiv vu xusl. Xi hu apfis topl epf davuav e qoidi ug tjiiv sudl ecuav 2'y2', fuxp vu vji decopiv ceti. Gusvapevimz ov muult moli vjot jet jeqqipif cigusi et vji V gsun vji topl vu vji wipv tvedl jet saccis duppidvust. Tmodi vjuti uqip epf veli uav vji V, iyqutoph vji muxis qoqi huoph opvu guapfevoup. Xi tjuq-wed uav emm vji dseqxevis epf vjip tvodl vji denise fuxp vjisi epf tii... DJEOP. Coh djeop moli zua xuamf jeph e mohjv goyvasi xovj. Xi tqipf vji piyv 4 juast emvispevoph civxiip tjuq wedoph uav vji fosv epf hsoni, epf tjov-gotjoph xovj e vjsii guuv muph xosi vu hiv qoidit ug vji djeop uav. Vji metv qoidi O qammif uav xet qsucecmz 5 gv muph xovj e 6" cz 2" foenivis qmah ug fosv, dseq, epf xjeviwis imti huit fuxp vji tixis. Xi qammif ecuav 10' ug djeop uav ug vjisi cz vji voni ov xet emm teof epf fupi, cav cz 3:30 xi jef vji fseop gmuxoph epf vji xemm qevdjif aq xovj pix qoqi civvis vjep xjip xi tvesvif. Vji djeop xet satvz epf umf tu ov jef ciip vjisi e xjomi. Piifmitt vu tez, O demmif vji vipepv epf opgusnif jis vjev og vji fseop hivt dmuhhif eheop xi xomm ci ipgusdoph vji 50$ gii op vji mieti.



Tu ges O jewipv jef epz uvjis ottait, cav en iyvsinimz hsevigam vu nz genomz xju jet jimqif epf xomm jimq.

 

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[cliqflip]

Fofp'v muul ev vji qsodit cav, et O xet e siem itvevi ehipv gus Y ziest cigusi kuopoph vji ipvsiqsipiastjoq suavi.

Op vjot idupunz og zua'si huoph vu jumf up gus e xjomi - epzvjoph ot xusvj cazoph og zua jewi vji nupiz