All Forum Posts by: Matt Clark

Please join us for the monthly Roanoke area real estate meetup.  Our speaker this month will be Chuck Neely, CPA.  We'll be at the Grandin CoLab in Conference Room B as usual.  Bring a friend/colleague!

Jessica Vollendorf we do that in VA and call it an "Amenities Fee." But you could probably call something else unless your state's regulations prohibit. Just make sure your advertising and lease language is clear about exactly what is included.

That price doesn't sound out of line, but hard to say without pictures, scope of work, etc. The demo and disposal costs for that type of job are more expensive than one might expect.

I second what Chris said. The tub repair guys can work magic, and the repairs usually blend in and you can't even see them. I've had probably 20 tubs repaired, all with great results.

Please join us for the monthly Roanoke, VA meetup, open to all levels of experience. This month we'll be hearing from attorney James Steele.

We'll be meeting at the Grandin Colab, 1327 Grandin Rd., Roanoke, VA 24015. You'll find us in Conference Room B, along the left side about halfway to the back of the building.

See you soon!

Just make sure to comply with the building code in your jurisdiction. In most places a room must have an egress window and a closet to be considered a bedroom. And if you add a bedroom to a house that has a septic system (vs public sewer) you might be required to enlarge the septic system. These issues usually come to light when you sell the property or have rental inspections, and in some jurisdictions they can become a huge headache.

Tractors are for farmers.  A mid to large size skid loader will be exponentially better for site work, and you can rent many different attachments like trencher, mower, backhoe, etc.  Have fun!

I wouldn't do it. Two sinks in a 40" vanity sacrifices too much countertop and drawer space.

The whole point of a consigner is to guaranty the lease for someone whose credit is bad. Just get an application from him and if his credit is good you can move forward with the lease. We require a cosigner to have verified monthly income at least 5 times the rent amount. When the tenant fails to pay, the cosigner steps in to pay.

Of course I know nothing about your market, but several things come to mind right away.  First, I've never spent as much on a lot as I did for the build.  The land cost sounds to high for your intended purpose.

And second, there will be costs not included in the builder's quote, which sounds very bare-bones.  But assuming you could be all in for $324k, a GPR of $2700/month would be break-even at best.  I imagine maintenance, vacancy, and management costs will put you into negative cash flow.

I think you can do better with that money.