All Forum Posts by: Jacob Edmond

I am interested in this as well. Our rental property was bought as our first primsry, but we only lived in it for about 15 months. I took the depreciation last year for the first year we rented, but am now second guessing whether I should continue? Can I stop now after I took it last year? I've pretty much decided we would have to move back in for another year if we wanted to sell it so we are planning to keep it as a rental.

 Thanks! Great advice. I will have to do some more research on that. I definitely hate false advertising, though I'm used to seeing peoplease claiming bedrooms that don't qualify. I definitely think the reno is in the cards now.

Welcome! Check out the podcasts for sure! They have really gotten me motivated and I have learned a lot from them all and learned some of the regulars Pros names and faces.

 Yeah everything in the house is ugly and dated currently. The same couple lived her for over 50 years. They house is in great shape though because of it. I think I know my answer, just wanted to see if others agreed it is a worthy investment. I think the kitchen and bathrooms will be where we make our money. Most of the other comps in the neighborhood that advertise as being 'updated' have original cabinets, just painted, with newer appliances, and painted wall paneling. We are replacing all of the paneling with drywall, 6" wood base throughout, 5" casing, and a complete kitchen reno. I work for cabinet and Millwork company to most of this stuff is cheap and easy as I can just pay material costs.

I know the general consensus in a SFR is the master bath should have a double vanity. But has anyone successfully kept the master with a single sink vanity? We are rehabbing our current residence, which is a 1965 buit brick ranch, 3/2. It is very dated but we are ripping out all of the faux wall paneling, doing all new trim throughout, and completely gutting the kitchen, among other things. Initially we felt we could just paint, and put in new countertops and sink in the bathrooms, but I think after we finish the kitchen and everything else, that the bathrooms will stick out like a sore thumb.

I really honestly like our master batj, it has a single vanity. About 48" wide, a large toilet, and then a tiled walkin shower. We couldn't fit a double vanity without completely gutting and expanding it. I don't think thay is necessarily out of the question down the road. But Im not sure it is necessary, especially at this price point.

If we redo it, there is a hall closet behind the shower that is about the same size as the shower that could be made into the shower, and then the existing shower space could be the water closer, and then the vanity can take the space from the toilet. All of this is over about a 5 ft high crawl space.

Thoughts?

When I bought my current house I was told I couldn't count any income from my rental property until it had been consistent for at least 2 years. I had to qualify for this house as a second home on my existing income.

 Thanks Terry, I will see if I can post an overall floor plan a little bit later so it makes more sense!

We are currently renovating a 1960s brick ranch we just moved into. We are working on opening up walls in the main areas to improve the layout. We are closing off the existing formal dining from the kitchen since it is too small for a modern dining room in our eyes. We to use one o the two living areas as a dining instead. We have gutted the whole kitchen, which had an eat in, and making the whole thing a bigger kitchen. We opened the wall between the two living areas as much as possible without moving the two main hvac returns. Now we are wanting to removed a 3 foot section of wall between the kitchen and the rear living area. It also turns out to be structural, so I'm going to have to put a header and column to support this across where we want to put an island. I'm thinking of just running a header across the whole 12 foot opening and centering 2 columns, 1 on each side of the island. We plan on framing in the original door into the rear living area as well now that we have opened up the wall.

Here is a plan view of the kitchen layout as we see it now.

 Any thoughts or ideas are appreciated.

So glad to see some local faces on here!

 That's what I mean. The lender wouldn't have gone this far if you didn't have the funds somewhere that they could see. They don't care if it leaves you cash strapped. They just need to know it's in your accounts. Not wanting to spend it is wise. But if you are under contract now and want to move forward it might be your only option.