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All Forum Posts by: Nathan M kiefer

Nathan M kiefer has started 11 posts and replied 341 times.

Post: Airbnb Listing Help Needed

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218

Ride it out your listing is great, your in the top 10%, they will come.

Post: good or bad deal?

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Patrick Goswitz:
Quote from @Nathan M kiefer:

Who would want to do this deal that has 100k, no one with a brain in there head.


 Hahaha he has his reasons. Not my problem haha. He wants the house badly and he wants to keep his monthly payments below $1,400 which I am able to do for him.

Well I guess that's one way to look at it, sounds like you are dealing with a millennial that is looking at payment and has a little cash.

good for you, you'll end up foreclosing on the deal after he can't pay but I guess you will had made some money but will probably need most of it to fix it back up.

seen this happen a few times, not for me but if you have the stomach for it....

Post: Help with project estimate

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Vasudev Kirs:

Thank you @Nathan M kiefer. We are going to reuse an existing door. Should there be insulation if the new drywalls are going to be interior walls? Please pardon my ignorance as I am getting my feet wet.


 If it's adjacent to a living room I would 

Post: Help with project estimate

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Vasudev Kirs:
Quote from @Nathan M kiefer:
Quote from @Vasudev Kirs:

Hello:

I got a quote for converting a 16x10 living room into a bedroom. It has 9 foot ceilings, some plaster of paris and need to adjust a vent. The handyman gave me a quote for $5000 and $300 for materials. I live in the vicinity of kansas city; does anyone know if this is a reasonable estimate?

Should I get a second opinion?

Thanks.

 Not a very clear scope? 

framing, electric, adding walls? Doors closet windows? 

not enough information to give you an accurate quote.

the only thing we can derive out of this post is $300 in materials and 5k labor something isn't right. No clue how it takes someone 5k in labor on $300 in materials but you didn't provide enough information 


 Sorry. Let me try to give additional information. 

Currently, living room and dining room is one large space (open layout). 

My intent is to convert half of this space into a bedroom by adding drywall on two sides with a door. 

This space already has windows and I have no intention of adding closets. Some electrical is involved to add light to bedroom and some work to add air register. I was quoted 5k.


 Labor seem ok ish. 

materials is no where close for a 16 foot wall x9 tall. Studs, plates etc are probably double. 

if they have the electric and moving the HVAC(duct) in the labor it's potentially not a bad number. I say from a quick look 1k on materials is probably closer by the time you figure, studs, plates, insulation ( should be insulated) drywall, mud materials trim, door, door stop, door knob and casing. 

Post: good or bad deal?

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218

Who would want to do this deal that has 100k, no one with a brain in there head.

Post: Help with project estimate

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Vasudev Kirs:

Hello:

I got a quote for converting a 16x10 living room into a bedroom. It has 9 foot ceilings, some plaster of paris and need to adjust a vent. The handyman gave me a quote for $5000 and $300 for materials. I live in the vicinity of kansas city; does anyone know if this is a reasonable estimate?

Should I get a second opinion?

Thanks.

 Not a very clear scope? 

framing, electric, adding walls? Doors closet windows? 

not enough information to give you an accurate quote.

the only thing we can derive out of this post is $300 in materials and 5k labor something isn't right. No clue how it takes someone 5k in labor on $300 in materials but you didn't provide enough information 

Post: Self Directed IRA vs HELOC

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Steve Tse:

Perfect Nathan, investment time frame is one good way of looking at it. Can you think of any other pros or cons going with either of the tools ?

Pretty much all that have been mentioned here between the two vehicles.

a lot of the other items come into play based on your own specific financial situation.

so for what you have provided that is all

Post: Self Directed IRA vs HELOC

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Steve Tse:

@Estevan Benavides Lets say that ROI on a syndication deal does outpace the HELOC rate, my question is what do you prefer to go with since HELOC vs SDIRA are two very different tools when it comes pulling capital from.

With HELOC, you borrow against your HELOC credit, pay the interest while you are in the syndication and eventually pay the borrowed amount back. All cashflow after that will go directly to your bank account.

When you make contributions from SDIRA on the other hand, you don't get to enjoy the cashflow and all profits right away since all proceeds go directly back into the IRA account and you end up paying taxes when you are ready to cash out.

My question is what method do most investors prefer to go with when investing in syndications ?

 


 our general rule is use heloc for something we can pay back in less than 2 years. SDIRA is retirement and fits into our 10-15 year. So for us if we can pay it back in 2 years or less, we will write off that interest and have it paid back in that period and look for the next deal. 

we find that if it doesnt pass our heloc test it wont pass  our SDIRA test...

Post: Spread on Cleaning Fees per turn

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Berry Starnes:

What is the average spread (difference between what you are charging your guests and paying your cleaner) for your turns? $25?  $50?

Can we not create a poll in here to make this more anonymous? 

we pass on at cost, keeps it easy to respond to guests when they say our cleaning is high. have even proved it to guests before- some people just like to see it and most i have done that with have become long time rebookers.

Make money on your house and pass along fees at cost to me thats the best way to go and has been fruitful for us

Post: 30-day notice went to Spam!!—what to do??

Nathan M kieferPosted
  • Rental Property Investor
  • south carolina and michigan
  • Posts 342
  • Votes 218
Quote from @Elaine Hester:

Our tenant text my husband today saying that he's vacating in a few days. He said he emailed us his 30-day notice to both of our personal emails two weeks ago, however neither of us received an email from him. My husband then asks him to forward the email, which he did. After seeing the exact date, I started digging through my spam folder and sure enough, there it was. I am assuming it ended up in spam as he used a different email than the one we had on file for him. At this point we are being set back two weeks as I can't get a painter and other needed contractors in there on such short notice. I'd just like to know the specifics on what California law says about this kind of situation, without having to hire an attorney as this is rather minor. Wondering if anyone has had a similar experience and how it played out!🤔


 I just lost money reading this thread.

get it leased up and move on.