All Forum Posts by: Steven Westlake

Updated pics of remodel progress. This is a conversion from a 1 bedroom to a 3 bedroom, so not a simple clean and paint. Plus i have had some health issues which has caused me to work a lot less.

@Nathan Gesner- my current policy is to not rent to relatives and do periodic inspections. Thanks in part to this educational opportunity.

Pics update

@Chaim T. - link doesn’t work, but I’m on a phone, so my on my end.

@Dustin Tucker

I already own this property with a triplex on it. I do like the one at a time plan.

Has anyone ever used conex / shipping containers as mini storage? I was driving by a lake resort area and seen this being done. If a 20 x 8.5 unit delivered is $3000 and it rents for $90 per month that is 3%, at a time when 1% is hard to find. I have some land behind one of our triplexes. Which would probably hold 10 units. So 30k for 900 income, perfect numbers for syndication, and built in under a week.

Plus they could be moved later.

Please, Shoot this down if you can, what did i miss?

With a little caulk, you can skip even putting trim inside closets.

@Kristi K.- good point

@Henry T. - i like to think I’m pretty handy, I’m am a retired mechanical engineer. I do 90% of my own work. 200k I could build brand new from the ground up.

The liability issue concerns me, but I’m thinking with a trust holding each property limits it to just that property. Plus if I borrow against and move that money elsewhere, the limit would be value minus dept.

Low quality-no arguments from me.

 I still have 2 that were under that system. I say were because 1 of them moved in a new boyfriend who has a full time job and they now they pay without the assistance.

No issues with either of them so far.