All Forum Posts by: David Silver

@Josef Bryan Gerster the place looks great!  Are you using a pricing software?  PriceLabs has worked well for me, but there are many options.  

If this were my listing, I'd: 

1. Give a discount to book in advance, as well as a weekly & monthly discount. This would be an awesome spot to work remotely, and you could get a month+ booking.

2. Lower the price for the weekdays, and perhaps raise the price on the weekend. I like the pricing suggestion from @Jon Martin , as well as the budget design tips, I do think they help.

3. Change your cancellation policy to "Flexible & Non-refundable".  Add a "Long Term Stay Policy", so a long-term guest would need to cancel a month ahead.  

 @Shawn P Kontrec I think this is a great way to get started.  If the home is on it's own plot of land (outside of a MHP) and they've been set on a foundation with the tongue and wheels removed, a potential buyer can get them financed.  Check out the BP podcast, show 851.

Good Luck!

 @Feodor Klitsuk I like Simpli Safe.  I agree with @Joel Bongco, that flood light with camera outside and on interior is a good idea.  I also use "Enbrighten", it's a wifi connected plug switch.  You can buy them at any big box store.  I plug lamps and TV's into them and you can turn it on and off remote.  I also leave the porch light on.  Additionally, I introduce myself to the neighbors within 2-3 houses and explain what I'm doing.  They have always been appreciative of the dilapidated house being fixed up and this has probably saved me as much money as any security system.

@Laura Kusto

Yes, HVAC (main unit) is commonly installed in the attic in southern states. It operates the same as if it were in the basement/crawlspace or a closet. 

The A/C condenser is installed outside, like the common practice elsewhere.

@Kenneth Hynes

If the wood is in good shape and you are doing the labor yourself, I believe you will get the best value by refinishing the floors. It’s a lot of labor, but low material cost. For your first venture I would recommend a random orbital sander (not a drum) and use all the levels of grit, don’t skip grits.  Water pop the floor, stain once and poly coat two (or three times for durability).  You can hire someone to do all this and it will probably still be less expensive than LVP. With a rental, it may need to be refinished in 10 years.  I think it makes the highest class product of the three choices. 

The benefit of LVP is that you lay it one time and it never needs to be refinished. It does get scratched, but doesn’t matter for a rental, it still looks good. You can install it yourself as a first time project it’s relatively easy.  It’s also a good choice. 

Carpet is the quickest and cheapest up front.  You can install it yourself, but installation is very affordable  with a professional. I think it’s the worst option overall, because you have to replace it every few years and it holds water and smells. But it’s quick!

@Reginald A. Shelby II

Working on your own property gives you increased familiarity and confidence in the product of Real Estate. Your sweat equity is also an investment. Once your time becomes more valuable than hiring the repair then it is economically more efficient to hire it out with a GOOD QUALITY contractor. You can repair it if you enjoy doing it, and contract it out if you don’t.

@Dylan Barnard You want to get a plastic bristle for sure.  I have the “Dr Brush” set (type “drill brush set” on amazon).  Also, if the stains are on a vertical surface; you can put CLR in a spray bottle and spray/paste paper towel on the stain. Let it sit for at least an hour. Spray every so often. If the stains are in the tub, fill it up with CLR and water and let it sit overnight. 

@Dylan Barnard CLR is a good product (as others have mentioned). Flitz makes great cleaners that are paste so they can stand on upright glass for awhile before scrubbing, letting the chemical work instead of you.  Flitz products are more expensive than most ordinary cleaners, but they often work when regular cleaners won’t.  West Marine is a last resort (everything is expensive) but they have a wide selection of boat cleaners that are more serious than regular cleaners from Walmart/HD/Lowe’s. 

Before cleaning again, I would buy a plastic bristled brush set for a drill. You can buy a set for less than $10 off amazon. It will be able to scrub much more aggressively than you can by hand. 

@Jia Liu Termites are probably the most difficult pest to understand fully in terms of damage. It can be difficult to estimate. 

I PM you if you want more information. Good luck!

@Jia Liu I would trust the expertise of your inspector. That’s what you’re paying them for!  Don’t pay attention to anyone working for the seller, that’s just noise. I would also get another opinion. 10k-100k is a huge range!  As a buyer, once you’ve discovered termites you have the right to cancel the contract and get a full refund.  Because of that fact, you have a lot of bargaining power. 

In my experience, termite damage is always worse than imagined looking at it from the outside. Because it affects framing, it affects most aspects of the home construction. If you have to reframe a wall, you will have to put up new sheetrock, trim, paint, etc... so the costs escalate quickly.  I would expect the damages to be on the higher side of the range. 

On a positive note, if you get the house on a discount, you may have a construction budget to rebuild it as you want and improve the value. This could be an opportunity to add a bathroom or bedroom for example!