Only 1 More Left! (by WmH [NC]) Nov 20, 2022 5:22 PM|
Only 1 More Left! (by James [GA]) Nov 21, 2022 3:54 AM
Only 1 More Left! (by WMH [NC]) Nov 21, 2022 10:21 AM
Only 1 More Left! (by Busy [WI]) Nov 23, 2022 9:46 AM
Only 1 More Left! (by WMH [NC]) Nov 23, 2022 9:54 AM
Only 1 More Left! (by Sandy [CO]) Nov 25, 2022 10:10 AM
Only 1 More Left! (by WMH [NC]) Nov 25, 2022 4:41 PM
Only 1 More Left! (by zero [IN]) Nov 25, 2022 6:39 PM
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Only 1 More Left! (by WmH [NC]) Posted on: Nov 20, 2022 5:22 PM
Listed our penultimate rental today. It will rent quickly. Took us YEARS to get around to it...bought and rented others but this one just sat there for some reason - since 2015! Oh well done now.
Only one more left to renovate in our back pocket, that will be DH's project for 2023 if he feels like it. It will just be a studio but needs everything from soup to nuts. Right now it's storage. Bought the building in 2021 and renovated/rented 2 of the units. This last one, we'll see.
And maybe we waited long enough for prices to drop so we can find more? But so far, nothing appealing out there regardless of price. I'm sick of lime green and purple and navy blue walls with crapola carpet...too old for it. --50.82.xxx.xxx
Only 1 More Left! (by James [GA]) Posted on: Nov 21, 2022 3:54 AM
WMH - you've posted about your family member/s coming on. Would this be a good project/test for them to 'learn the ropes'? --91.41.xx.xxx
Only 1 More Left! (by WMH [NC]) Posted on: Nov 21, 2022 10:21 AM
James, my sons have all done their fair share of work on our homes over the years (and DH has done more than his fair share of work on theirs!) Probably we will pull Youngest Son (YS) into the next project, as he will be the one who is nominally the head of the biz at first. He's not a handy guy at all, though he's turning out to be excellent with the biz side of the biz, which is most important. --50.82.xxx.xxx
Only 1 More Left! (by Busy [WI]) Posted on: Nov 23, 2022 9:46 AM
You were very smart to buy as you found them, even though they weren't getting renovated immediately. The small carrying costs of holding on to an empty unit are very small compared to the very dramatic increase in prices recently. Even my husband has admitted that if I had bought an additional house or two when prices were so depressed, it would be worth it now. But I didn't. So, my houses are full, I have no projects to work on. One tenant is looking for a bigger place, and IF she finds it, that house needs a major redo, but all the stuff that can be done with a tenant in place has been done. And, she isn't likely to find anything any time soon. --70.92.xxx.xxx
Only 1 More Left! (by WMH [NC]) Posted on: Nov 23, 2022 9:54 AM
Busy, you are right, thanks for making me feel better about that unit sitting empty for so long! It was just an old garage, and the main house was rented all this time, so actually no real carrying costs on that one at all.
When we finally did it, we hired out most of the work and had it re-done from outside in: new roof, new siding, new windows, new insulation, new drywall, new flooring, new plumbing, new electrical, etc. It was basically a crumbling shell when we started.
And after all that, it was only about double what we normally spend on a reno even in these times of high materials and labor costs. I can't figure that out, I must have erred somewhere, left some figures out, but who cares at this point? --50.82.xxx.xxx
Only 1 More Left! (by Sandy [CO]) Posted on: Nov 25, 2022 10:10 AM
That's fantastic! Congratulations. It always feels so good to complete a project. And that was a big one. It seems like you basically built a new house. Did you hire a general contractor or did you piece everything out? I bet it looks beautiful.
I've been redoing one of our houses and I feel like it's taking more money than expected. Every time I turn around there's something else to do. I think these piece meal projects end up costing more as a whole. --87.249.xxx.xx
Only 1 More Left! (by WMH [NC]) Posted on: Nov 25, 2022 4:41 PM
We pieced it out over years...we've worked with a GC once, when a town made us in order to qualify for the particular permit we wanted, and we did just as must work. He was paid 10 or 15% of the total job (which we had to declare as a part of the permit) for basically nothing. --50.82.xxx.xxx
Only 1 More Left! (by zero [IN]) Posted on: Nov 25, 2022 6:39 PM
If you are that bored maybe you should consider a little vacation. Head on over to Indiana and I can set you loose on a lot of little projects that you seem to love doing.
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