All Forum Posts by: Cheryl James

Thank You @Ronald Starusnak and @Dillon Nash

Thank you @Kyle Affronti.  I thought that was the case  and it makes those deals somewhat less appealing in terms of getting your money back out.

I understand that the landlord-tenant laws in NY were changed last summer, is there a limit to the amount of a down payment you can get if you are selling via rent to own?  Thanks in advance.

@Gabriel Petsios, it is an option sometimes used by up and coming chefs.  They find a place to host an pop-up restaurant.  I remember seeing a show about a chef in Toronto who got started that way.  It was cheaper for him than buying a food truck. I think they have been very big in NYC.  There are some places that are available to lease solely for that purpose in the big cities, like San Fran and others.  Take a look at this for some ideas on venues that are on the market  https://www.appearhere.us/destinations/collections/food-residencies-075a0e84-b4c3-414f-bb3b-09a0588e0c17

I think you somehow misunderstood something you read.  I was speaking of my grandfather as an actual person.  And yes, of course, building permits and stamped plans are required.

@Jared W Smith Thanks for your input as I'm sure you know what you are talking about.  There are plenty of houses here on slabs and there are a lot on the lakeshore in particular that were built on pier foundations.  Perhaps the building codes have become more restrictive over the years.

My grandfather built three homes in my lifetime.  Two of which had full basements.  The third, also the most recent one was built on a slab.  We also have many Amish family contractors that have completely changed the landscape for building in our little small town community.  They have driven the price of land up and the cost of goods and labor down.  I guess like anything else in this world ... you don't know until you know.  I will definitely work on getting my hard and soft costs down on paper before I jump in.

Hi Rika, I have arrived here just shortly before you.  I also work in Medicine at Strong, although I live further West and commute in every day.  I have past experience with real estate but am just now getting back in after getting burned pretty bad in 2008/2009.

So I just wanted to say Hi and wish you the best of luck.  Maybe our paths will cross in real life sometime.  Sounds like we're both in a great community here.

@Debra A., Long Island is a whole world away from this part of New York.  But I may hit you up at some point.  It would probably be late winter or early spring before I am ready to move on this.

70K I think is absolutely doable if you look at things a little more broadly.  Although I may have underestimated the foundation cost a bit.  Even if it is 80K, it wouldn't really change things all that much.

33K for a kit home shipped to site.  10K for slab foundation. 10k for heat, electric and plumbing. 8k for roof. That leaves 9k for kitchen and bathroom (small galley style kitchen).  I am looking at a simple 980 square foot open floor plan with a loft.

I would hire out the foundation, the plumbing, heat, electric panel, and roof. 

Thanks for the input @Tarik Turner.  That sounds a bit more complicated than I thought it would be as I don't have any experience.