All Forum Posts by: Derek Daun

Quick follow up.

The inspection went well without any problems. He called me at about 9:00 saying he was in the neighborhood, and offered to meet me then or he could go to another call first.

The inspector was very casual and just kind of walked through the house without looking at anything that close. He did point out a couple of minor things I should fix, but didn't write them down as violations. I'm beginning to agree with other's opinion that this might be more about just collecting fees than anything else.

Another quick question.

Will they call you when they're going there, or do I have hang around my rental during the 4 hour window waiting?

@David Hutson

Is the self certification only an option after the first inspection then?

I have my first inspection scheduled by the city this week, and I was wondering if there are any particulars I should look out for. In general, I keep my properties above and beyond the city's standards. Based on the provided checklist I don't think there should be issues, but I thought I'd get the opinion of anyone who has gone through this previously.

Additionally, does anyone know how the self certification process works? I've seen it referenced, but have not been able to find any particulars.

I can't make this one; I have reservations in Yosemite that weekend.

Sounds like a great event.

I like the idea of moving the water and gas lines.
Alternatively, is there a way of dressing up the entrance hallway so it feels like a mud room / foyer? It's always nice to have a place for winter boots, jackets, and what not.

I'm another Oak Park investor, however, I wouldn't consider the current market as really being 'cash flow'. The prices in the areas that can actually demand decent rent with good tenants, appreciation, and likely gentrification are now priced such that I aim for cash neutral strategies. (A couple hundred bucks a month over the escrow and water bill). Unless of course, you're sinking a lot of money down in rehab.

There are still cash flow opportunities, but these are the type of low end properties that really require the owner to work to make the money. (lots of turn over in low income areas).

The highest ROI areas will be the gentrifying locations though, like @Joe Bertolino mentioned. You better know the area though; I've seen lots of sucker properties go high dollar recently.

That might be a little hard to get that much in rent for that small of square footage. It's probably not impossible though; I'm not super familiar with that area.

The supplies for concrete counter tops are cheap, but it's fairly labor intensive. If you do it yourself, it's cheaper than paying someone for granite. But it's a lot of time and energy. I did it for my own house, but would not consider it for a rental unlessI've reached the point that I've quit my day job and have completely different time/value calculations.

+1 for luxury vinyl plank.

I'm considering doing a dining room to bedroom conversion for my next project. This type of remodel is only useful in certain types of neighborhoods, mainly ones with lots of older 2/1 with a premium for 3/2 or 3/1s. Additionally the sqft has to be big enough to start off with. (> 1000sqft) My last purchase had this type of conversion done by a previous owner. I'm not actually a fan of the layout, but we didn't even notice the lack of dining the first time we looked at the property. (It dawned on me later that night)

To me it only makes sense as part of a larger remodel project, though, where the kitchen needs to be get ripped out anyway. Most likely, you're not actually converting the dining room into a bedroom. You'll probably be using the space where the kitchen currently is as the new bedroom (with sewer and water possibly in place for the en suite), and then converting the dining room/living room into an open concept kitchen, dining, and living area. Yeah, people do make direct dining room to bedroom conversions, but I have yet to see one that I actually thought added value to the house.