I bought an abandoned surplus store (With some apartments!)
Published: 2019-12-21
Status:
Available
|
Analyzed
Published: 2019-12-21
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker initially thought a 4,000 sq ft building purchased for $15,000 with $45,000 rehab money would be an easy profit, but the closing process was lengthy, and the property was found to be destroyed upon entry.
"we figured this would be a slam-dunk. It took us four months to close on it and by the time we got in here they had destroyed it."
Pending
The speaker has a property where they have invested $27,500, and it is still not habitable.
"I've got one right now we're sitting on i've got 27 5 in and it's still not occupiable yet food can't be habited"
Pending
The speaker estimates that a particular property investment will pay for itself in 10 to 15 years.
"it's like you know in 10 or 15 years it will eventually pay itself off and we'll be okay"
Pending
The speaker has lost $25,000 on a house flip, and this amount is considered unrecoverable.
"that twenty five thousand is unrecoverable"
Pending
After renovations, the speaker anticipates a net profit of approximately $1,500 per month from a property that will have over $100,000 invested in it.
"when this is all done I think we'll make net maybe fifteen hundred bucks a month off of it and we'll probably have over a hundred thousand dollars in it"
Pending
The speaker's garage has been repeatedly secured but broken into multiple times, allegedly by individuals using drugs.
"we've secured this garage here a dozen times and then people with Iraq and spoonie's keep breaking in"
Pending
A specific window on the property has been boarded up about a dozen times, but entry continues to be gained through it.
"I have plywood it over probably dozen times unsuccessfully"
Pending
A structural engineer advised against purchasing a warehouse because its roof was caving in.
"he said there's no way on the face of the planet you should ever buy this the roof was caving in"
Pending
The speaker believes this real estate property will eventually turn a profit and be refinanced, though it will take a very long time.
"eventually we'll be able to go through and fix it up and I'll get decent bit of money off of it and it won't be profitable for a long long long long long long long time but someday it will turn a profit we'll cash out refinance and everything will be well with the world"
Pending
This specific real estate investment is expected to pay itself off in 10 to 15 years.
"so it's like you know in 10 or 15 years it will eventually pay itself off and we'll be okay"
Pending
A previous real estate flipping attempt resulted in an unrecoverable loss of $25,000.
"that twenty-five thousand is unrecoverable"
Pending
Financial commitments have been secured to fund a mural artwork on the side of the building.
"and I've actually gotten the fundraising or I've gotten the financial commitments to go in and pay for the whole thing thing"
Pending
A warehouse inspected by a structural engineer was deemed unsafe due to a caving roof.
"the roof was caving in it's empty I promise"
Pending