All Forum Posts by: Sam W.

Jamaal Hunt

My concern with a 4 bedroom unit above a 1 bedroom unit would be that you might have a family of 6-8 living above a single man/woman or a young couple. Its a sure-fire recipe for conflict and complaints.

I agree with Brandon Turner - I'd investigate splitting the upstairs unit (if zoning allows) into two smaller units.

If it is in a university area, it might make a good student rental by connecting the two units and making it a 5-2 (again, if zoning will allow).

Daniel E

Welcome to BP! Looks like you've got your work cut out for you.

As a veteran of a few stinky rehabs, without a doubt I'm a huge fan of Zinnser's B-I-N shellac based sealer/primer to seal floors, walls and ceilings. It has worked very well for me and has solved some pretty bad odor problems for me. You apply it before you paint. Roll it on with a roller. I buy it in the 5 gal buckets (about $180 at HD).

For grease, I like "Greased Lightning". I get it at Family Dollar or Dollar General, but you can probably get it other places too. Works well for smaller areas. For big areas (floors, etc), I'd go with TSP. Harsher but works. I use it on greasy kitchen cabinets before repainting.

Probably lots of other tips and favorites by other BP'ers as well.

Hi Dan James...welcome.

Plenty of folks on BP from the Columbus area - a great opportunity to join a solid network of others who know your area and are more than willing (and qualified) to serve as a sounding board for your questions and ideas.

Good Luck.

Sam

Seems to me this "certain someone" is decorating her/his house the way they like it.

In my mind, going overboard in decorating ONLY makes sense if you don't intend to sell (as is the case you have described)....so you get to enjoy the fruits of your labors (and money spent).

Since they have been good tenants, I would inform them 45-60 days in advance that I do not intent to renew their lease because the dogs are disruptive to the neighbors. I would explain that I enjoy having them as tenants, but the situation with the pets makes it impossible to continue the lease.

By the way, if they want to stay you should "steel" yourself for the innevitable, "...we'll train them not to bark...."' or "....we'll cage them when we're out and that will solve it....".

Don't mean to hijack this thread (because we really are anxious to see the during and after pics....but great insights and information...thanks

A couple more questions if you don't mind.

- You wrote about salvaging scrap during the process. Was it worth the effort ($ vs. extra time spent)?

- How much "prep" work needs to be done? Obviously prepping the utilities, but anything "weird" that needs to be taken are of that is time consuming or expensive?

- How big was your 'crew'?

Thanks Aaron.

Aaron McGinnis .... don't want to side-track you in the middle of sorting photos, but I am looking at at tear-down option myself on a property. Just for a point of reference, what did the tear-down / haul-away cost? (acknowledging you're in ATL and I'm in NE Ohio so things will be different).

How much of that demo work did you do yourself?

Thanks

Justin Foster

I apologize...didn't read your original post closely enough.

My opinion...go for the good paying, stable job that can become a career - even if it is outside of real estate. You can immerse yourself in RE on the side. I believe it is easiest to get a solid start in RE if you have a steady well-paying job. Also best allows for building cash to put into play.

So, bottom line...my recommendation is go for the income.

Savannah Leigh

I think it's an amazing deal...if your numbers are right.

If you can indeed get $600/unit/month ($4,800 total), you could probably feel pretty good if you can anywhere south of $240K (purchase + rehab). It seems you are well within that range....even at the owner's firm $65K price.

Again, assuming all of your estimates/assumptions are in-line.

Justin Foster

Just my opinion, but I can't imagine just starting out in real estate without another full-time job to pay the bills. I'm hardly a real estate mogul now, but I've been at it for a couple of years and it is still a part-time endeavor for me.

Again, my opinion, but I think you are headed for disappointment if you jump into real estate with the intent it is going to immediately provide a stable income.

My advice would be full-time job first...then wet your feet with REI.