Cashflow:
Im just out the door on a VERY long day, but basically regarding finance - explain to me HOW they are achieving a valuation. It is NOT through any legitimate valuation service I am aware of.
ROLF????? Am I wrong here?
That is a grave concern to me.
I have reno'd maybe 12 separate apartments in the last 3-5 months. replacing floors, walls, kitchens AND bathrooms (not talking poggen pohl but 'good' home depot stuff) and on average and over all we are talking about $1500 a door. Now I do have very good and fast local workers, but the numbers are true.
Reverse the question. How do you know these properties werent in tip top condition?
Lets take Emma's exaggerated reno costs. I doubt any of these things need all that but say it was (running out of time, cant find the numbers) $15000.
You paid $4000 to 'join'
You paid $49,000 to 'buy'
All up $53,000.
Their cost is $14,000 (doubt they pay - after all they boats about 'discounts' that but take it at face value)
Their reno cost is $15,000
total $29,000.
Explain why you think you need to pay $24,000 MORE than they spent to sell it to you...
gotta go
Im just out the door on a VERY long day, but basically regarding finance - explain to me HOW they are achieving a valuation. It is NOT through any legitimate valuation service I am aware of.
ROLF????? Am I wrong here?
That is a grave concern to me.
I have reno'd maybe 12 separate apartments in the last 3-5 months. replacing floors, walls, kitchens AND bathrooms (not talking poggen pohl but 'good' home depot stuff) and on average and over all we are talking about $1500 a door. Now I do have very good and fast local workers, but the numbers are true.
Reverse the question. How do you know these properties werent in tip top condition?
Lets take Emma's exaggerated reno costs. I doubt any of these things need all that but say it was (running out of time, cant find the numbers) $15000.
You paid $4000 to 'join'
You paid $49,000 to 'buy'
All up $53,000.
Their cost is $14,000 (doubt they pay - after all they boats about 'discounts' that but take it at face value)
Their reno cost is $15,000
total $29,000.
Explain why you think you need to pay $24,000 MORE than they spent to sell it to you...
gotta go