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- Aug 19, 2015
How much does a full remodel like that typically cost?
How much does a full remodel like that typically cost?
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House is 10/10 would live.
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- Sep 30, 2012
Finished pics of my newest project. Purchased for $710k. Put it on the market for $899k and received mulitiple offers within 2 days and accepted an offer for $915k. Could’ve went with a higher offer but the couple who we accepted an offer from wrote a very heartfelt letter saying how the husband lived in the neighborhood for 20 years since he was a kid, recently married and expecting a child, and how hey would love to raise their child in a very family oriented neighborhood.
For the work, total remodel. Opened up the living room by knocking down a wall so we can take advantage of the view right when you walk in. Hardwood floors throughout. Retiled the fireplace w/ stacked stone. New kitchen and appliances and added a pot filler for a subtle detail. Built a brand new 50ft deck in the backyard with views of downtown SD and ocean. Added wood slats in the front of the house to add curb appeal and also did landscaping with drought tolerant plants. Master bath features dual shower heads, stand alone tub, his & her faucets, and a safe in the master closet. Whole house was wired for turning it into a “smart house” via iPad which is wall mounted in the living room.
This has become one of my favorite builds to date. Even my wife asked if we can move into it. Lol.
That looks dope man.
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Thank you!
The remodel cost on this one was around $85k. It's on the higher end due to the materials we used, the brand new deck, etc... We used higher end materials because of the neighborhood and the price point we were asking.
ekrev98 that place is gorgeous! Mainly been lurking, but your work is impressive and inspiring to see. Makes me seriously think I need to get my money and priorities straight.
Thanks man! If not flipping, look into investing in rental properties.
$710k purchase + $85k in remodel costs = $795k. In escrow for $915k and about $30k in closing costs. So about $90k in profit for 1.5 months of work.
Deals in SD that are lucrative are becoming very hard to come by. Anything on the market, investors are overbidding and getting snatched up quick. I need to start hitting the streets again and look for off market deals. I've even offered a finders fee of up to $5k to my friends and family if they can refer me somebody who is looking to sell their home. All they gotta do is give me an address or put me in contact with the owner and I'll do the rest.
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Lol i left. Moved down to fl to start buying rental properties.
If i would have stayed
Mt vernon and New Rochelle you can still find a decent house under 350-400k. Prices are rising so try to find something that needs a little work and you can get a little discount but the issue for me was all these houses i saw are 60-70 years old and you gonna be upgrading things every few years so you have to take that into account also.
Yonkers depending on the area you could find something affordable. Taxes are also generally lower also.
Where do you work? If you wouldnt mind going further north you can save some money also but for me it wasnt worth it.
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We closed on the sale of the house last Friday. We listed the house for $599k and got 9 offers. House sold for $850k. About $100k more than what we were hoping for.
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Damn nice profit. How many bed/bath/sq ft?
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$250k over asking! 42%. That is crazy.
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2 bed 1 bath 1200 sq ft
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What was your final take away?
Same predicament.
Paid 450k for duplex. Bought to list for 960k. Owe $137k, giving my sister 100k so $300k gone after fees and contingency (if buyer needs credits etc)
Even with 700k take home, I can afford nothing in good areas cause everything is 700k-900k and need work.
Got me looking to move out the city which I don’t want to do
Same predicament.
Paid 450k for duplex. Bought to list for 960k. Owe $137k, giving my sister 100k so $300k gone after fees and contingency (if buyer needs credits etc)
Even with 700k take home, I can afford nothing in good areas cause everything is 700k-900k and need work.
Got me looking to move out the city which I don’t want to do
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- Aug 19, 2015
Why wouldn't you just put down 20% on whatever house you want, keep the rest of the cash for improvements / investments?
Not trying to have any mortgage at all?
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Yeah. Want to pay insurance and taxes only. Have a 18 month old so I want to focus on getting his college paid for the next 17 years. Also gives me a chance at being a stay at home dad
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Bro you came up
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Where is this at?
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After taxes and agent fees, we walk with $450k.
Do you have the option to not sell? Maybe do a cash out refi and use that for a down payment on the new house. Rent out the duplex and someone else basically pays for your child’s college tuition.
Oakland CA
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I'm looking at Hartsdale currently if I can't find anything in Bronxville, Eastchester or New Rochelle. Since I'm looking for a Co-op, I'm confident I'll find something soon vs someone looking to purchase a home in those areas because the prices are insane & property taxes in Westchester County are considerable, to say the least.
As for relocating, that's an option I've been considering for a while. Houston would be my #1 option and Cali would be my most desirable option.
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Wife's a sheriff and does now does evictions. She never believed me when I told her it cost me almost 9k to get a bad tenant out so we're over being land lords. It's good money, at times, but something breaks, it's on me x2.
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- Mar 10, 2013
How the hell do 95% of these working families afford a house in this market?
My wife and I do just fine, no kids, and we're having a hard time finding a house within a reasonable budget... **** is crazy out here b. These prices cannot be sustainable. Next move is creditors are going to start offering 40 year loans. Watch.
My wife and I do just fine, no kids, and we're having a hard time finding a house within a reasonable budget... **** is crazy out here b. These prices cannot be sustainable. Next move is creditors are going to start offering 40 year loans. Watch.
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Cars already got 10 year loans goin on. Wouldnt be suprised at 40/50 years.
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- Dec 19, 2013
"no inventory" is what the realtor keeps saying.
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- 10,478
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Right? Free rent, all the repairs, and the process added up.
cs02132
Supporter
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- Nov 1, 2007
This thread is a good read 
I’m in Boston and starting to think about if I can even afford to live here. Planning on living at home for a few more years while I keep saving. I have some money saved and I’ll have a decent amount in a few years time, so I’m also wondering if I should look into investing in something
I’m in Boston and starting to think about if I can even afford to live here. Planning on living at home for a few more years while I keep saving. I have some money saved and I’ll have a decent amount in a few years time, so I’m also wondering if I should look into investing in something
