All Forum Posts by: Scott Phillip

Hi Q. I've reinvented myself professionally three times over the past two decades. Like you, I'm looking to do it again with real estate. The three things I did each time to achieve success were pretty simple and something I could control:

1. Fake it until you make it.

2. Accept the fact that you will make errors but learn from your mistakes.

2. Work harder than the next guy.

Good luck. You got this!

Scott

Sorry for being four years late with this response...

I recently solved the problem of ugly and damaged fascia using 8.25" x 12' James Hardie Siding. It's a concrete-based product that is very durable and resistant to water and fire that can be installed over existing wooden fascia boards. Since the siding is only .25" thick, it's pretty light.

The "chunkier" appearance of this product when it is used as fascia gives a home a more modern, appealing look from the curb.

Installation is simple. One needs to remove the old drip edge, pre-drill the Hardie Siding and screw it on to the old boards, then install new metal corners and new drip edge on the roof. 

We just used this product to put new fascia over heavily weathered wooden fascia on a 2000 sf, 50 year old tri-level. The total material cost, including paint and primer, screws and corner metal came to $550. Excluding painting, the project required a total of 32 hours of labor; I'm an old guy who works slowly! Overall, we installed about 180 linear feet of new fascia.

Thanks,

Scott

Hi Patrick. I guess you could say we're slow flippers... we move every few years and buy a new fixer-upper.

Sherwin Williams brand products are generally fantastic, but they are expensive - even with a contractor discount, in my opinion. For kitchen cabinets, Sherwin's line of Emerald Urethane Trim Enamel is a decent choice. 

For interior paint, I usually purchase PPG Speedhide in a satin finish from Home Depot and have them tint it to match Sherwin colors. Since the PPG product costs about $130 for 5 gallons, this saves a fortune! For exterior use, Glidden Premium, again from Home Depot, can be also be tinted to Sherwin colors at a cost of about $175 for five gallons.

Hope this helps,

Scott
 

Hi William. Although I don't work in real estate, my employer does have a real estate division. Our "problem" properties are in rural areas; we contract with security firms to patrol the properties and report issues immediately to the local sheriff. The downside - it's expensive.

I suppose you could use cellular-based trail cameras that ping your phone and shoot video when triggered. Alternatively, since electrical service isn't available, you could use a cellular, battery powered mobile hotspot with Blink cameras, provided the hotspot could be protected from theft.

Scott

 Thanks, Kendall! I'll be in touch.

Scott

Thanks, Mike. Knowing he's a frugal guy, I may offer him some used fence board I have for free and help install them. 

In all fairness, his mess was present when we bought our property so this is more my problem than his.

Scott

We're planning on listing our primary home for sale in about six weeks. It's in a Boise subdivision (no HOA), on an acre, and in immaculate condition. Our neighbor mostly keeps his home and front yard maintained, but the back 1/2 acre of his property is a wreck - several old cars, a hodgepodge of sheds and zero landscaping. His unsightly back yard is visible through an existing chain link fence from the street.

I'm worried his mess may impact the sale of our home. 

The good news is that three months ago he set posts for a 6' tall cedar fence that would screen most of the problem areas. The bad news is that he's made no progress since then and made things worse by building a shoddy lean-to against a ramshackle shed that's fully visible from the street.  

I've politely asked him to finish the fence and even volunteered to help; my effort seems to be in vain. I've also built fence and a large berm on my property to help screen out as much of his mess as possible.

What have you done to deal with similar issues?

Should I politely ask him to finish the fence again, threaten to report him to code enforcement for his multiple unpermitted outbuildings that don't comply with zoning if he doesn't finish the fence, report him to the county for the myriad of existing violations, just live with it, or something else? 

Here's the icing on the cake: his central air failed earlier this summer and he now has at least five window units on the house, propped up with two-by-two sticks! It's mindboggling that someone could own a half-a-million dollar property and not take care of it!

Thanks,

Scott

I appreciate the encouragement and the candid advice greatly!

We're prepared to live without a regular income for a while and are willing to put in hard work to succeed. Over the past year we've worked to educate ourselves about real estate investing and fully realize the best teacher is experience! 

Much of our research has focused on the Huntington, WV area. It appears to have many similarities to how Boise was 25 to 30 years ago. Specific to Huntington, given recent efforts by officials to raze blighted properties, improve comprehensive planning, attract new industry, and given the low ratio of new housing units build to jobs created, it appears there are opportunities in that market. I also like Huntington's proximity to Kentucky and Ohio, because it provides convenient access to markets with other dynamics.

We've also talked about starting slowly because experience is a harsh teacher who gives the exams before the lessons!

To succeed in a new market, and really a new industry for us, we're going to need to develop a solid team. There's much we can do ourselves, but we realize there are things we shouldn't or can't do.

Soon we'll head east for a vacation to explore the areas we're interested in. I can hardly wait!

Again, thank you for the advice and encouragement!

Scott

Hello! This is my first Bigger Pockets forum post, although I've lurked on the forum reading posts and learning a great deal along the way. I'm also an avid listener of Bigger Pockets podcasts!

My wife and I are contemplating a radical change: "retiring" early, moving from ID to WV, KY or OH, and investing in real estate. I currently have an executive-level job in state government and she's a homemaker with legal secretary and bookkeeper experience who can stretch a penny into copper wire. If we pull the trigger, we'll leave Idaho with no debt and $200k to invest in distressed properties. We have considerable experience rehabbing as we've bought fixer-uppers as primary residences, added value, then sold and repeated the process every three to five years throughout our marriage. Consequently, we find the BRRRR strategy appealing! As a young man, I was a cabinet maker and have mad DIY skills along with a shop full of woodworking, metal working and home improvement tools. We enjoy remodeling homes, repairing things, and especially love landscaping.

We both want a life that will afford us more time together; with my current job I work long hours and travel frequently.  Although we live on an acre in Boise, we want more space to pursue our shared passion, gardening. To afford the acreage we desire here in Idaho, I'd have to work well into my 60s. I'm 52 and men in my family generally don't live past their early 70s. Making the most of every moment is important to us, so moving to a more affordable area with an agreeable climate where we can work together on things we enjoy sounds appealing.

Financially, a change like this is scary. However, if we fail miserably, our modest retirement is secure because we've been careful with money and made good decisions. If needed, we can find regular employment or can start a new business (which I've done before). We're also very frugal and content living well below our means.

I'm curious to know if any of you have taken a calculated leap of faith to live the life you want? Was the change what you expected? Were there pitfalls you didn't anticipate?

In advance, thanks for sharing your experiences.

Scott