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Port St. Lucie - Sebastian - Vero Beach St. Lucie, Martin, and Indian River counties (Treasure Coast)
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Old 12-04-2013, 06:35 PM
 
Location: Port St. Lucie, Florida
4,507 posts, read 9,201,048 times
Reputation: 1999

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Quote:
Originally Posted by quattrohead View Post
I did my own inspection and thought it worth the risk. I did not see anything I cannot handle.
However, the paperwork has come through with a clean termite inspection report, so that adds to my piece of mind.

Yes, out of state is going to present a whole new set of challenges, but I am ready for them.
Buying 2 and 3 familys up here in MA is tough work, they are all much older, always have lead paint issues, electrical, plumbing, heating etc always need work. Plaster is falling off, windows falling out, rot, damp and mice !!!!
Plus I HATE winter, so a few weeks down south on a relatively modern project is just what I need lol

I will document my progress if you like.
\\\


are you planning on rebuilding these places completely???
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Old 12-05-2013, 06:31 AM
 
Location: Treasure/Space coast.
459 posts, read 619,958 times
Reputation: 460
No, well not this one anyway.
It needs new kitchen cabinets and top, around $2500, might as well put in new appliances for $2000, bath needs new taps and flooring, say $300.
Various light fittings are missing and I like to put new switches and sockets in anyway, they do ware out and look like crap, $250. New door between the kitchen and garage, $150.
Both bedrooms both need new carpets, $400 and the whole place will be painted $250 and I guess 1 day and 6 bud light limes !!!!

Then, do I sell it or rent it out ? This is a decision I have not made yet. I was told by the realtor I worked with it would sell for $80k or rent for $800/m
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Old 12-06-2013, 12:54 PM
 
Location: Port St. Lucie, Florida
4,507 posts, read 9,201,048 times
Reputation: 1999
not seeing it or knowing anything about it --- you cant put out a number on what it might be worth - especially in this market.
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Old 12-10-2013, 08:54 AM
 
Location: Treasure/Space coast.
459 posts, read 619,958 times
Reputation: 460
Well I do believe I can because I have seen and evaluated the property along with the realtor I used on my visit.
These are her numbers, not mine.
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Old 12-10-2013, 11:36 AM
 
194 posts, read 427,915 times
Reputation: 148
Recommendation. Get other opinions. The rent is in the range but the home value is an ambitious number. A 2/1 under 900sf on the high side is going in the 60's and this market has slowed down considerably over the past three months. Do more research before deciding what to do going forward. Good Luck
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Old 01-13-2014, 03:06 PM
 
Location: Treasure/Space coast.
459 posts, read 619,958 times
Reputation: 460
Closing tomorrow, traveling down soon to get the keys and start working on it.
Can not wait.
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Old 01-13-2014, 06:57 PM
 
Location: New Jersey/Florida
5,818 posts, read 12,626,350 times
Reputation: 4414
Quote:
Originally Posted by quattrohead View Post
Closing tomorrow, traveling down soon to get the keys and start working on it.
Can not wait.
Goodluck Quattrohead, 800 rent should be doable for a 2 bedroom. I see you put numbers up for repair work. I always budgeted about 20 percent over because of unforseen repairs. Sometimes you start ripping things out and come to a oooppps. Could be plumbing, electrical, extra paint and so forth. It adds up when you first start repairing a home here. You find yourself buying the things that are in your other house. Ladder, buckets,tools, power equipment and so forth.
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Old 01-14-2014, 03:45 PM
 
6 posts, read 5,648 times
Reputation: 10
A small frame hours across the street closed just before Christmas. It was a 3/2 with both bathrooms redone for 84,000. I think your realtor's number is overly ambitious also. We laughed when we saw what she paid for it. The rent is a good number.
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Old 01-16-2014, 05:35 AM
 
3,977 posts, read 8,174,381 times
Reputation: 4073
Quote:
Originally Posted by JimT7406 View Post
Recommendation. Get other opinions. The rent is in the range but the home value is an ambitious number. A 2/1 under 900sf on the high side is going in the 60's and this market has slowed down considerably over the past three months. Do more research before deciding what to do going forward. Good Luck
House next to us is a 3/2 built in 2008 and it recently sold for 69,000 in May. A corp bought it. Replaced carpet with tile,painted inside, and are trying to rent it for $925 but so far have not seen I person come look at it.
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Old 01-16-2014, 08:25 AM
 
Location: New Jersey/Florida
5,818 posts, read 12,626,350 times
Reputation: 4414
Quote:
Originally Posted by Rabflmom View Post
House next to us is a 3/2 built in 2008 and it recently sold for 69,000 in May. A corp bought it. Replaced carpet with tile,painted inside, and are trying to rent it for $925 but so far have not seen I person come look at it.
It makes you wonder about the so called market is hot, hot, hot scenario that's tossed around. I'm reading about 3/2 houses for going for less than 90K and some are saying multiple bids are being placed on homes for more than the asking price. Wonder what it is? Most likely somewheres in the middle. As the old saying goes there's 3 sides to a story.
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