All Forum Posts by: N/A N/A

Labor almost always costs more. For example, I put ceramic tile in my kitchen, dining room, and hallway. Total material costs were about $500. I was quoted a LABOR charge of $2200 to install, bringing the total to $2700.

I laid the tile myself. LOL

That place looks sweet!! Awesome job!

My entire house is tile. It can get quite cold, so I just walk on the rugs instead, LOL.

I hate carpet in the basement (we've had flooding issues). I'd say either a good vinyl or painted concrete. Stained concrete looks awesome but may not be in the budget. Probably the cheapest option would be vinyl but tile definitely would give you more back when you sell.

this? We have the opportunity to purchase a house in need of some serious TLC for an exceptional price. It's in a residential spot in town, close to everything, and the comps. in the area show this house could (when rehabbed) sell for a fairly nice profit. BUT...

would it be wise to remodel the house and sell it outright, or remodel the house and rent it out? We are awaiting the realtor info for this house and will take our contractor when we schedule an appointment to see it (and a home inspection). It needs a new roof and a bit of cosmetic work, but the house seems stable (we'll find out for sure in a bit).

I suppose, if you were in this position, what would make you decide to rent it out versus sell it? I'm thinking selling because we would be able to cash in on the profits and keep it for our next deal. Any input is appreciated.

My attorney actually raises alpacas. He started out maybe two or three years ago and probably has 15 animals. I don't know exact pricing, but I've heard of some champion male alpacas going for over $250,000 (but most from 5k to 40k, depending on the animal, characteristics, demand, etc).

Unfinished alpaca fiber (it's hair you shear off) goes for about $2-$5 per ounce, and once it is finished (cleaning, spinning, etc.) it can easily cost $10 or more per oz.

Alpacas generally don't need much land or fencing requirements and seem to be fairly easy to care for.

Here is a good website about general info: http://www.alpacainfo.com/mediacenter/faq.html

http://www.ilovealpacas.com/investment.shtml

There is a lot of more in-depth financial info on Google (type in "alpaca" or "alpaca farm").

Hope that helped some!!

This is something I am extremely interested in. I love going to farms to see what nature has to offer. I know of many types of farms (not organic) in the area (NW IN) that offer maze rides, pick-yourself-vegetables, they sell small decorations, big inflated jumping things for kids (can't remember what they are called, LOL). They are like small fairs or carnivals! Huge market for those. In addition, organic farming is much better for the earth, typically healthier, but is a bit more intensive work wise. Organic products sell for more and more and more people and businesses are interested in using them. I'd love to do something like this too!

Excellent dialogue, guys!! Very informative. Thank you. :D

Thanks EZ. I appreciate it.

LOL.... well I guess nevermind.

OK, I guess my first post was hard to understand, lol.

Basically, what do you subtract from your "net operating income"? Mortgage, insurance, utilities, office supplies, etc.? Or do you typically just subtract office supplies or the cost of a contractor to fix a leaky toilet form net operating income?

Because on the program I used, I withdrew all expenses directly from the rental income, and I consider what's left to be the net operating income. I don't take the rental income, withdraw mortgage, and then withdraw the rest as a part of net operating income. I basically consider the net operating income as my profit before I take the taxes out of it.

Does that make sense?