All Forum Posts by: Matthew W.

Corte Madera, right in your backyard.  I will submit drawing ups and ask them their thoughts.   This is my first journey on a remodel like this. 

This is not out of the question.  I might have to watch hours of youtube videos and reading, but it might be worth it, plus t comes with pride of doing the work yourself. 

Ah I should mention, this is Marin County Bay Area, so prices reflect that.  $80k is a "moderate" kitchen.  2 designers told me $100K and i balked.  But yeah, prices are insane here.   I was fortunate enought to get my foot in the door, but admittedly might have gotten in over my head on this baby. 

Resale in mind 5-6 years out realistically.

We have a limited budget on our primary new "fixer upper" home. The house needs work in many areas from the top down. But I will focus on the main "want to dos":

1) Interior first? the floors and kitchen is currently a 6/10, as to say it is livable and functional. But OMG is it lacking in many areas. The advantage of doing this repair first is a better kitchen to live in day to day and of course future resale value. Cost: $80K.

2) Exterior first? Bedroom office situation: 2/10. The home has 2 bedrooms (1 is upstairs), but lacks an office. We can do an addition which adds 90 sq feet. This would greatly increase space and value as well, but at expense of the kitchen and of course more upfront cost. This is likely $120K. (Also included here is a fix to the exterior I might as well do simultaneously that also fixes a bizarre issue in the master bath). The advantage of this repair first is well, a formal office, more space, and a better master bath.

IN your opinions, what adds more value or makes the most sense?  I paid $600 sq foot for the house, but homes in teh area easily fetch $1000+ in some cases.  So maybe its possible to recoup all the cost back on the addition.   Need opinions on which adds more value and makes more sense.

I am not knocking anyone, but the answers in here for "if you could live anywhere" (even with the criteria defined) are funny and show me 1) how different we are as people with preferences and 2) make me wonder how often people actually get away to other areas.  I would HATE to live in some of these areas.  Like truly, they are TERRIBLE on so many factors.

Really?  <Place X?>  If you could live ANYWHERE?!  LOL.  You should get out more.  ;-)

As a software consultant who has lived and worked all over the united states for almost 2 decades, AND as an "overlander" who has traveled to many tiny towns or places where no towns exist at all, I can state with certainty the place to live is.....

......no one can answer this for you.  IN fact, my OWN favorite place changed the past 5 years based on a shift in priorities.  Good luck. 

This country is truly amazing.

And I SF Bay Area....  Prior to COVID, we had multiple offers and $200K over asking was standard practice.  Properties sold in a week.  Only months later, this has stopped.  Properties listed now expect asking, and I am starting to see price drops for the first time as of a week ago.

A Seller just accepted my offer on a 1.2 mill property on Saturday $80K UNDER original asking after it sat for 18 days, and this is in a TOP area.  For me its going to be a primary home, and while I could have waited until more panic or collapse happened, I decided to take advantage now while fear is high.  (The old greedy while others are fearful adage).  

So there is some real "on the ground" action for you for the top area in the US, with the best job market - mostly tech whom have not been impacted nearly as much for whats it worth.   And a poster from NYC said similar.  I am not an investor, and in fact come in here to learn, but thought I would add my experience, as I have been immersed in a search for 4+ months.  Prices dropping is not an opinion, its a fact folks. 

Ryan, This same thing happened to me.  Monday the investor in my SIMPLE cash out refi, where I locked in a stellar rate and was to close on Tuesday totally pulled out.  But in my case it was NOT a blessing in disguise, as that huge cash influx would have been amazing at a time with the most opportunity.  All the opportunity gone.   And I spend 1.5 months on getting it all wrapped up.  I was and still am livid.   I now must start from scratch. 

I am interested in buying a parcel of land to build a tiny house for retirement, because it is in a GREAT area.   BUT the lot has "no water" (which is weird because it is surrounded by homes) and needs a septic tank.   For anybody that has done this, was it a major hassle to go through all the permitting? 

I have a primary and a rental. I began a HELOC loan process to use funds to help pay for a new rental, but lost the property I was intending to buy with it, but it raises a question for me: If I continue to get the HELOC and it resides there ($150K unused), I assume this will greatly impact my ability to get more traditional financing in the future should I go that route.

I am trying to understand how you folks are able to use existing home equity to buy more properties that don't show income NOW, thereby pushing your income/debt ratio higher than banks allow. IN short, how are you able to use equity to do this?   When i read the posts in here they make it sound easy, but my banks say no.   They wont count "future income" as it doesn't exist yet. 

Just a normal homeowner and investor trying to learns and generate passive income, I am not at all involved in the RE business.