Would you rent this $350 apartment?
Published: 2020-03-07
Status:
Available
|
Analyzed
Published: 2020-03-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker anticipates renting out a property for $600 per month after an assessment.
"this one's gonna be about 600 like I said I actually haven't walked through either one of these yet so I'm actually here to take pictures and do an assessment"
Pending
The speaker has 40-50 interested renters for a property at $600/month.
"I've probably got 40 or 50 people they want to rent this place at 600 bucks a month"
Pending
A one-bedroom apartment is being rented for $350/month, while a two or three-bedroom is being rented for $600/month.
"so here's my one-bedroom apartment for 350 a month and then mine here two or three bedrooms depending on how you want to count it or whatever for 600 bucks a month"
Pending
A mentorship program will start at $49/month and increase with demand, aiming for 100 participants.
"it starts off at $49 a month and then kind of increases as more demand comes out and I get closer to the hundred"
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Estimated cleaning and repainting costs for a property are between $500 and $750.
"I'm seeing at least 500 maybe 750 and cleaning and repainting"
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Floor repair costs are estimated at $1.50 per square foot, totaling $750 for a 600 sq ft space. Combined with painting ($750), the total repair cost is projected to be $1500.
"I figure probably is gonna be a buck fifty per square foot to refix the 3d the floors between carpet padding and installation so that's like 750 for the floor 750 for paintings that were up to 1500"
Pending
The speaker purchased 50 windows, including stained glass, for under $30 each from Facebook Marketplace.
"we got one win one window over there but I bought a crapload of Windows off Facebook marketplace including stained glass I've got I bought 50 sub windows for a price so low I'm afraid of telling you guys but it came down to less than $30 a window"
Pending
A window replacement is estimated to cost $200.
"that window that'll be I'm guessing I can get it replaced for 200 bucks"
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Flooring costs are estimated at $750, with a humorous aside about potential mouse companions.
"um you know 750 for flooring that's like 25 bucks depending on if I want to make friends with a mouse we could sing songs together and generally have like a Disney type video"
Pending
The speaker's strategy is to invest in high-quality carpet padding, anticipating that tenants will wear out the carpet itself but the padding will remain durable, extending its lifespan.
"we redid the flooring in here I don't know how many comments I had and they said I can't believe you're leaving the floor now we tore the floor up we put all-new padding in it and my standard operating procedure with this is we put really good padding underneath the floor the carpet and then I get generally mid grade low grade carpet because the padding will last forever if I get good stuff the carpet won't"
Pending
Wall and painting costs are estimated at $750, with an additional $250 for unforeseen expenses.
"and then another 750 for the walls and painting and then probably another 250 and other crap that we're guaranteed to miss"
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A nearby house sold for $150,000, and another for approximately $125,000.
"this house just sold for 150 and then drive 125 isch my own another one down the road there"
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The estimated renovation cost for a 600 sq ft property is $1.50 per square foot for floors (carpet, padding, installation) totaling $750, and an additional $750 for painting, bringing the total to $1500.
"I figure probably is gonna be a buck fifty per square foot to refix the 3d the floors between carpet padding and installation so that's like 750 for the floor 750 for paintings that were up to 1500"
Pending
Houses in the described neighborhood are selling for approximately $150,000, with another one down the road selling for around $125,000.
"this is a pretty decent neighborhood that house just sold for 150 and then drive 125 isch my own another one down the road there"
Pending
A smaller rental unit in the same neighborhood is priced at $899 per month.
"neighbor right over here has a smaller unit for $8.99"
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The speaker's one-bedroom apartment is rented for $350 per month.
"here's my one-bedroom apartment for 350 a month"
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The speaker's two or three-bedroom apartment is rented for $600 per month.
"mine here two or three bedrooms depending on how you want to count it or whatever for 600 bucks a month"
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There is high demand for the $600/month rental, with 40-50 interested parties.
"I've probably got 40 or 50 people they want to rent this place at 600 bucks a month"
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A specific rental property is expected to be rented for $600 per month.
"this one's gonna be about 600"
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A nearby house sold for $150,000, and another is estimated to sell for around $125,000.
"house just sold for 150 and then drive 125 isch my own another one down the road there"
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The speaker plans to continue producing real estate content given their substantial portfolio of 140 rental properties.
"I've got 140 rentals."
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The estimated cost to fix floors (carpet, padding, installation) for a 600 sq ft property is $1.50 per square foot, totaling $750.
"figure probably is gonna be a buck fifty per square foot to refix the 3d the floors between carpet padding and installation so that's like 750 for the floor"
Pending
The estimated cost for painting a property is $750, bringing the total estimated renovation cost to $1500.
"750 for paintings that were up to 1500"
Pending
An additional $250 is budgeted for unforeseen repair costs in a property renovation.
"probably another 250 and other crap that we're guaranteed to miss"
Pending
A single window replacement is estimated to cost $200.
"I can get it replaced for 200 bucks"
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The speaker purchased 50 windows for less than $30 each.
"less than $30 a window"
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The speaker identifies a market need for affordable single-family homes in their area, having recently purchased one for $20,000.
"I bought this place for twenty thousand dollars and my area needs these kinds of cheap little houses"
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The speaker acquired two properties: one with a $15,000 down payment, and another for $15,000.
"I bought for $15,000 down and this other one I bought for 15,000 for the specific house"
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The speaker purchased a large apartment with a $15,000 down payment.
"I bought the big apartment I bought for $15,000 down"
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The speaker highlights that a property they are showing is a detached single-family home.
"this is an actual free-standing house"
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The speaker contrasts their $300-$350 rentals with a $300,000-$350,000 house in the same neighborhood, implying a valuable location.
"so we're gonna go on to the next one so that's what $300 is like and I get all these Yahoo's and I say yeah who's because I don't I don't I don't know I say this is a nice neighborhood because that's a 350 $300,000 house"
Pending
The speaker's apartment complex is valued at $300, with a comparable unit priced at $350.
"my apartment complex is here for 300 that's 350 bucks aside"
Pending
A mentorship program is being launched, limited to 100 people, starting at $49 per month.
"yes I've come up with the idea of doing a direct chat slash mentorship opportunity and we're auctioning off my time essentially I'm limiting it to 100 people it starts off at $49 a month"
Pending
Renovation work involved replacing flooring with linoleum, keeping some carpet, and addressing wall patches, with criticism of incomplete repairs.
"they tore up the floor here they put in linoleum looks like they kept this carpet in here there's still a patch on the wall doesn't make sense because there is a way to fix these rather than just leave any pieces of crap tape"
Pending
The bathroom underwent significant renovation, including replacing the floor and installing a new shower to replace an older, musty unit.
"I know they had to redo practically the entire bathroom it might not look like it they had to tear up all the floor redo the floor they had to tear the shower out and put a brand new one in if you remember it was the musty and Sun shower installation"
Pending
The speaker anticipates backlash from 'Yahoos' regarding their $300-$350 rentals, especially when contrasted with $300,000-$350,000 houses in the same neighborhood.
"so that's what $300 is like and I get all these Yahoo's and I say yeah who's because I don't I don't I don't know I say this is a nice neighborhood because that's a 350 $300,000 house"
Pending
Significant damage was discovered behind furniture, requiring redoing floors and paneling.
"they still have to paint it they when they move the couch out they found that the couch was actually holding up the paneling and it collapsed same deal with this here there was just so much crap covering everything they had to go in and redo a lot of the floors in here"
Pending
The speaker prioritizes high-quality carpet padding over the carpet itself, as tenants tend to damage the carpet but not the padding.
"we redid the flooring in here I don't know how many comments I had and they said I can't believe you're leaving the floor now we tore the floor up we put all-new padding in it and my standard operating procedure with this is we put really good padding underneath the floor the carpet and then I get generally mid grade low grade carpet because the padding will last forever if I get good stuff the carpet won't my tenants tend to tear up the carpet regardless but they won't tear up the padding"
Pending
Mold issues necessitated redoing a shower area and replacing linoleum flooring.
"so we have mold problems and we had to go and redo this put a new cord around in and stuff it doesn't look too bad and then we have course had to redo the linoleum floor"
Pending
Estimated costs for cleaning and repainting a property are between $500 and $750.
"I'm seeing at least 500 maybe 750 and cleaning and repainting"
Pending
A damaged section of flooring requires replacement.
"we will come up this no I don't have to replace that too if you look down there that's damaged"
Pending
Cabinets require repainting, but the speaker is hesitant to seal them due to potential rodent inhabitants.
"the cabinet's need repainted I will probably not do anything with this cabinet because we might meet a friendly Mouse or a friendly rat that needs to live down there"
Pending
Minor drywall damage is present and considered an easy repair.
"there's a little bit of drywall damage but snot tube that's an easy fix right there"
Pending
The bathroom needs inspection to determine if issues are mildew or water infiltration.
"we'll have to go through the bathroom there and see if that's just mildew or if there's water infiltrates"
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A ceiling issue is described, possibly related to an accident or explosion, and compared to another affected ceiling.
"this thing in here is not near as bad I think they had an explosion they couldn't make it to the bathroom and just ceilings this one sucks too"
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Stains on the ceiling are humorously referred to as 'collard ation' rather than discoloration.
"we got these wonderful wisps on the ceiling of Collard Asian yes I'm not calling it discoloration just calling it Collard ation"
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The neighborhood is considered desirable due to the presence of $300,000-$350,000 houses.
"this is a nice neighborhood because that's a 350 $300,000 house"
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The street features historical homes dating back 150-200 years.
"this street here that goes back it's all 200 year old hundred fifty year old historical homes"
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A nearby house sold for $150,000, with another estimated to sell for around $125,000.
"this house just sold for 150 and then drive 125 isch my own another one down the road there"
Pending