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If you decide to write a contract on this property, include in the special provisions area that you want a structural engineer to inspect the property.

Any insights would be helpful!

Do not, I repeat DO NOT, get a foundation company to inspect the property because they are in the business of selling piers and will always recommend foundation work. If 10 foundation companies inspect the property you will get recommendations for anywhere from 10 to 40 piers. If they know you are not local, they will probably lean more towareds the 40 piers.

The foundation problems happen in the DFW area when the soil is not kept at a constant moisture content. When it get to 100+ in the Texas summer, it is necessary to water your foundation every day to keep the foundation from cracking. If the house does not have a working automatic sprinkler system which can be set to water automatically, you will need to either install one or at the very lease have soaker hoses put around the perimeter of the house and set up with an automatic timer. Most tenants will turn off the automatic timer to avoid the very high water bills in Arlington.

This house probably has foundation problems. Nike Tracksuits Images

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I assume this property is in Arlington? That is a pretty good area for rentals.

So, since I live abroad, I thought I would run some numbers on a run down place in my hometown. I hope everyone can pull back the curtains on this property. I feel like I'm barking up the wrong tree because this definitely needs a lot of repairs. But, the gap in cost and ARV seems attractive.3 Bedroom 2 Bath1.

2. Determine Cash Flow ( Based on area average rent and 50% rule ).($1300 The normal rent in the area / 2 ) $500 Mortgage = Appx.$150 of income.

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A rudimentary first analysis of a rental home in DFW

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1. All homes in Arlington Texas either have or will have foundation problems. Foundation problems are very expensive to fix. Figure $500 per pier Nike Sweatshirts For Kids

assuming double shaft pier. The foundation work alone can cost you $10,000.

Keep in mind two things

$1,800/($14,000 + $7,500)= 8% of the down payment and initial repairsrecovered each yearly. (CoC)

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My offer: (ARV$114,000 70%Rule ) $10,000(Repairs)=Appx. $70,000.

ConclusionIf I used the rules correctly,I think I might have a ballpark outlook on this property as a single family rental. I can't use the BP calculator anymore and I'm not ready to go pro, so this is what I have for the moment.

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been said don't rely on rules of thumb or information from zillow or trulia. Get the real numbers because costs are often higher down herein TX because of our astronomical insurance and taxes. Zillow and trulia are based off ofalgorithms and not real data.

You are living abroad? How did you get the estimate for repair costs? I would have 3 general contractors do a walk through to Nike Windrunner Black get a ball park estimate.

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If I included the above not assumed commissions and fee, I feel like the deal might be fruitless. :( sad face.


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