All Forum Posts by: William Bannister

Hi Blake welcome to BP. Nice to meet you. I am from Oshkosh areas moved though currently in the Ohio river valley Indiana, KY border.

The most expensive rooms in a home to remodel are a kitchen and a bath thats where I might start if thats where the money is.
Beyond that here is some info written in
2008.
Siding Replacement (Fiber Cement) – average costs are $13,212 and the return on investment is 88.1%
Deck Addition (Wood) – average costs are $10,347 and the return on investment is 85.4%
Siding Replacement (Vinyl) – average costs are $9,910 and the return on investment is 83.2%
Minor Kitchen Remodel – average costs are $21,185 and the return on investment is 83%
Siding Replacement (Foam Backed Vinyl) – average costs are $12, 132 and the return on investment is 79.7%
Windows (Vinyl) – average costs are $10,448 and the return on investment is 79.3%
Windows (Wood) – average costs are $11,384 and the return on investment is 79.3%
Bathroom Remodel – average costs are $15,789 and the return on investment is 78.3%
Major Kitchen Remodel – average costs are $55,503 and the return on investment is 78.1%
Deck Addition (Composite) – average costs are $15,039 and the return on investment is 77.6%
Read more at Suite101: Home Improvements with Best Return on

Looks like a lotta emphasis on outdoor curb appeal!
New siding really makes a house pop. as well as new bushes in the front and a hundred bucks on flowers if your property is marketed between april and oct.

The book was Wealth and Poverty by george gilder.

I agree with Brian mow with a nice mulching 175 dollar mower and mulch em into yard and grass. Unless your blessed with some mighty oaks or hickory trees that throw off too many leaves.
You should be able to get a service to do it for 35 bucks a week if its a 1/4 acre lot. More then this is too much.
My thought is this 3 4x8 pieces sheets of green treat 3/4 plywood would build a storage unit a push lawnmower could be stored in with a gas can and a rake and a few items. Paint it white and angle the lid away from building down so water runs off of it. You could even add a few pieces of trim and a nice handle and hinges to open with locking mechanism for a pad lock. Total cost would be less then 100 dollars and take care of storage problem and not be large enough to be considered q a shed that requires permit. connect it to building by the garden hose and its will be very useful for storage. If I could draw my design it would be nice for all to see. If you take time and build it right it would last 12 to 15 years and look nice on the lot if you have a few bushes planted nearby to screen it. Sort of like screening in the pump house by a pool.

I think everyone has to live there own life. I think 30 units in a good location could provide a pretty good life style for a lot of people if no debt on them. I mean if you get 800 per apt and have 28 units x 800 per month thats at least a 11k a month cash flow after expenses if no debt service. I think most people can live on 130k a year income.
After a while money becomes a game after you conquer the initial getting comfortable phase. Definitely 100 units paid for is plenty to do 98% of things you want to do in life.
I always think I want to be doing something useful with my time on this planet so I rehab in older neighborhoods rather then build brand new. That helps sustain the environment while make me a really good living. Then I chase money because my wife has a charity helping indigent children in India and we both want to expand it.
So it might be to help other while I create lifestyle or it could be my desire to please my wife or maybe a combination of both.
This is my life. Imagine so many different equations to other peoples lives. If a person has 1000 units and makes 1.2 million a year and they have things they want to do like a big charity or has a dream of owning a 3 million dollar yacht. Too me it seems opulent but who am I to say what people should be aloud to dream. If the dream doesnt hurt anyone then go for it. I know this, building big boats creates jobs. I know chasing income keeps people busy. I think as long as we dont become obsessed with it its ok. For several years of my life I did let real estate obsess me and it caused my 1st divorce.
My life is more balanced now as age and mistakes create life lessons.
There is competition in the work world and certainly it can be a badge of honor to say you built a big business from the ground up. I work hard not to engage in that game myself. It takes your focus off mission statement. My mission statement was to provide safe affordable housing for the middle class.

Its ridiculous to think your going to get 1000 units over night. This hype at conventions is almost laughable. I guess yes its faster to get cash flow to buy more doors at once but there are a lot of things to take into account. Fast growth can sink a business too just so you know even if its profitable business. Inability to manage your acquisitions and stabilize what you have before you move to next deal can get you!
Also experience managing your acquisitions matter too. As trying to finance a 100 unit complex when you haven't managed a 12 unit apt building can be next to impossible. Its not completely impossible but highly improbable. You would be better served to grow along with your business at a steady sustained rate.
As your business grows so will you and that is a recipe for solid ground to build a big business.
The idea to buy a 4 unit then another 4 unit then buy an 8 unit and maybe a year later buy 2 more 8 units and a 12 unit. Then a year later get a 20 unit building then a year later a 50 unit building and in year 6 or 7 you have over 100 units. And some where along the line in year 10 you buy a 100 unit complex or do a few of those in year 9 to year 12. In 15 years you wake up with 500 units.
The bigger business usually takes time to build.
I know they talk about credit and 20% down all the time but experience does matter to a underwriter when your trying to take on a complex over 12 units. I do like the enthusiasm its what keeps you growing your business over the long haul.

News papers still print the divorce and obituaries for those chasing deals like that. They have a legals section in most papers. The principles are right there for you to see clear as day.
All you have to do then is match the name up on facebook or search engine or tracker or how ever you go by finding them. Most court records show address of plaintiff and defendant ect. The court house they have computers to look it up if you have case numbers but family stuff can be sealed it depends. An attorney could better answer this.
Yes the attorney client privilege is a hurdle in this matter.
Seems like there might be easier deals then the ones that involve bifurcation of a home via divorce. This sounds like deal in drama to me.

Troy your right its probably not worth it which is why I walked past the sale rack yesterday but my curiosity made me ask lol

A few glaring down sides. The 1st if rates go up and its not likely they can do that immediately but they will in a bit and when they do who knows how fast they will go up.
Go back To Ron Reagon years and study what happened there. Prime rate interest went from about 11% in 1979 to 21.5% in 1981.
They did this to slash inflation and it did work its an example what can happen if things begin to get crazy in the economy.
Right now interest is too low because at zero.. savers are getting killed and the bond market is about to explode and the stock market has been going crazy because of inflation. Inflation is a dangerous thing if it takes off.
Long story short is if you get a 3 year interest only what happens if you cant get out in 3 years and you wake up to see rates at 9% would it matter?
Also my other fear of interest only is if you dont stock pile cash for a refinance instead of new acquisition if rates rise you may not qualify for a refinance.
Im not all negative on the matter at 3% its pretty juicy if you can get it. Maybe a more prudent plan would to just pile up cash then refinance showing banker your fat cash balance at end of 3 years instead. I would make it easier to qualify getting into long term if you wind up stuck in these 3 properties longer then 3 years. Its like preparing a 2nd exit strategy if things go wrong.
3 years in Real Estate is a really short time line. Its better to look at real estate in a 5 to 10 year time period. If your just fix and flip maybe no problem. Just my take on the matter.
By the way, I and my buddies have over the years have called these exploding mortgages.

Has anyone ever mixed 2 different types of polyethylene together?
Im doing a house and have 4 large rooms to refinish hardwood floors and up to this point have always used the highest quality materials on the hardwood floors. I have always wondered if it would be worth saving money to mix product.
I have gotten away with this game for ages mixing paints. I would buy 5 dollar a gallon oops paint at Menards or Home Depo then get 5 cans and throw em all together so I could paint an entire building or several apts one color.
Today I saw 2 gallons of clear poly on sale for only 20 bucks per and the brand I use is like 33 dollars a gallon. The thought to mix suddenly popped in my head. Mix 2 gallons of Cabot name brand with 2 gallons of the similar but different name brand all into a 5 gallon jug so its the same product going down on all 4 floors.
Which brings next question has anyone used the Cabot name brand for covering wood floors . I have been up to this point using Mini Wax name brand poly.