All Forum Posts by: Kris Mcfarlane

I'm in Abby and we were 2000 a mo positive on a pp of 730 and they didn't even look inside to rent, were 300 a mo + on a apartment for 230 and than heavier on other properties.

To add a room to make more money yes, liability no. Adding a room you can do cheap, 200 seems a little shy. If you want to make it half decent 2000 you can make it nice. A door alone is 115 bucks for a six panel. Make the layout functional but if you just want that rent money than throw a room in there. 8x11 takes a single bed. That's coming from a carpentry instructor, j/man carp, etc etc.

Welcome to the forum - it's a ride that's for sure! Check out there addendum s on there site. There mint!

Check out Annawhite.com great tutorials, etc - coming from a carpentry teacher.

I'm a carpentry teacher from Canada, my suggestion learn construction at a young age - understand the basics and go for a value add, with the plan on renting it out if it goes south. Win on appreciation, win on the value add and buy in a good school district. What I tell my students is what works for me doesn't work you you as we all have different skill sets. I go high value in a good area.

Welcome to bp although I am not a cpa I am a carpentry instructor at a local college in the lower mainland. Feel free to shoot me any carpentry related questions if you may have them. Cheers

My own experience I agree with the a plus rentals, my background is high income earner as well as well as being out of town for 3/4 of the year. A + rentals attract a-b tenants.

Very strong opening paragraph - well written!

My understanding is you can pull up to 80 percent of equity on your primary residence and as long as you have 20% on the property you are buying your able to easily qualify there are also lenders that will lend at a higher interest rate but don't care about recorded income. A mortgage broker would obviously know more than I would though.

Value your contractors time, a case of beer goes a long way or a gift card to a nice restaurant.  You can also get a general price before a bid break up, sending pictures over text/e mail works for a general price to get you in the ball park. This business is 100% about relationships.