All Forum Posts by: William Hiday

A lot of the pro floor refinishers have dustless sanding equipment.  These guys are set up to go into occupied homes and refinish the floors without making a colossal mess.

We've refinished our own floors before and I'd like to think that we're pretty good at what we do, but the finish level isn't nearly as nice as what you'll get with a professional outfit that does it day in and day out.  Add in the fact that they're typically doing it for $2.50+/- (Indy market) a square foot and you're borderline crazy for trying to do it yourself.  Remember, you have to rent the machine, buy the sanding discs, buy the stain, buy the clear coat, etc.  After you add all of that up, take into consideration what your time is worth.  If you've got the extra time, then go get you a piece of the floor refinishing action.  For me, I'm letting the pro do it so that a) I don't burn up a week of my time and b) the finished product looks top notch and not DIY.  Just my two cents.

Grays are in right now, but they're tricky to get right. Try Sherwin Williams "Mindful Gray". It's warm and doesn't look blue. Pick a couple colors (two colors from the same color sample stick is a good tactic; make sure they're at least two shades apart from each other) for the walls and USE FLAT paint on the walls. Cleaning crews typically won't scrub walls, so using flat paint allows you to go in and do spot touch ups without it looking like crap. Semi gloss on the trim as it's where the finger prints and scuffs typically show up. The "two color tactic" works well if you have multiple properties. Pick two and you never have to remember what color you used in which house.

Taking out a single course of tile is a bad idea as you lose your water-proofing once you cut into the backer and depending on how old the house is, there's a chance that there wasn't and backer board used and the tile was stuck straight to drywall. Save yourself a headache a few years down the road and have your contractor put in a completely new fiberglass tub and shower unit. No waterproofing needed, no grout to maintain/clean/repair/replace, etc.

Steel doors are budget friendly, but you might want to check out fiberglass as well. Ie: Therma Tru Smooth Star. Fiberglass has a better R-value, won't dent and and won't warp. You might want to also take a look at Kwikset Smart Key locks. Very affordable and you can "change the locks" in ten seconds when the tenant moves out without spending a dime.

I'd steer clear of peel and stick tiles. What's the number one thing that causes damage to a house? Water! If you use typical 12x12 peel and sticks, you're giving water ample opportunity to penetrate your top layer and get to your subfloor because of all of the seams.. I'm not a fan of traditional vinyl flooring, but at least it covers the entire floor without a grid of seams. I know you don't want to hear it, but bite the bullet and hire a tile setter to come in and install some budget friendly ceramic or porcelain. Most bathrooms are under 50sf, so it shouldn't set you back that much. It will pay off in the long run as the initial cost of tile will be a fraction of what you'll pay a contractor to come in and replace rotted subfloor.

Bring in a lawn and landscaping contractor and give him $1000 to work with. You don't need to break the bank buying tons of plants and trees and whatnot; just have him mow it nicely, edge the sidewalks, trim the bushes, and cut out a few flower beds. Mowing stripes and fresh mulch are quick, easy, and inexpensive ways to get some curb appeal!

Quick bio: Owned a construction/remodeling outfit for ten years.  I've done stick builds from 1000sf to 6000sf and remodeled homes from every decade dating back to the 1840's.  I've owned, rehabbed, and managed several single family rentals over the years as well.  Currently working as the Business Development Manager / Project Manager for a very well-respected custom home builder on the northeast side.  

What I'm here for: I had to liquidate my portfolio a couple years ago and I'm looking to get back in.  I have the know-how and supporting cast to make it happen on the construction and management side of things;  I have shovel-ready building plans (single family and duplex), I own or have first rights on several infill lots, and I'm chomping at the bit.

Mr. Thomas-

Would there be a local agent who could show me the property.  I live and operate my business approximately 20 minutes from this property and I'm VERY interested in it.  Please contact me at your convenience at either 317-408-0611 or [email protected]

Thanks in advance,

BH

Good question.  You'd have to check with the municipality where the TIF is set up to see what's allowed and what isn't.  I know that we are really targeting a specific type(s) of businesses/development within our TIF district (ie: trying to stay away from big box retail, chain restaurants, etc), so we're very selective when it comes to doling out abatements, etc.  

We're a town of 4,000 that is right in the path of Indy's population boom out into the northeast suburbs, so we set a very detailed plan and vision into place in an effort to get the exact type of growth that we wanted as opposed to just opening things up for a free-for-all sprawl of strip malls and whatnot.  For example, we've granted two here recently; one for a microbrewery/restaurant that is dumping $1.3mil into an old building on Main St. and the other was for the expansion of a medical plastics welding business.  

Your next step is probably to get in touch with an attorney who is versed in municipal and tax law as you guys' rules and regs probably differ from what we have in place.

Good luck and don't hesitate to hit me up!

I serve on the local Town Council and we just re-drew an existing TIF and implemented another brand new TIF in hopes of attracting positive commercial and residential growth.   My advice to you would be to a) get in touch with an attorney who is experienced in this sort of thing and b) think along the lines of tiered or stepped tax abatements.  

A lot of the developers who are coming to us are using five and ten year models where they (ex) pay 0% the first year, 10% the second, 20% the third and so on and so forth until they're paying 100% by year 10.  

We have typically been requiring these developers to meet certain progress marks (construction complete in XX months, be open for business and hire at least XX employees within X years, etc, etc), and we also use the abatement as a leveraging tool (ex: we'll grant the abatement, but you need to replace all the sidewalks on your property and give us a 15' utility easement).  

My point is this: be willing to negotiate and try for a win/win.  If they've put a TIF in place, they want you there as much as you're wanting to be there.  Don't be so rigid that you can't get a deal done.  Good luck with it!