All Forum Posts by: John Carbone

John Carbone has started 38 posts and replied 1080 times.

Hey @John Carbone, I don't think you are limited at all. It is a pretty big space so you can fit some stuff in there. I guess I can't really comment unless I can see it.

Do guests have to go through that area to get to the back yard?

Another thing you might want to think about, put in a glass garage door. Make it open up so you get that cool vibe in the game room. You could change out the overhead door opener with a jack shaft opener on the end.

I don't think that the bunk beds would be odd. Our bunk room is on the bottom floor of our house. It has a main entrance to the house and a lot of guest go in and out through there. Never had a word about it.

So it’s not the only access point, but it’s the only way to get to the hot tub and deck from inside the house without going outside the front of the house and walking down the ramp to the side yard. Is the bunk room in the same room as the game room?

0 Votes

Quote from @Michael Baum:

I love what @John Underwood said. Make it a kids space for sleeping with 2 bunk beds in there then game it out.

If the garage is on the smaller size, I would add a 3-1 bumper pool table. We have one in our living room and it gets used a ton. Gaming, poker and bumper pool. Much smaller than a full size and just as fun IMHO.

Once you get the garage setup you can setup the small game room with a queen bed and outfit it (assuming a queen will fit OK), and that means more revenue coming in.

What are the dimensions? Post some pics man!

Wasn’t thinking about the dimensions when I posted, but it’s a 14x22 (just a 1 car garage). I’m getting the garage door and motor removed, and insulating this area. On the outside I will be doing new exterior log siding so it will match from the outside. I’ll probably be doing an accent wall in the spot that gets filled in where the garage door is at on the interior.

the garage area has an access into the house and access out the back to the deck and hot tub and patio and side yard. I thought about adding twin over twin bunks but I thought maybe it will be odd with the flow of people going through this new room to access the outside amenities,

how much am I limited with this size garage?

0 Votes

Quote from @Carlos Ptriawan:

Quote from @Mel D.:

Quote from @James Hamling:

Quote from @Chris John:

@James Hamling

You've definitely made some compelling arguments throughout this thread. However, I've gotta quibble a little with this statement:

"When you buy a home, do you own the home? No, in 99% of cases no, the BANK does, and your a tenant to the bank are you not?"

The real owner of all the houses is the government in the form of property taxes. Even if you don't have a mortgage on your home, you still don't actually own it and never will. Uncle Sam sees to that.

On land side, 100% Chris, your spot on, one NEVER actually "owns" that land as long as someone else has a position of control over such and rights to receivership regardless of the red-tape to do such. Although this is a point of semantics because there is no change of such, never has been never will be, it's a necessary mechanism of society.

When a person takes $ from a bank, to buy a home, that is the Bank "owning" that real estate. A person has a option to own that real estate once they perform on that note with the bank.

There is a education deficit in the U.S. where people like to lie to themselves and say they "own" that property, which they just paid 3.5 - 20% upon.

Think on it, what is renting out a property? We give a person use of the property in full, in exchange they must make regular payments and maintain that property to a set standard to retain that usership right. And this is given, at profit. Ok, now when one "buys" a home via banks $, on must do the exact same, and again, for profit to the bank. Yes, your a tenant to the bank.

You have to think big picture to comprehend how these elitist view the world and structure of things. When they say "you will own nothing, and be happy" most put it in there personal "box" of life and scratch there head picturing some entity coming in and taking all real estate, all assets, and making them lease everything. No, you have to jump into there shoes to comprehend.

Those who FUND the purchases, control via lending mechanism, THEY own "everything" do they not? And when a person get's that home for 3.5% down, are they not "happy"? And completely ignoring the fact they will be paying that bank 2X+?

Auto loans are now commonly going 7+yrs, that was once unthinkable, especially with people cycling autos on average ever 5yrs. That makes for perpetual debt, which is NOT owning anything, just purchasing usership rights. Expand home mortgages to 50yrs and you get the same, lifetime debt.

People are happily moving into perpetual debt service, and doing it with a smile because they "feel" they "own" those things because they "own" the use and responsibility of it.

I see this same mindset in my long-term tenants. Once in a home 10+yrs, they say "my home" and act in ways that they own it. I like this, heck I encourage it, because it makes me a bunch of $ and I love them accepting on the responsibility and care of my assets, that I allow them use of, at profit.

So instead of educating people, you smile as you profit from their ignorance? I'm not disagreeing with the logic but that statement is trashy. Pretty bold of you to make these statements but I see that its on par for someone like yourself who can't participate in a basic debate without becoming unhinged. From your responses I can see that you have a major character flaw. Simply admitting that you misinterpreted data would have been leaps better than you conducting yourself so poorly in this thread.

My question is why do you care so much about James opinion ? LOL

even Fed chairman is having different idea of what’s going on LOL

I see this one as the best opportunity to acquire property and I don’t need people opinion to validate my approach

I have been anti BP advise for long time anyhow LOL

I just simply fire back at people like James. I agree with a lot of what he says long term, but his ego is the biggest I’ve ever seen on BP so I’ll call him out on his BS.

1 Vote

Dallas, Texas

Quote from @James Hamling:

Quote from @John Carbone:

Quote from @Nicholas L.:

@John Carbone

are we actually all that far apart in terms of predictions for what is going to happen? to be clear, @James Hamling thinks prices are going to come down - here's what he said:

"there could be a national average consolidation of as-much-as 15% step back in median home prices. This is a consolidating event NOT collapse, crash or "correction". And there WILL be localized market specific deviations of this. For example CA, in the negative or FL in the positive. Again, specific to and coming from specific factors unique to those specific markets..."

so - do you think prices will come down even further than that?

are we still disagreeing about what "crash" means 10,000 posts into this thread? =)

@James Hamling is waffling all the time and changes his prediction like the weatherman. I get it, circumstances change so you need to adjust with the market, but it’s easy to change predictions after stuff already happens. He’s very inconsistent on his prediction, we did a yin and Yang analogy on someone buying 3 months ago vs someone waiting until end of 2023 to buy and he was saying how great it was to buy then at 7-8 percent interest. But yes, if he truly believes now 15 percent correction then that’s in line with my 20-30 percent. My whole point has always been there’s no rush to buy after the fed raised rates. At a minimum prices will not be going up so you are getting a freeroll waiting to see what happens for 99 percent of deals. 20-30 percent correction. My new word will be correction going forward to appease the rulebook Larry’s on technical definitions.

There is no ends to your lies, misrepresentations, distortions and out right FRAUD.

Please explain, everything I’ve said is factual. My timeframe has always been end of 2023…

By true definition you are right James housing won’t crash, but it will decline by 20-30 percent by end of 2023 as I’ve said from day one. How are ying and Yang doing? I found my guy a killer deal on a rental to ride 2023 out

1 Vote

Dallas, Texas

Quote from @Ken Boone:

So the game room option is the easiest. You could have a fantastic game room in a space that big. However, I would consider putting an indoor heated pool in that space. I have seen a few builders go back and do renos on garages and install pools in that space. The one builder that I know did one of these pools last year, I would never use so you might have to call around to find someone to do this, but I know it is very doable. Your ADR will increase significantly with an indoor heated pool. That is 100% what I would do no questions about it.

What kind of roi would I be getting on it in your estimation? My average nightly rate is $300, my guess is the cost to do something like this 100k plus? And then I’ll have higher insurance premiums and more maintenance. Do you have any numbers on how much more revenue a heated indoor pool does in the smokies? I assume these are above ground pools?

0 Votes

Quote from @Nicholas L.:

@John Carbone

are we actually all that far apart in terms of predictions for what is going to happen? to be clear, @James Hamling thinks prices are going to come down - here's what he said:

so - do you think prices will come down even further than that?

are we still disagreeing about what "crash" means 10,000 posts into this thread? =)

1 Vote

Dallas, Texas

Quote from @Greg R.:

Quote from @Mel D.:

Quote from @Greg R.:

Quote from @Russell Brazil:

The Last 2 housing crashes were 75 years apart. They are incredibly rare occurrences. Each of which were largely driven by a lack of the availability of credit and debt.

Not only do we not have a lack of availability and debt, we have 100% exactly the opposite problem. A rapid increase in the money supply in Spring of 2020 has created large inflationary preasure. This has happened before in the early 1970s. The same result that happened then, is happening now....high inflation. High inflationary environments typically take about a decade to work themselves out.

You are welcome to form your own opinions, but the only market crash we need to look at is 2008. The economy, geo-politics, property rights, regulations, taxation, investing, banking, the stock market, and currencies (to name a few), were completely different "back in the day". Credit scores weren't even a thing until 1990. These aren't the same times when grandpapi was paying $.05 per gallon of gas. Makes no sense to look at ancient days when trying to analyze a modern-day housing crisis.

And yes, in 2008 we know lending was lose, there were appraisal problems, etc. But there are also similarities. In addition to those similarities, there is a new set of problems associated with the upcoming crash.

With that, I believe that we're going to see housing market crashes on a fairly regular basis going forward. not every few years, but definitely not once every 75 years.

I wonder what they have to say now, four months later, given these changing prices? Look at Arizona, Boise Idaho. Factor in the recession, tech layoffs. I just wonder if we are at the top or mid stages of a correction

Definitely at the early stages. Prices have come down some (really depends on locality). However, we've seeing the bottom fall out of sales volume, which happens before price drops. Plus, I don't see rates easing any time soon. If anything I think we may see J Pow raise rates some more. He recently said that the US housing market is in a bubble. He also said that the housing market needed a "difficult correction" and "reset".

I just don’t understand why someone would want to bet against the guy in charge of raising rates. The auto market has already rolled over and may even be in “crash” mode. Lumber prices are down now and it’s being reflective in the cost at the lumber yards now. A contractor I know has a full calendar open for the next several weeks with no jobs. I’m taking advantage of this opportunity and expanding my property with the cheaper lumber and lower rates for the carpenter. I even called around to get an asphalt paving on a super long driveway, 6-8 months ago I had quotes for 40k, called back same people they were at 33k, and I ended up getting another one to come back out and they quoted me 22k…..a full almost 50 percent drop from last spring. It’s obvious to see what is happening…. Higher rates means no more helocs to do expensive home improvements or new purchases and big ticket items on vehicles. Powells high rate approach is working, it’s taking time to fully reflect in home prices (which ARE dropping) but the full drop is in sight, the foundation is cracking and it’s very obvious to see it. The longer we stay at high rates the more cracks we get. We have hit the iceberg, but @James Hamling is in his presidential suite (financed with cheap fed money over the last decade) and is still drinking the spiked kool aid unaware what’s happening in the basement.

1 Vote

Dallas, Texas

Quote from @Collin Chan:

We turned ours into a large game room. Exactly as @Nathan Gesner stated with a 5 in 1 game table (usually set up for foosball), dart board, and overall hang out space. It still has a garage door but the previous owner had it fully conditioned and put insulation panels on the garage door. It's attached to a bedroom that we have a bunk and queen in already so the game room is a hit with families and we've been booked at 97% occupancy for the last 3 months with March already 80% booked due to the family friendly vibe.

Do you have a link to the listing?

0 Votes

Quote from @John Underwood:

Game room would be cool but I think best ROI would be a bedroom. You could make it a game room with a futton, bunk beds, pull out couch or Murphy bed and have the best of both worlds.

I like this option. I’ll see what I can work with on space to see if it can get it all in there.

0 Votes

Have a 4 bed sleeps 9 with an attached garage that is already fully insulated with electric/windows/and two entrance doors. When you are in the garage it has the same walls as the main living areas, so apart from the concrete floors you couldn’t tell it’s a garage. I’m getting no real use out of it in the rental. I have a spot I can add a mini split for heating/cooling.

Undergoing a renovation to remove the garage door but I can't decide what the best use of this space will be for a STR. I already have a small game room with 2 arcade games.

What will be my best ROI? The place is only a few years old so everything is pretty well updated.

0 Votes

← … 34 35 36 37 38 39 40 41 42 43 44 … →

All Forum Posts by: John Carbone

John Carbone has started 38 posts and replied 1080 times.

Post: Advice on utilizing insulated garage

Post: Advice on utilizing insulated garage

Post: Housing crash deniers ???

Post: Housing crash deniers ???

Post: Advice on utilizing insulated garage

Post: Housing crash deniers ???

Post: Housing crash deniers ???

Post: Advice on utilizing insulated garage

Post: Advice on utilizing insulated garage

Post: Advice on utilizing insulated garage