All Forum Posts by: Account Closed

Lisa,

I don't know if what I am going to say will help but here we go.

Moving fast in any situation where you are not an expert or a least versed is a big risk.

It is sometimes better to take this situation, educate yourself and move on the next one.

I would encourage you if you don't already to put a team of people together, real estate agent, attorney, mortgage broker, title company ext.

Once you have this team in place you can get these type of questions answered quickly.

A quick way to loose money is ready fire aim.

@Bao Pham, A few things to comment on. Regardless of owner financing yes the price matters, what you pay is one of the most important parts of the formula. Make sure you have hard numbers and not guestimates on your rehab, questimates will bury you quicker than anything.

Also the zoning is weird. Turned back to agriculture? I would head down to the county or city and find out if you can truly turn this structure into a 4 plex. 

A large project for your first one is not bad. Before I headed down this path however I would make sure you can do what is proposed via county/city. I would have an itemized list with hard numbers not guestimates and I would have a clear understanding of comps/pricing.

Lastly I would have a clear path as an exit strategy, write down the worst case scenarios A, B and C and plan accordingly.

Adam,

I forgot to add in and answer your question. I pay my handyman $25.00 per hr.

For that I get good reliable results.

Adam,

I see responses from all over the country. Keep in mind you can buy a rental in the rectangular states for $50,000. Not going to happen in Kauai.

I would take the time to source 3 or 4 handymen and get them to bid the job. You shouldn't be paying for them to look at the job. 

This will give you a good idea of what they charge and if you will like working with them.

Handymen will charge what the area will bear.

@Jen Etten

Jen,

I am curious to your decision on your spec house lighting. Did you do a cost comparison?

With new construction I think you would find it easier and cheaper to rough in while the frame is open. Please do tell.

Elizabeth,

@Carley M.Has good points. The one thing to realize is if you do this you now have a renter. If they decide not to pay you will need to go through the standard eviction process and this can tie your property up for awhile. If you do go through with the tenant make sure your language in the rental agreement says Et Al. This will assure your eviction covers everyone. We once evicted a tenant, come to find out she had moved and let her sister move in. We had to go through the process again evicting the sister because our agreement didn't say ET Al.

Rommel,

There are many factors to consider for your project. First thing I always do when considering a project is head down to the city with a ton of questions and ask away. This will get you a clear understanding of what you can and cannot do. This information will be first hand and accurate. I build all over the country and cannot emphasize enough how much the rules change between jurisdictions.

A few things to consider. If you choose to take the frame down and start from scratch with the new structure will you reuse the foundation? In my area all foundations need to be engineered, depending on where in the valley we build the foundation costs could be $30,000 to $100,000 K. 

Saving the foundation will add extra cost to your demo because you will need to be carefull.

If you are going to take this on I would first have two scenarios drawn. A remodel and demo and new.

It would seem unless you are changing the footprint using exterior walls would be a way to go.

There are so many factors to look at it is tough to advise without knowing the extent of the whole project as @Sam LLoyd said.

Michael,

A french drain if done properly can funnel a ton of water. I would put it at the property line. How much room between your house and the property line?

Rural or city?

Austin,

I am not a mold expert but have quite a bit of experience dealing with it. Just about every lumber load I receive now a days has black mold already on the lumber when delivered. When this is the case after we have framed a house we will dry the lumber to a percentage before moving forward, usually around 14%. Mold will not grow if you have the moisture in control, it needs moisture to continue to live. Once it is dead it does leave a stain but will not continue to grow. Once we have done this and finished the project the stained lumber has never been an issue with any of the inspectors.

@Eric Oszczypala

Eric,

Sorry I didn't get back. I have been out of town.

cold water works fine. In our county regardless of age the dump needs to see a report on asbestos when dumping suspect material.

I have used the home depot tool and am not a fan. If you don't use water at least in my experience you will be doing a lot of sheetrock repair.

Experiment a little and find what works best for you.