Quote:
Originally Posted by Flash68
Nice work for small potatoes. 
No before and after? What did you do for the $8k rehab? |
Come to think of it, I accidentally erased the before photos. It was just all original 1998. It was a little tired.
Repairs:
Tiled the entire structure with 17" neutral tile/dark grout (Never mess with it again) $5,100
Painted the entire inside with a modern neutral washable $1000
Installed master shower enclosure to ward off water damage $187
Tore out tree that was compromising wall, fixed leak, and trimmed up landscaping $325
Replaced the kitchen appliances (Stove, Micro, Dishwasher)$1,200
Toilet Seats $30
Replaced some landscape lights $45
Painted exterior trim $300
Professional cleaning $200
I have around 15 hours in it myself.
Quote:
Originally Posted by frankv11
X2 on the small potatoes. A few more of those will make for a good 55th bday.
Todd
How is the market on trustee sales in Vegas? Is there any wiggle room there or is every one doing it?
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The plan is 5 minimum within 3 years. Our notice of defaults have been picking up but our trustee sales are still week due to a dry spell, short sales, and loan mods. We have approx. 70,000 vacant properties in the valley and who knows how many are not makign their payments due to a senate bill that makes it difficult to foreclose. We are expecting another waive of bank foreclosures starting next spring as the banks are figuring things out and performing some judicial foreclosures. That will also pick up the short sale inventory as we have under 1,000 active short sales with 60% of our home owners in a negative equity position. Nevada is a non judicial state.
Guys are flipping properties for good profits as our inventory has been low for 6 months. Currently we have 4,700 active units in the ENTIRE valley and we are closing around 3,000 a month. Buyers are paying over market value in many cases due to the lack of quality inventory. This has led to an 18% price increase year to date. I really think the market has been undervalued due to the collapse of the market. Many feel we have a double dip coming and I can't disagree, I just don't think it will be substantial enough to not buy now at 3.75% interest.