All Forum Posts by: Trey Burns

@Joshua Howaniec I’ve found that to be a bit of a myth. I think when people say that they mean the ones they find on Google, HomeAdvisor, etc. Again, it takes work, but there are great contractors out there willing to do smaller jobs. 

Had a “professional” sheetrock guy in one of my remodels on Monday who quoted me $1,600. Had another guy come in yesterday who quoted me at $550 and will be onsite tomorrow. This guy does great work, but approaches jobs one by one instead of booking himself out far in advance. Found him through my roofing guy. They’re out there. 

I've experienced the same @Joshua Howaniec. I've learned to follow those that follow-through and do what they say they're going to do when they say they're going to do it, even in the smallest things. It takes a lot of work calling for bids and trying to coordinate when they can get to your project, but the ones with character stand out, and they'll be the ones still in business when the economy levels out. I'm currently doing two flips and a new build and the philosophy has panned out so far. 

Real also recognizes real, so to speak. An example from two weeks ago is me calling a builder who only does jobs $500,000+. I called him to ask his advice on building a home at $70,000. We have a short relationship from another job he's doing for charity, but we showed up on time and paid him on time every time. Once I shared the vision of what I'm trying to do, he said "ok" to designing me three homes in that $70,000 range, which is completely outside of his wheelhouse and typical profit margin.

Basically what I'm saying is stick to your vision and don't accept this "too busy" bullcrap being accepted in the current economy. Be tenacious about building your character, don't accept anything less than excellent, and be patient. 

Thank you for the wisdom and challenge to think @Rich Weese. I can't speak to all your points, but will say one thing. The younger generation is thankfully seeing through the biggest marketing scheme of all time: that paying a bank interest and rent is "owning" a home.

It's going to take more of that thinking to correct this ridiculous demand for tract homes at $125+ per square foot. The younger generation is also way more environmentally conscious and is tired of seeing large chunks of land bulldozed and cleared to squeeze in as many houses as possible. 

I think there's a solution in building smaller and keeping rent low so that people aren't paying half their paycheck for a basic need. Tenants want cashflow just as much as a landlord does. It doesn't have to be tiny homes, just small 2 br 1 ba homes with all the appliances. We're currently looking into creating that option.

I'm currently managing one for a friend to learn the ropes and highly recommend it. We went through The Book on Managing Rental Properties together chapter-for-chapter and then delegated responsibilities accordingly. You don't need to get a license. It's not complicated. A friend of mine manages 39 of his own while doing all the rehab and repairs. I wouldn't recommend that, but you'll be amazed at what you can do once you get your boots on the ground.

You're clearly driven (19 years old), understand follow-through (as evidenced by your replies to every post on here), and know what work is (currently working full-time while learning a new trade). I would start with your friends' properties and if you really enjoy it, sure...go for the licensing if you want. But until then, why not start today? 

If Jim Harbaugh can sell the fanbase on a potential national championship, surely you can sell them on this :) 

But seriously, since you're already demoing it offer it to some frat guys or similar group for the fall semester. Add a couple of the things @Noah Weitzman suggested and sell them on a place to host their friends on gamedays. Make the rent so cheap they can't resist and tell them they can literally destroy it. 

My college days were all about saving a dollar and making memories. This would have been right up my alley. 

When it comes to money and me not feeling so sure, there's usually a reason. Outside of the Gospel, if it seems too good to be true it usually is. I assume the best about all people, but have learned through getting burned that money exposes the ugliest part of people. You can't always prevent it from happening, but unless you really trust and know this owner, trust your gut. The fact you created a BP account just to ask input about this deal most likely indicates something isn't what it seems. 

I agree with @Greg Dickerson. You'll basically be paying for your own schooling along the way. Start with a property in terrible shape, restore it, and then have confidence for the rest of your life that you can do it! 

Why not house hack the duplex? You could renovate one side yourself and contract the other side to double your education. 

I honestly find it ironic that a forum full of diyers (including me) are in outrage that a tenant would take initiative and do it themselves. I would be thankful for the quality of tenant you have after you admittedly rushed the decision. 

Get a lawyer to type up a release of liability form or whatever gives you peace and unleash him. We're talking toilets and outlets, not a roof or foundation. You owe the tenant discounted rent after leasing it with those known issues present. 

Thankfully it’s not lathe and plaster @Carleen L.. I guess it’s some kind of gypsum board with plaster on it? I looked at the topside from the attic and it’s a solid board connected to the roof joists. 

That’s a cool idea @Jim K. but the ceilings are already pretty low. I guess the drop ceilings are starting to catch on in residential?

That’s encouraging @Karl B. because walls are next on the list!

I agree with you @Wesley W. on the quality. It would bother me as well after hearing how it’s done. 

Thank you all for the replies and happy Memorial Day!

Restoring a 1950s ranch home. Plaster ceilings have multiple cracks throughout home, some the length of rooms. Have had multiple contractors and friends suggest putting drywall over all of it. Seems like a temporary fix to me as that would eventually crack too, but I’ve never done it. Would you suggest patching cracks or lay drywall over it?