All Forum Posts by: Craig Parsons

I suggest running the numbers through the BP Rental  Property calculator.

I'm just guessing here but I think at that price after expenses this will not cash flow at the listed price.    My rule of thumb when analyzing rentals is expenses will be 50% of revenue  and that is before any mortgage.  This is just my rule  but in depth analysis on the BP Calculator will dial it in more.

@Alyssa K.

If you get the clear coat off muriatic acid wash should suffice (check with mortar company)

Usually what happens with these things is 90% easily comes off but the last 10% is a pain.

You could try Jasco paint remover but that is a bit messy especially for expectant mothers. That's why I think scraping is preferable. You could also rent a floor sander for the hard spots with 36 grit paper should make short work if it as well

@Alyssa K.

Well that stinks. Could you possibly clean it off with razor style floor scrapers? Once you get the clear off your world of options rises.

@Keely Aldinger

One other thing there is also primer stucco guys use to get stucco to adhere over painted surfaces. I'm not sure what it's called but call a stucco supply store I'm sure they could help.

@Alyssa K.

There is a product called redgard

https://www.custombuildingproducts.com/products/surface-preparation/waterproofing-membranes-underlayments/redgard.aspx#

This is used to seal walls before applying tile. It has a very good adhesion as well. Possibly this could be used to help with adhesion.

If the floor is only stained I don't see why a good etching with acid wouldn't open the concrete pools again as well for the mortar to stick.

If the floors have a clear coat no matter what you put on top its only going to bond as strong as the clear coat bonds to concrete so it may need to be removed.

You can test clear coat adhesion by scoring an X in the floor then placing gorilla tape or similar over the X and see if anything pulls up.

Update.

So after talking to the city it seems the storage unit idea is quite all right with them.  They also said I could add more residential to the lower floor if I wanted.  So that leaves me 3 options  Storage, retail or STR.  the Retail option is the lowest on the renovation budget and the STR would obviously be highest.   Income form storage seems like would max out at around 1k per month.  The commercial portion of the building has been vacant for some time and as mentioned earlier parking is an issue  so I do not think retail is all that good of an option.  Building STR rental units could bring in as much as $3k per month per unit  with full occupancy.  I think that the main recreation season is only about 6 months so I would like to figure 50% occupancy to be safe which means $30000 per month on average for STR . If I added two Long term rentals they would  bring in about $2k per month for both combined.  

I honestly do not have firm numbers  for building out the downstairs for rental but my estimate based on experience would be around 75-100k  depending how much work I did myself.  

I would be interested to hear other peoples thoughts on what to do as well.

@Sharon Wu

Call the city of San Jose building department tell them what you are doing and they will tell you if you need a permit or not. Im guessing since its California the answer will be yes.  

@Ed Brancheau

There is a simple solution to this DO NOT pay your GC unless he provides you lien releases from his sub contractors. I deal with this all the time it is normal business in California.  If your GC gets upset find a new one.

@Colleen F. Funny you should say Behr is just too thin I feel the same way about Sherwin-williams. It is possible that the paints on the west coast are different than the east coast. Idk. But for everyone if you find something you like stick with it.

@Peter Morgan quality usually has nothing to do with the brand. Every brand has good and bad paints. If you are doing the painting yourself I recommend not using "contractor grade" as they are meant to be sprayed and mainly for production work on cheap track houses. As everybody else says good quality paint is really cheaper in the long run.

So

Benjamin Moore use Aura or Ben.

Sherwin Williams Emerald

Behr premium plus ultra

Also good tools will help a bunch. Personally I like the microfiber rollers or lambskin. All others pretty much make a mess. For smooth walls or a knockdown texture a 1/2 or 9/16 inch nap will work well.

You can probably get 20% off Behr pretty easily if you know anybody who has a pro rewards account. PM me if you need help.