All Forum Posts by: Account Closed

glenn, looks great! what paint color is that on the interior walls? can you get into the extra cost to go green, and what you think it'll add to the sales price vs. if you did a regular rehab? personally, i'd probably square newel posts since you have a craftsman bungalow...I do love how you hung the address numbers. can you provide a close up pic of that? congrats and good luck on a quick sale!

Good advice above. I thnk 65/ft is very optimistic. A problem I see with a lot of these additions, is that people take an old 2/1 (with small kitchen and living areas), and add a master suite. Now you've got a 500k home fit for a family still with tiny living areas and kitchen. I think it's difficult and expensive to really get in there and rework the layout of the original structure to get max out your retail value :)

Welcome to BP...I spent a summer in India back in the day...very hot :) I'll be at the meeting tmrw as well..hope to see you there!

Jon, the CPA that explained it to us in a meeting mentioned either 1031ing for a while, and then selling this particular property at a loss, but still owing lots of taxes from deals past. Or, having depreciated a property so much, and upon sale, having to recapture that depreciation. Big surprise for some people he said!

Jon's right. They can pay the difference at closing, but there will be closing costs, maybe agent commissions if they or you are represented. A CPA just detailed an example for me of how people may sell their house for a loss, yet still owe taxes on the sale as well. How bout them apples??

For a rental, I can get the place cleaned very cheap. For a retail sale it's usually more of a mess. First, it obviously helps if you require your subs to clean up after themselves each day. I learned when I started that you have to actually say this, or they'll just leave their crap around. :) Usually, the intense rehabs are messy due to sanding the harwood floors down, so there is dust attached to every piece of molding. Then again, usually all fixtures, tubs, toilets, and applicances are brand new which makes it pretty easy. Given that trade off, I usually pay between 10-12 cents/ft depending on just how bad it is.

Asher, I just responded to another thread, but Justin brought me in here too..if you wanna chat about any opportunities or areas, I'm not expert, but always happy to throw in my 2 cents :)....BTW thanks Justin S.

Asher, I'm in charlotte..if you wanna chat about it, send me a message...I agree with Jon...I like the price/ft until you get to a point where the neighborhood just won't support too high of a number (even if you happen to have a huge house). Sounds like you may be there. I may know the area, if you wanna chat..good luck :)

This has happeend to me a few times as well..i hate to say it, but i think a few have slipped through the cracks as well..part of the business i suppose

hey jon, i temporarily gave up on blogging...uploading photos was too much of a pain...i'm sorry to be such a slacker :) i'd like to resume when time allows, but i've been staying busy :) are you on facebook? i've tried to keep a quasi-blog over there as well