All Forum Posts by: Account Closed

Hi Vera, Franco is right, this game is the best. We bought ours back in 2000. It is a great way to shift a persons mindset. We have played it many times with like minded people from our investing groups and then sit and discuss. It can trigger different ideas around investing. Just find some people that are interested in learning, dig in and let the cash flow.

Hi Rose, I have found when pricing out anything it is best to use the tried and true method of getting three quotes from local businesses. I recently was having some tile work done and the quotes ran from $2,000 - $3800, big difference. When I am having work bid I will meet all three subs at the same time, this helps for several reasons. First off you will only have to explain what you want once, secondly it shows the subs you are shopping and will drive them to sharpen there pencils. Make sure to collect references from the subs and call them, people that have had a good or bed experience are usually willing to talk about it.

Michael, 

I don't know how far along you are on your project.

If you have a little construction experience you should be able to look up in the attic and see whats up.

First look to see if the joists and rafters are stick built or trusses. The way the house is laid out it would be reasonable to frame the house with trusses.

If they are trusses I would think that both walls are not load bearing. If stick built the one running perpendicular to the long wall is likely a load bearing wall.

You can get an experienced GC to look at it and they will be able to tell you.

If it is load bearing you will need an engineer to draw it up so you can turn it into the city.

Not that expensive. I just had an engineer draw up turning roof rafters and joists into trusses. It cost me a wopping $350.00.

Shepard, That is a journey that only you can answer.

I wouldn't quit your job until you have at least one years expenses in the bank. This will allow a comfort level and give you and opportunity to make decisions based on numbers and smart business vs from scarcity. There is nothing worse than having to make a decision because you need the money.

Hey Alex, congrats on ready fire aim.

Whats the company want to do with the land? 

Will zoning allow intended usage.

You can have your realtor look in MLS, you can drive around and knock on doors, check google maps for an ariel view.

Once you find a piece here are a few things to consider.

What will you need to do to get it ready for use?

Crunch your numbers, will it cash flow?

What insurance will you need to carry?

Cross all your t's and dot your I's twice.

Hey Jeff,

In order to get a higher grade ply which you would want, a: so it lays relatively flat. B. so it is more stable you are going to spend anywhere from $40 to $ 60 dollars. At $50 that puts you at $1.50 a sq foot. Then you need to purchase the splines or make them and then there is the finish. The labor alone to manufacture your own flooring, who knows, I guess it depends on how good you are and if you have all the equipment and time.

I just installed a oak solid wood prefinished floor for $2.25 a sq foot.

I feel time is better spent looking for a closeout, or looking on craigs list until you find what you want.

Hey Doug,

My first question is why is there so much condensate in the apt?

I agree with what Dave has said. I would add though the only time I have seen paint run is when it is applied to heavy. I have seen painters in haste apply the paint heavy trying to get out with one coat.

Also have had issues in high humidity areas such as New England in the summer getting paint to dry quickly.

@Paul Winka

Paul, There are two items I hate, refinishing floors and sheetrock. When it comes to flooring if I am installing wood I always go pre finished, when your done your done.

I have a guy that through the years I have fed so much work he always gives me a good bro deal on my drywall needs.

Other than those two things and anything else that would require a licensed trade person to do, I do.

If I am flipping my own residence which I have done every two years for the last twenty years, I do everything except the two items I hate.

This comment is coming from a diy addict. I agree with @Elizabeth Wilson, I have done a few floors and now know enough that for me it is best to sub out refinishing floors. Picking up the equipment is a hassle, returning the equipment is a hassle, doing the floor is a hassle.

In addition you buy what you finish, in other words you have 0 warranty on the floors. This also includes the quality of the finish and longevity of the product.

If you botch it up you own it. If the sub botches it they own it.

Do not pay in full until you are satisfied with the job.

@Wenhao Leu, not a whole lot of information to advise.

I am a fan however of building your own house, that is if you have the experience. If you do not it will likely cost you a ton more.

You can call the building dept in the city you live in and find out the average time frame for permit turn arounds. At this time you can also find out all the system development fees and anything else associated with the build.

Good luck.