All Forum Posts by: Bruce Woodruff

No Heloc for sure. If you want to preserve some of your cash, check with Lowes. You can open a credit line there and get an additional 5% off of your purchase. They have installers as well.

Take a look at Engineered Wood floors since this is your personal residence. Just a little bit more but so much nicer in both looks and resale value....

I would work on credit. GEt some Credit Cards, spend a little every month and pay off, then get higher limits and repeat. Buy a few things on credit that you would just usually pay cash for.

I personally would not rush into a Heloc or such. You sound like a free-spirit and sounds like you want to travel and be unburdened....I like the RV idea, as well as the settling in Nashville eventually... (great town!)

You have plenty of time, don't rush this, enjoy yourself!

Quote from @Nicholas L.:

Anyone have a real estate related prediction?

Finally, back to the topic, whew....Well although not any kind of expert, merely a long-time spectator and participant, here's my humble take...

The economy takes off to higher levels sometime later this year as the new policies (and tariffs) kick in and we regain the US economy and stop throwing money all around the world. Infaltion returns to 'normal' levels, partially due to the renewed energy push.
Now to the real question for all of us - Real Estate (and interest rates)....The market should/will pick up as interest rates lower to around 5% by years end.

There. I said it. What does anyone think?

Quote from @Steve K.:

Steve, stop the TDS. Most of your 'facts' are old and disproven anyway. He doesn't pay Income Taxes at all, his money is all derived from these things we call 'Gains'. He pays millions per year in taxes. Surely you get this.....

We know you don't like him, but this topic is not about who Steve likes.

Quote from @Daniel Suarez:

Quote from @James Hamling:

Quote from @Jay Hinrichs:

Quote from @Dina Schmid:

Quote from @James Hamling:
Where are you getting this number? It's been widely reported that 73% of people think Trump is doing what he said he was going to do, but he's underwater with his approval rating. 51% disapprove (1ith 40% strongly disapproving) and only 47% approve (with 37% strongly approving).

He has a favorable approval rating of less than 1/2 the US. That's far from 73%.

https://www.pewresearch.org/politics/2025/02/07/trumps-secon...

its 73% of republicans I suspect that is where that number comes from. 

I ask "Professor Google" the question, and it spits out a recent Gallop Poll and it says 73% approval rating. 

Maybe I'm ignorant but I'm not aware of Gallop being some propaganda machine for any political party, I've heard there polls cited for as long as i can remember, and have heard mentions of this in news. NO not just R news but CNN and L leaning so I had no reason to doubt it. 

It didn't say 73% of red-necks, or any selective segment, just said 73% approval rating. 

 Gallop Pole actually shows 47% approval rating (as of Jan 21st)
FiveThirtyEight shows 49%

The month after Biden was inaugurated his approval rating was 57% also according to Gallop

Trump's latest topic specific ratings, like immigration, economy, etc.. (from today on ABC ) are all in the 60%s and 70%s. Get your numbers straight. Even the Libs are beginning to understand...

Be very careful with these types of homes. They may be non permitable.

check with the local city or county before you get into it where you can't get out.

You will probably need to stay for 2 years to avoid Capital Gains. Unless you sell for what you have in it, and break even? What does your Realtor say? Ask another as well to make sure. 

If it really is untenable for you, then take the loss. You could build a block wall like they do on freeways, but why put a bunch of money into the place? You'll probably always hear the noise now that you know about it.....

The age when houses were built is of some importance for sure. You certainly need to think about it when one is from 2006 and the other from 1950, right?

More importantly is the area and amenities IMHO...

Quote from @Jay Hinrichs:

Quote from @Bruce Woodruff:

@Caleb Melton said:
One of my first real jobs was construction cleanup for a contractor building an entire new subdivision. The Mexican crews were indeed very fast. We also had to tear out a d redo half of thier work and they all got fired.

Yeah.....been there done that. I've lost money tearing out shower tile that was just not quite right. So you apy the first guy, fire him, pay a demo crew to remove all his work, then pay for a real craftsman to do it right. That's smart business, right?

There are still good craftsmen out there, both Hispanic and Anglo. But guess what? They charge what they are worth......and they are busy.

my tile guys are are eastern block dont speak English either at all or very good.. And they do wonderful work  but even they F it up sometimes and have to redo.. but they tear it out on thier time/dime and replace  IE warranty their work .. And they come back in the first year and do any touch ups or when house settles they come back and recaulk this is included in their bids .. 

 You're lucky to have those guys! I have usually had the best tile guys around, but this one time everybody was too busy to fit me in (it was a last minute job) so I stupidly used this crew of 'legal' Mexicans who sounded good. And they had pictures of former work that looked good too. But this shower was a super high end, beach entry with a ribbon drain, way over their heads. My fault, I shoulda known better and just waited.

Simple, there is only one way to do this....First you need to get a solid ARV number. Then get a GC to give you a tight proposed budget to restore this old beauty back to it's former glory.

This sounds like a $200k - $300k remodel at least. So if the house is worth $500k once finished, then I'd go for it.....

But first, talk to a Realtor and a GC.