All Forum Posts by: Shawn Pottschmidt

Just out of curiosity, what home style I.e. one story ranch , tri level, cape cod etc. is your favorite to refurbish and why?

Great points to keep in mind.  Thanks for everyone's input especially burning down the house.  Obliviously some things need to follow code.  Just out of curiosity, what is the requirement for smoke detectors nowadays? Do they need to be hardwired on a designated circuit or battery powered?

I'm just starting out and need a buffer on estimating my costs

I read a lot about hiring a contractor.  Has anyone ever calculated how much they saved by not using contractors and did most of the rehab work themselves? Or the real question is what percent of costs is going to contractor labor?

I was thinking similarly that if I work backwards then some unknowns would be answered. Knowing the rental rates in various neighborhoods is a good starting point.

I am researching as much as I can on the ins and outs of buying a single family home to rent. There is so much information available that it has become overwhelming. Can the successful and not successful people out there give me your best piece of advice. Note: I plan to put in some rehab such as bathroom, kitchen,floors, trim, basically stuff that I'm familiar with having been a home owner for twenty years. Thanks

How do you refinish wood floor without sanding? By just going over with a coat of poly?

Greg

That is the best answer anyone has ever given that makes the most sense.  

I"m going to dig the box out of the basement this weekend.

Take care

Happy Holidays

Shawn

I have a Roth Ira and want to take my money out to fund my house purchase and fix up.  I only plan on taking out the money I have contributed (already paid income tax on).  I am pretty sure I can do this.  My problem is that I only have statements proving 2007 to current.  The bank only maintains records for 6 years.  I do not have physical proof of depositing money before 2007.  My 2007 December statement says beginning year balance of $22,000.  So I started 2007 with 22,000 and for sure some of that was my contributions.  I might raise some red flags with the IRS when I take a huge distribution. I have proof in statements of most of the coin.  Am I screwed on the 22k and should just leave it? You have to assume I at least put in 5k before 2007

Write your post