All Forum Posts by: Account Closed

Doug,

Thanks for the feedback.... I went through the various scenarios/costs and what not. So, I fully understand your points... I'm more the type of person that needs affirmation (good or bad), just thought it be worth throwing out to people that have either thought of this or physically experienced it.

Once again.

Thanks

Alan

Hi BiggerPockets Friends,

From going down so many avenues on how/when to retire.... Due to work finally catching up with me, one of my thoughts I've been throwing around in my head is the following:

The house I am currently living in use to be a two (2) family dwelling. My parents converted the house into a single family (living downstairs, bedrooms upstairs).

The house currently has 2 zones of heat, floor 1 = zone 1, floor 2 = zone 2.

If my calculations are right... My attic has the potential to become a single bedroom apartment (kitchen/living on 1 side, bathroom central in attic, bedroom/living on the other side).

The "Total" renovation... as I see it would be the following.

Floor #1 - Bathroom is currently 1/2 bath. Plumbing from the "old" washing machine hook-up could become shower stall (tub is not an option). Floor #1 - Complete.

Floor #2 - Bedroom above 1st floor kitchen becomes 2nd floor kitchen (the way it use to be). Floor #2 - Complete.

Floor #3 - The hardest: 3rd Zone of heat added, ALL appropriate plumbing / electrical /gas hook-up. Window on either side of attic would have to become doorway... with flight of stairs down either side of house to meet fire code.

I see myself occupying the first floor.

The total breakdown by floor would be as follows:

Floor #1 - 4 rooms, kitchen, full bath (Total = 6).

Floor #2 - 3 rooms, kitchen, laundry, full bath (Total = 6).

Floor #3 - 1 room, kitchen, full bath (Total = 3)

So, My question: Do the projects justify the rental?

Hi Forum,

I think part of my problem with the idea behind my uninsulated hunter's cabin... is the idea of having it not rent out in order to meet its expenses.

So here's my question / scenario:

Is it bad practice to try and get it occupied before it's available? Do I run into issues if I / myself can't get the dwelling ready for the listed date? Just as an example: If I post "Apartment /Vacation Rental - tentatively available July 2018". Do I open up a can of worms / headache for myself?

Thanks in advance.

A follow-up from both my thoughts and reading other suggestions... From being such a small footprint... I was actually contemplating the idea of removing the electric baseboard heating and only rely on a wood stove for heating. Would reduce the risk of spiked electrical on the property.

Hi Forum,

Have what I think is a unique investment idea / property, been trying to evaluate all scenarios, as not to get myself into something I'll regret. Anyways, here's the nuts & bolts... best I can give for now.

The property is up in the Lakes area of NH, Just under 1 acre.. I believe listing stated .98 acre. The dwelling is a 256 sf Hunters Cabin, appears to have electric baseboard heat, water (well), loft sleeping area, hookup for a wood stove.

As caption states "Uninsulated", so i see a lot of interior and exterior work required.

The property was being listed at $39,900, which is probably more the "Land".

I'm located in Massachusetts, NOT a far drive to the property.

From other members experience.... Was wondering what people had for a view on this as a possible Vacation rental (Maybe hunters, snowmobilers, anyone that wants to get away from it all).

Thanks for reading.... Look forward to ANY feedback

Survey Completed