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10-14-2014 , 01:23 PM
Quote:
Originally Posted by Gonzirra
Same thing. I bought first place 15 years ago. When I started out I had to call somebody for virtually anything that happened. Fast-forward to now and I don't think anything about replacing a sink drain or toilet, a compression valve, doing drywall, cutting moulding, changing outlets, hanging a ceiling fan, installing cabinets are all pretty easy. Probably half of it is having the right tools for the job and not trying to take a shortcut.

Problem was I'd never really had to look at home repair bills before, my parents rented. After a dozen pros came through charging me insane amounts for quick jobs and realizing how drastic the markup was on parts, figured I'd take a shot here and there.

It was pretty lol when I figured out that you can get a box of 10 electrical outlets for $10 and it takes 10 minutes to replace one with a wire stripper and some electrical tape. Drywall, corner bead, joint compound cost almost nothing. For less than $20 you can replace a pop-up sink drain with a decent metal one.

The first time you do any particular job more expensive, but if you just want to stick to the common/easy stuff you don't need much nor high-end expensive pro gear.

Obviously I'll still leave something like an HVAC furnace install or granite cutting to a trade pro. And now my time is sometimes worth more than the cost of hiring out, plus some jobs I just don't like doing. But there's so much that's so quick, easy and cheap to fix still.

It has made me OCD about things I didn't used to care about. 15 years ago having to jiggle the handle on the toilet was normal, and I could ignore a nail pop.
+1 to all of this

A couple of things to add

1. As you said, Knowing what you can do yourself versus when you should call in a pro is really important.
2. Have the right tools. Many power tools are really inexpensive nowadays. I paid $600 for my old table saw about 25 years ago. I could replace it today with one with more features for less than $250. Circular saws and Mitre saws, etc are dirt cheap.
3. You can rent tools that you only need once (i.e jackhammer, cement mixer)
4. The internet is a great source of info, but check several different sources to make sure there is some professional consensus on how to proceed with your job.
5. Don't start any plumbing stuff when the hardware stores are closed...lol

The only thing I didn't like working with was plumbing supply lines. Then along came pex. Just love that stuff.
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10-15-2014 , 12:33 AM
Now I live in arizona so the summer bermuda goes dormant in winter so we overseed here every year with rye seed in October so we have green lawns all winter. In April or so the rye dies off and Bermuda comes back and then the cycle starts over again. Pretty nice though to have a nice green grass backyard like 49 weeks out of the year
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10-15-2014 , 02:08 AM
Very nice work, Bucky!

Those before pictures, though, are of one of the finest examples of a foreclosure property I've ever seen.(about 40)

This is from one of the worst. Putting it in spoiler for a reason(bathroom stuff)
Spoiler:
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10-15-2014 , 02:19 AM
Look on the bright side, those jobs make your remodeling decisions really easy.
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10-15-2014 , 08:04 AM
Quote:
Originally Posted by KPowers
Very nice work, Bucky!

Those before pictures, though, are of one of the finest examples of a foreclosure property I've ever seen.(about 40)

This is from one of the worst. Putting it in spoiler for a reason(bathroom stuff)
Spoiler:
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10-23-2014 , 10:54 PM
Quote:
Originally Posted by BuckyK
So, I purchased a 2 bed/2 bath condo in a Portland suburb about 3 years ago at the low point in the market. This was a bank owned property that had been abandoned for about a year before I picked it up for $93k. I'm going to attach some pictures from the home inspection, but they still won't do the place justice. To keep it short, the place was not liveable upon purchase.





I did extensive remodeling the first two years. Replaced the dry rotted floors in both bathrooms, re-painted every square inch of wall and ceiling, remodeled the en suite with new floors, door, light, and exhaust fan. Replaced all the carpeting that looked like there was a murder in the living room. Replaced the existing pergo floor with new laminate and extended it to the back sliding door (was carpet at first and was a sponge for my dog to track in all the dirt).

After two years, I turned my place into a rental. Once my renters turned out, I've decided to sell the place in the hot market. But first... The kitchen needed help.

The crappy tile countertop and dated cabinets had to go.



Sent the doors and drawer fronts to be professionally stripped, while I stripped the uppers and bases. Re-finished using Minwax Polyshades Mission Oak. I highly advise against using this product. It's crap, and I'm absolutely unsatisfied with my finished product. This stuff is garbage, and left huge drips down the face of my cabinets that didn't show up until after it dried. Do the stain and then apply the poly if you're going to take on this type of project.




Now the place is on the market for $140k, and my a-hole neighbors are busy telling my realtor that she shouldn't sell to young people.





All-in-all, I've probably sunk about $6k (not counting replacing water heater and fridge while the place was a rental) into the remodeling effort, and self performed all but the counter top and carpet install.
So if it sells for asking, you should clear around $30k after all is said and done? Not too shabby.
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10-23-2014 , 11:09 PM
Quote:
Originally Posted by BuckyK
Now the place is on the market for $140k, and my a-hole neighbors are busy telling my realtor that she shouldn't sell to young people.
If they actually try to interfere it could become actionable. There was an issue with a neighbor to my grandfather-in-law's place after he passed away that was pretty ugly. Last place I sold I heard a little about the price which someone felt was too low (it wasn't; she was just unrealistically high).

I hate people like that. Maybe invite your neighbors to purchase the property themselves and sell it to whomever they'd like to have as neighbors. Hell they should be thanking you for fixing up the place.
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10-24-2014 , 12:46 AM
Get a durable ladder and clean your gutters or have someone do it for 50 dollars. Just had my roof done. boiler, furnace on last legs ugh. Whenever getting any type of major work done like bathroom remodeling, or roof always have a few contractors come in and give you an estimate . Check better business bureau etc.

Last edited by ZeckoRiver; 10-24-2014 at 12:53 AM.
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11-04-2014 , 09:23 PM
Just moved into my first house and noticing some minor plumbing issues. I'm a pretty good diy guy but plumbing scares me...lol. Anyways the hot water handle on my tub is leaking pretty bad. I'm having to get channel locks to shut it off completely.

I've tried to Google some answers but not getting anywhere. Any suggestions on how to get this fixed without having to shell out $$ for a plumber?
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11-04-2014 , 09:48 PM
It's really super easy.

It kind of depends on what brand it is as to how to do it. Some are screws some are Allen.

YouTube has some videos on it. As long as you know where the water shutoffs are you'll be fine.
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11-04-2014 , 10:58 PM
Thanks for the input...+1 for the water shutoff, I made sure within the first day I knew where the main and spigot valves were.
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11-05-2014 , 09:58 AM
I live out in arizona and lived in my house for 5 years...just started noticing 4-5 spots around my house where there are termite tunnels. Anyone have any experience?

Obviously probably need to call professional company but I can't afford anything more than like $500-$600 for a treatment and I heard sometimes it super expensive...sucks

After I saw them I put down the pellets from Home Depot and sprayed them in with water so we'll see if that helps any...
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11-05-2014 , 10:52 AM
Check for moisture issues and rotting decaying wood around your house. If you just started noticing them you can get a jump on the problem b4 it gets out of hand. Try the bait stations for now and possibly look into an insecticide specifically for termite control that you can apply around your foundation. I'm a registered technician btw. Good luck.
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11-19-2014 , 10:53 AM
Recently picked up my first property over the summer for 149k... It' a simple 2 BR 2 BA second story condominium built in 1989. The community is safe, secluded, and maintained by HOA.

Switched and added new smoke detectors, new locks, new pipes under sinks and added steel pipe behind washer/dryer. Just had dryer vents cleaned and inspected in Oct.

Recently leased the property for one year to avoid needing to take out a student loan for graduate school. Figured one more year at home will be +EV down the road. The first thing I did prior to signing the lease was get fully insured. 100k personal property, 35k personal assets 500k liability.

Living at home one additional year is provides an excellent learning curve to keep a balanced budget while staying on top of any needed repairs.

Anyone have any tips to provide being a landlord?
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11-19-2014 , 11:00 AM
Best tip I can give you is to be very selective when you pick your tenants. They are the key to success.

I charge then for background check! If they don't want to pay for it, they are not good tenants.

If they have moved a ton of times, they may not be good tenants.

If they have filed backuptcy they are not good tenants.

If their car is a mess, they are not good tenants.

Charge them a deposit of one month rent and tell them that half of it is not refundable, if they don't like that they are not good tenants.

Get a home warranty on the property. Best $500/yr you will ever spend. AHS is a good company to use. When something breaks you pay $75 and they cover the rest. Thus will keep your cost and risk down.

PM me if you have more questions
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11-19-2014 , 11:11 AM
Quote:
Originally Posted by battagd1
Best tip I can give you is to be very selective when you pick your tenants. They are the key to success.

I charge then for background check! If they don't want to pay for it, they are not good tenants.

If they have moved a ton of times, they may not be good tenants.

If they have filed backuptcy they are not good tenants.

If their car is a mess, they are not good tenants.

Charge them a deposit of one month rent and tell them that half of it is not refundable, if they don't like that they are not good tenants.

Get a home warranty on the property. Best $500/yr you will ever spend. AHS is a good company to use. When something breaks you pay $75 and they cover the rest. Thus will keep your cost and risk down.

PM me if you have more questions
I had a wild ride selecting my tenants. Originally I hired a real estate agent however her quality in clients were horrible. Having 10+ yrs experience as a manager at a restaurant gave me a deeper insight separating the good from bad in in customer service industry. Ultimately I fired her with chocolate and flowers - said I was moving in and was grateful for all her help. Took matters in my own hands and I comfortably feel my tenants are solid...

I'll look into that home warranty... Thank you. Definitely sounds like it will save headaches considering I'm not much of a 'do it yourself ' handyman. I created an Angie's List account for whenever I may need basic upkeep....
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11-19-2014 , 11:12 AM
Quote:
Originally Posted by battagd1
Charge them a deposit of one month rent and tell them that half of it is not refundable, if they don't like that they are not good tenants.
Isn't a nonrefundable deposit just a fee?
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11-19-2014 , 11:30 AM
Half of the deposit is non/refundable. Call it a fee
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11-19-2014 , 11:33 AM
Using a real estate agent definitely seems like a mistake because they're motivated to get a body in there without feeling any of the pain of choosing a horrible tenant.

I don't see how charging a half month fee is a good way of determining if someone is a good tenant or not.
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11-19-2014 , 11:34 AM
Aren't the people who pay bull**** fees for no reason/assume that they will do at least half a month's rent worth of damage to the unit actually the ones who are likely to be bad tenants?
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11-19-2014 , 11:35 AM
Quote:
Originally Posted by BuckyK
So, I purchased a 2 bed/2 bath condo in a Portland suburb about 3 years ago at the low point in the market. This was a bank owned property that had been abandoned for about a year before I picked it up for $93k. I'm going to attach some pictures from the home inspection, but they still won't do the place justice. To keep it short, the place was not liveable upon purchase.





I did extensive remodeling the first two years. Replaced the dry rotted floors in both bathrooms, re-painted every square inch of wall and ceiling, remodeled the en suite with new floors, door, light, and exhaust fan. Replaced all the carpeting that looked like there was a murder in the living room. Replaced the existing pergo floor with new laminate and extended it to the back sliding door (was carpet at first and was a sponge for my dog to track in all the dirt).

After two years, I turned my place into a rental. Once my renters turned out, I've decided to sell the place in the hot market. But first... The kitchen needed help.

The crappy tile countertop and dated cabinets had to go.



Sent the doors and drawer fronts to be professionally stripped, while I stripped the uppers and bases. Re-finished using Minwax Polyshades Mission Oak. I highly advise against using this product. It's crap, and I'm absolutely unsatisfied with my finished product. This stuff is garbage, and left huge drips down the face of my cabinets that didn't show up until after it dried. Do the stain and then apply the poly if you're going to take on this type of project.




Now the place is on the market for $140k, and my a-hole neighbors are busy telling my realtor that she shouldn't sell to young people.





All-in-all, I've probably sunk about $6k (not counting replacing water heater and fridge while the place was a rental) into the remodeling effort, and self performed all but the counter top and carpet install.
Why did you go with a white stove?
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11-19-2014 , 02:03 PM
Quote:
Originally Posted by JoeyyyyyG
Recently picked up my first property over the summer for 149k... It' a simple 2 BR 2 BA second story condominium built in 1989. The community is safe, secluded, and maintained by HOA.

Switched and added new smoke detectors, new locks, new pipes under sinks and added steel pipe behind washer/dryer. Just had dryer vents cleaned and inspected in Oct.

Recently leased the property for one year to avoid needing to take out a student loan for graduate school. Figured one more year at home will be +EV down the road. The first thing I did prior to signing the lease was get fully insured. 100k personal property, 35k personal assets 500k liability.

Living at home one additional year is provides an excellent learning curve to keep a balanced budget while staying on top of any needed repairs.

Anyone have any tips to provide being a landlord?
Tenant selection really is the key. Have any applicants pay for the a credit check which you can refund them if they take the property. If they aren't willing to pay $30 up front to qualify for the apartment they aren't serious applicants or you don't them in your place. Ask for a work reference too just to verify their current income, or ask to see a tax return. And ask for the contact information of their previous landlord and make a quick phone call to check on their history.

Personally i disagree rather strongly with Battas idea that if someone doesnt want to pay a half month rent as a fee they shouldnt be considered as a tenant. In some super hot rental markets renters actually end up paying the landlords realtor fee to rent the place but that is the exception and outside of that randomly charging people a fee outside of rent is in no way standard. The point of a deposit is to protect you against damage done to the property, not a way to add extra money to your pocket. You come across much better just asking for a higher rent if you feel you can command it then randomly tacking on a non standard fee.
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11-19-2014 , 03:00 PM
Quote:
Originally Posted by ggbman1
Tenant selection really is the key. Have any applicants pay for the a credit check which you can refund them if they take the property. If they aren't willing to pay $30 up front to qualify for the apartment they aren't serious applicants or you don't them in your place. Ask for a work reference too just to verify their current income, or ask to see a tax return. And ask for the contact information of their previous landlord and make a quick phone call to check on their history.

Personally i disagree rather strongly with Battas idea that if someone doesnt want to pay a half month rent as a fee they shouldnt be considered as a tenant. In some super hot rental markets renters actually end up paying the landlords realtor fee to rent the place but that is the exception and outside of that randomly charging people a fee outside of rent is in no way standard. The point of a deposit is to protect you against damage done to the property, not a way to add extra money to your pocket. You come across much better just asking for a higher rent if you feel you can command it then randomly tacking on a non standard fee.
I own multiple properties and never had a problem with my strategy. The fee is kept to justify covering some of the clean up expenses after they move out. If your property is nice they will understand, if it's a dump it won't help.

I'm just sharing whar works for me and has worked for 7 years.

Bottom line is that you need to come up with a strategy that works for you and that makes you sleep at night. Certainly listen to everyone's story and then make your own plan.
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11-19-2014 , 03:44 PM
Quote:
Originally Posted by battagd1
I own multiple properties and never had a problem with my strategy. The fee is kept to justify covering some of the clean up expenses after they move out. If your property is nice they will understand, if it's a dump it won't help.

I'm just sharing whar works for me and has worked for 7 years.

Bottom line is that you need to come up with a strategy that works for you and that makes you sleep at night. Certainly listen to everyone's story and then make your own plan.
As someone who previously was a great tenant before owning, if a landlord tried something like this and I really wanted the place I would oblige.. and then take significantly worse care of the property and not care as much, since I was paying to have it fixed up after anyways. Definitely getting my money's worth (similar to AYCE strategy).
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11-19-2014 , 04:05 PM
Quote:
Originally Posted by Doc T River
Why did you go with a white stove?
The stove was a giant pain. The original build was a drop in with a toe kick underneath. As I was appliance shopping, anything new for a drop in was minimum $1200, and a slide in was about the same. I bought the used slide in range for $400 because that was all I could afford at the time.

Quote:
Originally Posted by 4 High
So if it sells for asking, you should clear around $30k after all is said and done? Not too shabby.
Went Pending 2 weeks ago for $134k. Knew I wasn't going to get the full asking, and opted to go for a safe bet with buyers that have cash instead of giving 3% concessions at full price to assist with closing costs.

Will net approximately $39k after all is said and done. Now I can pay off some student loans, and wait for the next depressed property that needs my help.
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