Leave me your thoughts, comments, questions below! Free Land Due Diligence Checklist: RehabValuator.com/land 4 Duplexes Real Costs Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE--y7XbGWNz6w.html The Software Used In This Video is called Rehab Valuator. It does everything from deal analysis to lender presentations to full project management and tracking! Get 2 Week Test Drive Here: RehabValuator.com/trial
Congratulations on your wedding anniversary. May the journey ahead be filled with love, lots of money, good health and beautifully-raised children, grand-children and great-grand kids. Thank you for all you do!
@ 43:06 I think you did the right thing by spending all the extra money on the balcony. If you had cut corners and say there was a party and a lot of people are on the balcony and it collapsed, you would be legally liable big time for cutting those corners. Also had you used wood or other materials you would have to replace those decks over time as they rot or get worn.. the cement and metal will last a whole lot longer so its basically doing it right the first time and not having to do it over again and costing a lot more down the road is actually cheaper in the long run even if its expensive up front.
@@legacyrydeshare3478 lots of stuff in the pipeline! Are you on our email list? I host private developer masterminds occasionally and we walk current projects.
@@RehabValuator Yes indeed! I used your software to get a higher appraisal amount too. Sent the appraiser comps from your software and they raised the appraisal amount 💪🏾
Hey, Im a New Real Estate Developer here as well.. I'd love to see a video on your 16 unit across the street. Cost & returns broken down.. I just finish 4 residential code tri plexs, 12 units in my area & my next project that I already have land for is 24 units commercial. Id love to see how you did your 16 units so I can learn . Thank you
@@RehabValuator $200k per building, it’s not to good to be true 😂 it’s the type of construction I am using that’s saving me so much very popular in the south and the area is not expensive for labor. I sourced my own materials and the town does not have crazy permitting processes or costs, also the rental market is very strong but the most I could rent these units for is $1250 a month unless I market to the influx of people moving from out of state.
@@riumudamc4686$200k per building which has 4 units in it, please research post framing construction and how affordable and flexible it is. Also it’s because of the area I’m doing it in, to do this in my old city of Philadelphia it was going to cost over $700k to do 1 building
Great video as always . So if I watched it correctly did it cost you 164k to build and what is the arv? Are you self financing or using new construction loans? Are you getting 3-4 quotes on each trade or already have ppl in place from past projects ?
Excellent content. Do you have a video analyzing the cashflow for this project? I'm working on a possible triplex but numbers aren't looking so good so far. Also, how did you address parking?
It cashflows clean about $600 per door. What kind of cash on cash return are you seeing in your analysis? These days if I am hitting anything north of 6-7% during first year, it's good enough. Cost of construction and cost of $ are still high but over the long run these projects are awesome wealth builders
@@RehabValuator Right now I can't even get it to pencil. Total cost of $825K (hard and soft plus land). Lot is 50x100. Midblock. 3 units, 2/2.5, 1100sf. Rents at 1,800 ea (San Antonio). What are your units renting for in Richmond?
@@ramgonzales8079 run it through Rehab Valuator (follow the training in my other videos). You can even use the free version for the analysis. Curious what your cash required and cash on cash will be. Your rents are probably a little low. The 1100sq ft units in this building rent between $2100 and $2400
$6/sq ft for framing labor sounds like a pipe dream to me. The quotes I'm getting in San Diego are $17-22/sq ft! Thanks for transparently sharing your process as always.
@@RehabValuator Some of it is. Most won't even entertain the conversation because I am providing lumber myself. They markup the materials by double on top of that crazy labor rate.
@@RehabValuator I've been gone (TX + AZ), I just got back to build these 4 duplexes on this property I've owned for 5 years ;) Too bad I'm a surfer addicted to waves
Hello Danil, Thank you for this great content. You explained in a prior video that you used to work in finance pre 2008. Did you earn your general contractors license after you left corporate....how did you get your foot in the door doing rehabs and new construction? Are you self taught? Thank you Danil
@@RehabValuatorHow did you learn the skills for construction rehab? Did you teach yourself? Did you have a mentor? Did you earn your contractor license to dive into residential rehab? Thankyou!
@@tw2800 I learned by doing. Started with small rehabs, asked a lot of questions, learned, scaled. Don't be afraid to ask questions even if you may look dumb. I am still asking questions all the time and learning!
@@RehabValuator unfortunately in my experience they will leave them closed all the time for privacy, which is unfortunate because of the planning and cost that goes into trying to provide ample natural light
@@RehabValuator Malcolm never hurts to ask, but might hurt when he answers, he is a very busy man, as Daniil suggests read all his articles and watch all his videos--a treasure trove!
Are you still looking for land/lots in Richmond? I may have some you would be interested in. If so how can I contact you? Andre Bell Associate Broker ICON Realty
