New Meetup: Determing the Best Rehab / Exit Strategy for Latest Fix and Hold Aurora
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I’ve scheduled this meetup to share ideas and insight amongst fellow investors. We’re getting ready to close on our next project (which happens to be a fix/hold) and the property is a bit unique in that it supports a number of different exit strategies.
The property is an SFR and is currently a 2bd/1ba/1car with an unfinished basement. I’m getting the property (from a fellow wholesaler) for $76k and the ARV is about $135k assuming you turn it into a 4bd/2ba. Initially I figured the only way to do it was to go ahead and add a bathroom and finish the basement but now I’m rethinking things.
What happens if you were to do a bare-bones rehab and leave it as a 2/1? Your ARV and estimated rent drop BUT your cost basis is significantly less. I’ve put together a couple scenarios to understand what happens with different levels of rehab and project length, it’s interesting to see what happens to the cash requirement and returns, you may be surprised.
I think I’ve got a pretty good idea of what I’m going to do with the property but I’m not completely set. I look forward to your input and discussion on the different options available. I’ll bring printouts of the different scenarios I’ve come up with.
Hope everyone can make it!
Ed
(303) 870 4749
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Related Entries:
- Our Latest CashFlow Property
- Enternainment Complex in Aurora depends on…
- Fix and Flip / Fix and Hold – Project Punch Template
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