 No Dining-room (by DNB [PA]) Apr 20, 2019 7:45 AM
 No Dining-room (by David [MI]) Apr 20, 2019 7:51 AM
No Dining-room (by NE [PA]) Apr 20, 2019 8:07 AM
No Dining-room (by WMH [NC]) Apr 20, 2019 8:13 AM
No Dining-room (by DNB [PA]) Apr 20, 2019 8:29 AM
No Dining-room (by NE [PA]) Apr 20, 2019 8:32 AM
No Dining-room (by Deanna [TX]) Apr 20, 2019 8:49 AM
No Dining-room (by Ken [NY]) Apr 20, 2019 9:09 AM
No Dining-room (by Robert J [CA]) Apr 20, 2019 9:15 AM
No Dining-room (by AllyM [NJ]) Apr 20, 2019 9:22 AM
No Dining-room (by Still Learning [NH]) Apr 20, 2019 9:56 AM
No Dining-room (by melinda [MD]) Apr 20, 2019 10:08 AM
No Dining-room (by WMH [NC]) Apr 20, 2019 10:34 AM
No Dining-room (by plenty [MO]) Apr 20, 2019 10:55 AM
No Dining-room (by Wilma [PA]) Apr 21, 2019 6:44 AM
No Dining-room (by gevans [SC]) Apr 21, 2019 4:40 PM
No Dining-room (by DNB [PA]) Posted on: Apr 20, 2019 7:45 AM
Message:
Hi all.
Working on a flip - 1600 sq. ft cape. B+ neighborhood
The selling point of this one is the terrific large lot.
This 1950's Cape has not DR
Kit. has room for an island OR eik table - not both.
Do folks really use dining rooms any more ?
Would a LR/DR combination work ?
Suggestions ?
Also, I'm planning on a 40% tax hit on the profit ( owned 3 months, including Realtor fee) - Does this sound right ?
Thanks all
--98.216.xx.x |
No Dining-room (by David [MI]) Posted on: Apr 20, 2019 7:51 AM
Message:
I rent mostly 1000 sqft ranches, they don't have room for a separate dining area. Some of them had a 200-300 sqft addition that works as a separate dining area.
I think for 1600 sq ft, buyers would expect a dining room. Maybe not officially walled off, but an exclusive space. --50.4.xxx.x |
No Dining-room (by NE [PA]) Posted on: Apr 20, 2019 8:07 AM
Message:
40% tax hit? Why? Can you blow out a wall to open the kitchen up? --174.201.xx.xxx |
No Dining-room (by WMH [NC]) Posted on: Apr 20, 2019 8:13 AM
Message:
None of our places has a "dining room" and no one has ever mentioned it LOL!
Wait, in ONE house that has a large great room addition, the much older lady tenants used the former living room as an official dining room, simply because they were old enough to have the furniture.
Everyone else either eats on their couch, or they set up a dining "area" somewhere.
But I tend to rent to couples and singles, maybe a few babies out there these days, but no large families because our place are all too small. --50.82.xxx.xx |
No Dining-room (by DNB [PA]) Posted on: Apr 20, 2019 8:29 AM
Message:
Tax hit :
6 % Realtor fee
24 - 26 Fed Oridinary income
3.07 PA
1 transfer tax PA
? tax as I live out of state
No for the wall blow out --98.216.xx.x |
No Dining-room (by NE [PA]) Posted on: Apr 20, 2019 8:32 AM
Message:
Flip in an LLC that elects S-corp tax status and you'll cut out FICA.
I don't add realtor commission into taxes, because well, it's not. --174.201.xx.xxx |
No Dining-room (by Deanna [TX]) Posted on: Apr 20, 2019 8:49 AM
Message:
When we first got married, we had nothing. Our kitchen table was a camping table with a roll-up top.
A little later, we saved enough to buy a $100 kitchen table with four chairs.
When we graduated from our respective advanced degree programs, we bought ourselves a formal dining set. Big fancy carved buffet, big fancy carved table, eight big fancy carved chairs. (Awesome place in DFW for affordable over-the-top furniture-- U Snooze U Lose. :P Great deals. I don't think it exists anymore...) It was too big for our rental, so we stuck it into a storage facility while we waited to see where the next step of life took us.
We found out where the next step of life was taking us. One of our requirements was that it needed to give each of us a manageable commute-- our jobs were 60 miles apart -- and the other requirement was that it needed a formal dining room that would fit our needs. There were exactly two houses for sale that fit our criteria. And yes, our LR/DR was a combo space, although it had accordion walls to split it into two spaces... which we never used, because accordion walls are cheesy. :P
So-- all that being said-- younger people nowadays don't have the same status symbols that people of our generations had. They don't have the nice china, the formal furniture, the parlor, whatever-- they have the trips to Machu Picchu, the cruises to Cuba, whatever.
Renters generally don't burden themselves with that kind of big furniture. A king-sized bed, yes. A big-screen tv, yes. But generally not a formal dining set. But this is a flip.
So without the formal dining room, your buyer is likely to be under-40, and/or someone who is getting out of renting and hasn't had time/spare money to burden themselves with possessions. --96.46.xxx.xx |
No Dining-room (by Ken [NY]) Posted on: Apr 20, 2019 9:09 AM
Message:
I wouldn't worry about it,just make it nice and sell it,sounds like a starter home and they wont expect everything,they will buy the house that best fits there needs that is available when they are ready to buy.If nothing needs to be done and is move in ready that is important to the young generation because they cant fix anything themselves and think they are above that --72.231.xxx.xxx |
No Dining-room (by Robert J [CA]) Posted on: Apr 20, 2019 9:15 AM
Message:
In my various properties with no specific dinning room, I carry the kitchen floor beyond where the small kitchen table sits to simulate a larger eating area. --47.156.xx.xx |
No Dining-room (by AllyM [NJ]) Posted on: Apr 20, 2019 9:22 AM
Message:
I would leave the room for the kitchen table. Islands are not comfortable for larger people and generally require stools. That limits your buyers. In the advertising put Eat In Kitchen. As someone who enjoys cooking I prefer placing food right on a table rather than negotiating doorways. --173.61.xxx.xx |
No Dining-room (by Still Learning [NH]) Posted on: Apr 20, 2019 9:56 AM
Message:
I have seen it all work in people’s homes, tables, islands, couches. I worry less about dining room and tables because these days you can get cheap lightweight folding tables that can be set up and taken down for holidays which is when the dining room is used. We have a dining room but when we have 16-18 people I now clamp 4 6 foot tailgate type tables together for holidays since we don’t fit in the dining room. Whatever you decide will excite one buyer and be an obstacle for another. --24.61.xxx.xx |
No Dining-room (by melinda [MD]) Posted on: Apr 20, 2019 10:08 AM
Message:
As along term realtor and landlord, I have not heard any comments about lack of a dining room for a LONG time. Agree with above comments--people are not using a formal dining room any more. Eat in the kitchen or use a part of the living room to eat. Flip on! --24.233.xxx.xx |
No Dining-room (by WMH [NC]) Posted on: Apr 20, 2019 10:34 AM
Message:
I just remembered my son and DIL bought a dining room table and have a dedicated room for it (because it's an older house) but they use it 99% of the time for gaming with their friends LOL! They host game nights all the time. --50.82.xxx.xx |
No Dining-room (by plenty [MO]) Posted on: Apr 20, 2019 10:55 AM
Message:
New display homes show dining room comdo with living room. Sounds trendy. Id leave room in kitchen for table or their dream island. --99.203.xx.xx |
No Dining-room (by Wilma [PA]) Posted on: Apr 21, 2019 6:44 AM
Message:
I've got one sfh that has an EIK and a DR. The single tenant eats at tray tables in the LR. No table in the kitchen, and the DR table is basically his desk.
I'd go with the EIK and forget the island. --71.175.xxx.xxx |
No Dining-room (by gevans [SC]) Posted on: Apr 21, 2019 4:40 PM
Message:
Only one of my rentals has a formal dining room, and the tenants have a pool table in there. LOL
Formal dining is pretty much a thing of the past, except for the idle rich. --173.233.xxx.xx |
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