It's landlords like you that enabled me to raise my child on minimum wage without the need for assistance. Sound like you are doing great work :)

@thehomesteadcraftsman8975

7 жыл бұрын

Well you've got a good way of looking at it. A lot of people would say the opposite. I think it comes down to some people expect too much from people that don't own them anything. Most of this is due to them making assumptions about things they have no experience in. Glad you are able to make things work for you and your daughter. Thanks for watching.

@mechinizer6911

7 жыл бұрын

Actually, when you rent a house to someone, the second you take their money or sign a contract, you do owe them something. You owe them a working household to the very standards of the law, just like they owe you rent. If you're always looking at your renters like you don't owe them anything, you might actually be breaking the law, since you really do. If you're not planning in putting a ton of money into that house, that house will not be lawful to rent at all, unless you're planning on being a slum lord and rent to crack heads.

@thehomesteadcraftsman8975

7 жыл бұрын

I see your making the rounds......your way off base. Assumptions will drive you crazy, just like your ego. If my videos and what I'm doing rub you the wrong way, don't put yourself through it. Or better yet, you could make some of your own, sounds like you have a lot to offer.

@unholyascension3421

7 жыл бұрын

true u dont have to put a ton of money into a rent house, the house should be clean, with electrical system up to standard and code , running water indoor plumbing, if the house has faults and the renter knows but still agrees to rent it, thats on them not u , just make sure the house is safe , and u should have it insured against fire and flooding

@ShuffleSk8Ter

7 жыл бұрын

I think the old problem of greed will set in and I will say that your not dong anyone a service except to service your wallet!

Congratulations! It's good to see a young guy learn EARLY how to make REAL MONEY. You're doing what I did 20 years ago when I finally woke up from construction and construction engineering for "other people" and realized I could and should be doing it for myself! As a result of buying right, fixing up cheap (but quality craftsmanship) I was able to make between $25,000 and $150,000 clear profit on every house I renovated. Multiply that times 3 to 4 houses per year and it doesn't take long to amass real wealth! Good luck!!!

@thehomesteadcraftsman8975

7 жыл бұрын

Well Richard, that's the plan. My goal is to get enough rentals to make about 10k profit each month, then focus on buying and selling houses. I'd like to do a mix of wholesale and renovations, depending on the situation. In my opinion there's no other industry that so much money can be made in with such a low barrier to entry. Any goofball that can save some money can get going in it...that's all I did. I didn't have any financial backing, or even a real job. Just sold some junk I had on Craigslist and ebay and saved up the rest while living cheap. Most people are not willing to do that, but many are. Thanks for watching and the encouraging words.

@candidethirtythree4324

7 жыл бұрын

You can buy teardowns too and resell the wood and bricks and windows and whatnot. My brother-in-law made mint tearing down old houses and re-planing the wood and making cabinets and flooring and wainscotting etc. for bougie neighborhoods that are all into 'barn wood' everything and rustic architectural accent pieces. It is amazing what rich people will buy hahaha!

@drudrew2297

7 жыл бұрын

your an inspiration!

@alextran8188

7 жыл бұрын

Richard Stone dang. Even if you only renovate 4 homes a year and make 25k off each home, you still can make a easy 100k a year off that.

@richardstone5241

7 жыл бұрын

Alex Tran - The profit I quoted was after all expenses (NET).

Would love to see updates on how you fix it up!

@thehomesteadcraftsman8975

7 жыл бұрын

Will do.

@MOJORAPSCALLION

6 жыл бұрын

Me too for all the properties.. a real nice guy with a great trade..

Redo the deck in front and build a landing with steps and hand rail. Will be safer for residents and give you peace of mind. Also a small a frame roof right above the front door would really change the look of that house for very little money. Good luck.

@thehomesteadcraftsman8975

7 жыл бұрын

I may, thanks for the thoughts.

@candidethirtythree4324

7 жыл бұрын

Yea, I bet he has a hell of a bone yard that he can scrounge through for the short pieces of wood needed to do that. The rustic look is in but only if it 'looks' like it was meant to look that way.

@tearex3919

7 жыл бұрын

Growing up in the south I can honestly say, we spend almost as much time on the front porch as we do inside. With a tiny house like this a couple hundred dollars in lumber could double the living space. It doesn't have to be fancy at all. I also think it would look really nice and be something your renters would be proud to call home. We all know when we are proud of something, we're much more inclined to take good care of it.

Is that a dead body in the purple duffle bag in the bathroom? Lol!

@thehomesteadcraftsman8975

7 жыл бұрын

That was the joke I made when I first looked at it........"Well there's the body" Thanks for watching.

@ncooty

7 жыл бұрын

+Paul D. Meiss Exactly the comment I was about to leave. :)

@thehomesteadcraftsman8975

7 жыл бұрын

I checked it today with caution.....it was what I thought it was, a Christmas tree....I was a little disappointed.

@MRrwmac

7 жыл бұрын

The Homestead Craftsman Like the humorous response.

@hawk1481

7 жыл бұрын

Paul D. Meiss Wife ?

Im one of those guys that's "out of my element" BUT....I think building a decent front porch would do wonders for the house.

@thehomesteadcraftsman8975

7 жыл бұрын

It would, but so would just tightening it up, replacing a few boards and pressure washing it. Thanks for watching.

@ncooty

7 жыл бұрын

+The Homestead Craftsman You seem like you've got a really good head on your shoulders and a good set of relevant skills, so you've probably considered this, but just in case... In my experience, it's very smart to allocate limited renovation funds/ efforts first and foremost to the systems of the house, the stuff that makes it safe and functional (e.g., structure, plumbing, electrical, etc.). It'll save you and the tenants the most headaches, and that stuff is harder to repair once the cosmetic renovations are done. Lastly, for what it's worth, consider putting AFCIs on all the breakers, especially if you can't inspect all the wiring.

@thehomesteadcraftsman8975

7 жыл бұрын

That's pretty much what I do. I've actually decided to do a full renovation on this house and get it out of the way now in case a buyer pops up for a price I can't refuse. The wiring is good in the house, it's all been redone and looks good.

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks, most likely I'll rent it for a few years before I'd consider selling it. Get some money back out of it first. If you are really patient finding a tenant, you can get a good one. Most any damage is cosmetic, paint for example..carpet, etc. Renting, while it can be a pain has a lot of advantages but selling is great to, you make your money without carrying the liability and costs. It's a lot to think about. Good talking to you.

@rogueyardgnome3090

7 жыл бұрын

porch is a great idea. please weight anything I say with a grain of salt, but maybe take it one step further with nominal extra costs, put a wheel chair ramp in. out of a dozen homes that has been the memorable request of units less then $1,000 monthly. a 4 foot chain link fence for part of the yard can add $50-$100 extra monthly from pet lovers, don't forget to include any pets must be under 50 lbs and no more then 3. these are the long term type tenants I have run across. I personally like what and how you are growing your career, keep it up and thanks for the videos

Looking forward to seeing the progress with this home. Great pick up

@thehomesteadcraftsman8975

7 жыл бұрын

Me too! Thanks.

My brother is a real estate broker and he says you make your money when you buy a place not when you sell it. I think your real estate philosophy demonstrates this. Looking forward to videos on this little place.

@thehomesteadcraftsman8975

7 жыл бұрын

That's about right....of course there's a lot of variation but most of the time the deal is where it happens. It's not so much about the price you pay than it is getting the right situation. This house was more than I really wanted to pay, I would have liked to pay no more than $8000 for it, but in the end it's only a few thousand. In rental terms it's a few months of rent and it's no longer an issue. With this low price stuff, the payback is very fast compared to most rentals. This house just had the right variables to make it worth it. Thanks for the comment.

You are adorable! Totally agree with affordable prices for renting.

@thehomesteadcraftsman8975

7 жыл бұрын

Thank you, glad you enjoyed the video.

Excellent purchase. I love how you defuse the naysayers. Your calm and persistent logic always wins the day.

This house is perfect! I love the size, the layout, and the location. Whoever gets to live in this house is lucky!

Super smart. Millionaire in the making.

@thehomesteadcraftsman8975

7 жыл бұрын

I hope your right.

@bdavis8397

7 жыл бұрын

The Homestead Craftsman You hope you're right.

@the0to1smell86

7 жыл бұрын

travisrhaley fuck you you fucking crook just like this guy gets it for 12k and tries to sell it for 100k..crooks ..

@tearex3919

7 жыл бұрын

The0to1smell how does buying a house for $12k, fixing it up and selling it for $100 make anyone a crook? That's called business. You wouldn't work for free, so why should he? There's a lot of work going into buying a property, fixing it and selling. It doesn't just happen all by itself.

@travisrhaley

7 жыл бұрын

Sorry Chap..you must be having a bad day. Buying selling is business. Crooks steal and sell. The first is noble. The second is nasty and could get you put in prison. You need to have your mouth washed out with soap. Let's add your thinking to that as well.. If he sells that place and makes 100 or 20,000 that's none of our business. I appreciate people that work for a living and bring positive change instead of living off other peoples wages. You shouldn't rush to assume so quickly. I hope you have a great day and that you find some peace in your life. All the best to you.

Good job sir. Love see the progress on your home purchases and renovations. Keep up the great work and good luck

Wish more people were like you who rent out properties, an honest man who shows what you honestly are getting into when your going to rent his property! I dealt with a lot of crap when I used to rent and it caused me to move around so much I finally bought a house so I didn't have to deal with it anymore lol!

Just found your channel. Love your style and all that you do. I am just starting to get into woodworking and I love it. Thanks!

dang man, I have been following you through homemade home and watching every video on the remodel of the home.... the extensive work you've put in... and since i cant get enough i came to this page and found this video too... looked through the comments and cant believe some of them... keep doing what you're doing and screw those people... seriously. building anything requires patience, care and tons of knowledge... let alone remodeling an entire home. Thanks for putting it all on video! looking forward to your next one!

I am in love with this house. My brain started going as you were walking through the house and while you were walking outside of the house. This house has so much character!!!

You are exactly the kind of landlord that we need more of. You provide clean, safe homes for people who can't afford an enormous amount of money per month. NO slum lords!! And you are right if you give people something they can afford they will stay longer and take better care of the rental and appreciate you as a landlord.

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks, people don't know what slumlords are....most saying that have some sort of preconceived notions or are sitting in a house someone else is paying for. A slumlord rents out houses for a lot that are total dumps and won't fix a thing. They are also impossible to deal, etc. My tenants like me, I fix things quick and am flexible when needed.

You've given me not only hope, but also a vision of finally owning my own home. Soon.

You are "wise beyond your years" Your approach to things is very refreshing. I look forward to following you with this project. Keep up the good work.

@thehomesteadcraftsman8975

7 жыл бұрын

Thank you for watching, more to come.

I really hope the negative commenters don't cause you to back off of posting your videos. I stumbled across you a couple of days ago & have been binge watching. I really enjoy the information & work that you do on your housing & craftsman projects. I'm very interested in watching this project unfold. I live in a small house that was very rundown & over run with mice, insects, mildew & rot. The low rent renters really disrespected the property. I have been slowly making it my castle & hope to keep upgrading it as time & money allow. I think I'll get some great ideas from the work you do on this place.

This is the only video of yours I have seen, and I subscribed within the first minute! Very interesting indeed! I love walking through old houses imagining what they COULD be with a little love... My husband and I struggled to find a place we could afford until our now-landlord had compassion and let us stay in one of his old houses. We put a lot of work into it ourselves... Replacing carpet saturated with cat urine, painting walls, overall just a lot of clean up. The house hadn't been lived in (by humans, at least) for years. Some of the floors are still a little sloped and walls are cracking. But it is a cozy place we are happy to call home and we always pay our landlord on time. I would love to do something like this when we have more money. Cool video, thanks for sharing.

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Hi Homestead Craftsman, You have a new member, I love to work with my hands. I'm a big believer on recycling anything I can. LOVE YHE WAY YOU THINK🛠👍

Thanks for sharing! Looking forward to seeing the progress

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Cool project. I really like your honesty when it comes to this house. I look forward to the videos.

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks, I figure a lot of people would like to know about this kind of things and so much of the videos people see make it all seem so unobtainable. I started out with barely anything to get going in this kind of thing.

Great info my friend! Can't wait to see the farmhouse update!

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

seems the space behind the bathroom door would be great for a washer/dryer combo hook-up. that is a huge amenity for a renter AND a buyer.

Cut to the end of this renovation, you really transformed this house. It's unrecognizable! You went against your original plans stated in this video of doing the least amount to bring it up to a decent rentable level. I'd say you did the right thing, going so deep into this renovation to produce what you ended up with. Great job! Very satisfying to watch! Thanks for your channel.

Looking forward to seeing updates on this house, how you fix it up and any changes that you might do to it.

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Awesome buy, it needs some TLC but has lot's of charm! I would live there.. It's quiet and cozy.

Im super excited about the updates I wanna watch this house transform

@thehomesteadcraftsman8975

7 жыл бұрын

Me to my friend....just a little daunted by the work.

Put a gable roof porch on there. It's hell getting in the house in the rain. It will add to the way it looks for sure.

I love what you are doing. The price was great, and I think the house has lot's of potential.

@thehomesteadcraftsman8975

7 жыл бұрын

Thank you

@DaisyThomas777

7 жыл бұрын

You're welcome.

I don't see why people are so rude, I honestly liked it a lot. This is a basic house for a couple, or a single individual. It's not that big but it has everything that's needed. Don't let these comments bring you down this is a nice project to work on, the structure is all there. Sure it needs some paint and flooring but that's basically it. I'm extremely picky and superficial about things looking a certain way but I would actually live here. I hope you have someone to help you. I've worked on a few houses here and there with my husband and believe me I know it's a lot of work even for the smallest things. Thanks for the video I really enjoyed it. Just ignore the negative comments you obviously know what you're doing.

@thehomesteadcraftsman8975

7 жыл бұрын

I don't mind, it's easy to make a comment on youtube. Most of these people formed an opinion in a second and blurt it out. I've talked to people like this in person as well, the same people have seen the house later and had a dumb look on their faces. Most also have a much higher standard of living than so many people. I know people who live in very rough conditions and this would be an upgrade......it's also funny that people say what they say on a video where someone is just getting started and stating their plan.......plans change, they are simply shallow viewers. In the end, I'm glad they watch and leave comments. They are fun to respond to and stir things up a little! Thanks for watching.

I would love to see during & after videos of this house!!! The transformation would be nice to see! New sub here! Nice find!

@thehomesteadcraftsman8975

7 жыл бұрын

Thank you

This man does excellent work and works his fingers to the bone. He takes pride in his work. That's my idea of a cool guy.

Wow you showed up on my feed! I do the same thing but in Cleveland. ^^ I feel like you're walking in my brain

@thehomesteadcraftsman8975

7 жыл бұрын

+Andreu Ahn Ha, we're not the only one doing it....pretty much anyone with money has gotten into real estate.

I came because the thumbnail and title made me curious, but I stayed for the southern accent lol

My husband and I would love a small house like this one. A wheelchair ramp would work well here too.

@thehomesteadcraftsman8975

7 жыл бұрын

It's just a matter of money, which as difficult as it is for some to hear, is not that hard to get if you go about it the right way......in this case, under 12K.....you could have this house livable for only a few thousand and improve it slowly over time.

Congratulations on the buy! I hope you dont find any nasty surprises and can start making some $$

@thehomesteadcraftsman8975

7 жыл бұрын

Nasty Surprises always pop up....

Great potential in that house! Good luck with the renovation

@thehomesteadcraftsman8975

7 жыл бұрын

Thank you.

I hope you will do a finish up video of your 5,000 dollars house just wanted to see it done!! Thanks for sharing! Regards BobLee

@thehomesteadcraftsman8975

7 жыл бұрын

I will, it's basically done.

Congratulations On the new house! just curious are you still working on the tiny house? You had a very interesting build going and I hope to build one one day soon. Thanks -jim

@thehomesteadcraftsman8975

7 жыл бұрын

It's on hold. I'd like to get back on it but I've got a lot going on with all my houses.

@jimmyfurness9284

7 жыл бұрын

Glad to hear your still working on it!

Good update from you. Wondering if you will be installing washer & dryer set? Perhaps in the bathroom? Thanks for sharing.

@thehomesteadcraftsman8975

7 жыл бұрын

Yes, I'll have to wire and plumb in for them. It will be part of the bathroom, utility closet area. Just got back from the house going over some layout options. I'll be talking about them in a video soon.

I would seal the concrete block with block filler before you stucco (ask your paint supplier). Also insulate the floor from the crawl space. Insulate the ceiling, build a closet for the bath and the hall in that vacant spot behind the bathroom door. You have a real gem in the making.

Thanks for sharing,great idea.🏡

Blessings to you and your future endeavors!

watching this video after i watched all the recent video... big improvements

An interesting investment idea, especially if you're a handy guy. Good luck with reno!

@thehomesteadcraftsman8975

7 жыл бұрын

If you had to pay people to do the work, it would certainly be less attractive. In my case, I'll do most of the work and hire people to do certain things. I'll probably spend about $5000 on the house at most. In the end it's not too much money spent, it'll pay the money back in only a few years. Each house makes buying the next easier, at least so far. Thanks for watching.

@aipresenting

7 жыл бұрын

Just a little idea in addition: try to invest a small amount of money on some plants/flowers in the front of the house. People don't notice, but it can be a game changer in renting/buying decision

Great job on the purchase of your Rental.

Thanks for the info. You're smart and young and you will retire without worry of money. Good for you! Keep it up. 👍

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Great house! Open floor plan would do it some good. Bigger room by using the unused space in the bathroom & hopefully your able to make that bathroom accessible to the living space without going through the bedroom. Beautiful yard space.

Looking forward to see what you do with it. :)

Great purchase and the "well is awesome..." put wood posts and roof with a handle turn and bucket. would concrete top hinge with metal lockable lift lid..

@thehomesteadcraftsman8975

7 жыл бұрын

As a rental, a 30 foot deep death trap is not good. I'm going to have it filled in.

Very cool thanks for the video.

Congratulations on what I understand, from your plans, you are on the right path. God bless you.

@thehomesteadcraftsman8975

7 жыл бұрын

Thank you

This video alone made me subscribe to you. I can't wait to see where this house ends up. :)

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

I love this video. I think this is a great man with good values helping people to afford rent. The house is awesome. I do pray he gets the right renter. Thumbs up^

Can't wait to see it done New subbie

Can you please continue to show updates on your progress with this home? I'd be very interested in seeing what it ends up looking like

@thehomesteadcraftsman8975

7 жыл бұрын

Ashley, you are going to be pleasantly surprised to find out I have a whole other channel where I am posting progress videos of the entire renovation. kzread.info/dron/cDzxOd6Q6OLvBYNH2q98EQ.html

Wow, your a busy guy ! Common sense investing , and learning as you go . Your doing a great job ! One little piece of advice someone gave me and it worked out for me was " work smart not hard ". There is a time for both . Keep up the great work !

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks. That's a pretty common quote, not to get all serious on it....but to get anywhere you have to work hard, even when it's smart. It's also relative, for me I'm working harder and harder but it's also much smarter. There's also the part that you have to enjoy it on some level or have a goal that is meaningful. I'll admit it, I want to make a lot of money but not at the cost of never enjoying or caring about what I'm doing. There's a lot of things I could do that would be far easier and far more lucrative than what I'm doing, but I'd be bored. Thanks for watching.

Love the old door handle where the water heater is

One cut throat kinda dude 👌🏽 kudos to you man for being brave and bold. Keep posting

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks for watching.

Nice that there is a fire hydrant close to the house to save a little on insurance.

Great video and content...had to sub...looking forward to your progress

You have a good understanding of what works. Keep the rent low and it will always be rented. Work deals with the renter if you can to fix up little things. When you know what you are doing, such a rental can work well, those monthly checks are nice even if they are mid-three figures..

Wow congrats and oh how I wished I could rent from you. You seem to be a great person who cares about people. I love to know more about your homes.

@thehomesteadcraftsman8975

7 жыл бұрын

Send in your application!

@patricialawaon2665

7 жыл бұрын

The Homestead Craftsman how do I send in a application?

@thehomesteadcraftsman8975

7 жыл бұрын

It was a joke.....perhaps your response was too.......

We have those cinder block houses scattered around rural NC, they were worker houses for the farms. If you have a Habitat for Humanity Re-Store near you you can score a lot of good things cheap there. From light switches and outlets to nice laminate flooring and carpeting and cabinetry. I work with a friend of mine who has several rentals and when I go to fix the stuff in the rentals that's where we get everything light fixtures flooring etc., it ends up usually costing him a quarter what it would getting that stuff new. The nice thing is a lot of stuff like the flooring is new same with sockets light switches light fixtures etc.

@thehomesteadcraftsman8975

7 жыл бұрын

That's about what this house was. A simple house built for very little money. I'll probably spend more renovating it then it was built for.

Yeah, I can believe that would be a challenging job -- I would have trouble knowing when to stop. You're right, that you can't make it "too" nice as there's just no money in it. I'd have a hard time leaving that back step. And I'd put a roof over the front deck, and, and, and.... Kind of a weird layout with the bedroom and bathroom. Room for a stacking laundry pair, though. best wishes, love watching the fix-up videos

@thehomesteadcraftsman8975

7 жыл бұрын

It's easy to go to far with this kind of stuff, even if you do though, you make the money back pretty quick....but making it back isn't profit, at the same time. If the house is a little nicer, you won't be fixing stuff all the time and the tenant will be happier (hopefully) and will most likely stay longer. The house used to be a two bedroom, the bathroom and utility closet was a bedroom. It did not have a bathroom....or indoor plumbing originally according to the previous owner. It has the well outside and had an outhouse. Glad you enjoyed the video.

Put a nice little garden maybe on the front with mulch, new porch fix up inside...be nice when it's done.

I love the way you think, Your doing a great job!!! God Bless you!

@thehomesteadcraftsman8975

7 жыл бұрын

Bush Girl Karen Thank you

Love this!! New favorite vlogger!

@thehomesteadcraftsman8975

7 жыл бұрын

Score! Thanks

I wish we have more landlords like you in San Francisco! We have a bunch greedy developers here!

@thehomesteadcraftsman8975

7 жыл бұрын

It's probably not as much greed as you'd think....but I know what you mean. Being in business for yourself is not easy, you have a lot going against you and sometimes you have to make decisions that others that don't know the full picture are going to misunderstand. Not that your point is not valid. Thanks for watching.

Wow, interesting looking place. It seems it was an old farm house with their own water well. This is something I would definitely would like to follow up on. I used to be a homeowners insurance underwriter and evaluated home inspections. I will tell one thing I do know that always pays off, "safety". Unless you have good liability insurance then I guess you could do as you plan. There are some small details that would not cost you much out of pocket to do, but could save you thousands on liability should a tenant suffers injuries on faulty parts of the home. I mean, I'm not a landlord nor do I have any investments like you. So you have that advantage over me. My husband and I have learned much from watching your videos and we look forward to the updates on this little house. It has so much potential.

@thehomesteadcraftsman8975

7 жыл бұрын

It's not really a farm house, just a shack of a house that I'm sure was built for barely any money. At one time there was about 10 people living in it, no indoor plumbing. It stayed in the previous owners family for 3 generations. I plan on filling in the well. The house will be all electric, that's the main things that seem to drive up the cost. Most of my policies are about $200 or so a year. They are basically burn policies. Glad you enjoy my videos.

@beffdiamonds

7 жыл бұрын

Chelin Fusco I

what an adorable lil house... that's just like what I want to build when we get our property.. a lot of potential there.. I would rip that paneling out tho for sure, mold issue otherwise

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Tighten the porch will not help it needs to be replaced. There are settlement cracks so take a look at the crawl space. Are there any code requirements.

@thehomesteadcraftsman8975

7 жыл бұрын

You could easily fix the porch, a band joists and replacing the hand rail and it would be fine....a quick pressure washing. With that said, I'm going to replace it now.

Nice video! It sounds like this will be quite a nice home when you're finished with it. A couple of questions: In what state does this house reside? How much do you estimate your repairs will cost? And, about how much do you think you might sell it for? Thank you!

@thehomesteadcraftsman8975

7 жыл бұрын

I'm pretty private despite posting videos so I don't get into where I'm at, but it's in the South East. I'll spend around $10K in the end, I've decided to do a full renovation. I could probably sell it for $40k - $50K. That would be a $20k or more profit for abou 2 months of work. I'll probably rent it though, then sell it when the value goes up or the right offer comes along.

New sub I love what your doing to help others!

@thehomesteadcraftsman8975

7 жыл бұрын

Well I'm glad you are enjoying the videos.

May I ask where is this located?..what state?..Thanks for the video :)

Good luck with the venture!

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks Ed

thanks for u videos A new fan from Puerto Rico 🇵🇷

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Thank you for the interesting video. Does the city or county require a rental license and inspection before the property can be rented? How do you mitigate liability issues? is each property placed in a separate LLC? The opportunity to pay cash for your personal home and investment property for less than many pay for a vehicle is unique. You have likely lived frugally and wisely to allow you to do so.

@thehomesteadcraftsman8975

7 жыл бұрын

It varies from place to place and even in cities that do require it, it can be in only certain areas. Usually in older rougher areas. I do not like it personally, I think it's just a way for the city to get money....speaking from experience. LLC's work for liability but a lot of people just own them personally. Paying cash is huge, some people would not advise it but for low end rental I think it's a good idea. If you are buying and selling, borrowing can be good if it's all short term....lets you not use your money and gives you access to more in many cases. Not having a mortgage on my personal home is huge. I have about $25k - $30k in my house total and it is nice, I did everything myself except install the heat pump and sand the floors. It could be sold for $80k to $100K. We'll live here a few more years probably then move on, hopefully to the place we will stay. Spending less and expecting less is key, to many people don't manage there standards and expectations and sacrifice the long term over very short term blips of enjoyment.

Thanks for sharing that was really interesting.

@thehomesteadcraftsman8975

7 жыл бұрын

Cool, glad you liked it.

Thanks for the video. Can you tell us how much rent a house like this might get?

@thehomesteadcraftsman8975

7 жыл бұрын

$500ish a month. You could rent it for more but it would be pushing it and most likely stain a renter which is bad for everybody. I see the most success when you make the rent easy for the tenant. Overhead includes, real estate tax, insurance and repairs when they happen. I have been lucky with repairs. I did have to redo the plumbing in one house while the tenant was there. It took a couple days and a few hundred. Most of the time it's small stuff, like a faucet. $40 and half an hour and your back in business. I've got a year without a phone call from a renter and then you've got people who call about everything.

Hello, I came upon your page by chance- but what wanted to say is - I wonder why there are so many negative Nancy's making such harsh ignorant comments about what this young man is doing??🤔🤔🤔 He's out here making a living on his own dime an so many ppl having such bad comments about the house what he should do how he should fix it, etc. for all those rude commenters y don't you go out buy your own property and then do what you want. That's what's wrong with this world such rude negative ppl, instead of Encouraging him!!!! Not everyone can afford to pay thousands of $$$ to live in a home. There are ppl out in this world who can barely keep a roof over their heads so this young man is keeping the rent low is a Great Help for ppl with little income but want an need a home. I wish you the Best youngman🙏🏾🙏🏾🙏🏾

@thehomesteadcraftsman8975

7 жыл бұрын

+Terry Norman I assure you these comments dont phase me. Most are exactly what you said...ignorant. A lot of others watch this kind of stuff and feel bad about themselves and the desicions they have made. Im not making these videos for them. Im making them for the people that just need a little push but dont quite know what to do. I hope they see that there is no big secret and that you just have to do it. Regardless, a lot of the things people have given me crap for turn out to be my best and lucrative ideas. Thanks for watching.

@terrynorman1222

7 жыл бұрын

The Homestead Craftsman very happy for you and wish you the very best n thanks for your response😊😊😊👏🏽👏🏽👏🏽🙏🏾🙏🏾🙏🏾👍🏽👍🏽👍🏽

Not being greedy is nice change to see . Reasonable prie real estate in my are is 300k sadly.Great idea buying up a few lower end homes for rentals for future investment. Buying and fixing up houses in areas that in a blight and making and fixing a few improves the neighborhood.

@thehomesteadcraftsman8975

7 жыл бұрын

There's a wide range here. From cheap low end stuff up to things that cost millions. The cheapest stuff can be had for a couple thousand. Mine average about 11K for low end houses but in a location that makes them have potential. Most of my houses where problems for the owner, having cash makes it possible since most banks won't lend money for stuff like this and the type of person that would want it to live in doesn't have the cash to buy it. It's kind of a sweet spot I'm in right now. My plan is to use it to build up some money and move up to a higher grade of house that I can just buy, fix and sell.

Really nice,tfs.

you show me the garden shed.............where's the house you bought?

@thehomesteadcraftsman8975

7 жыл бұрын

Ha, funny.

Lookin forward to the fix

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

I owned a single rental property for 12 years and hated it. The renovations didn't bother me, but dealing with tenants drove me insane. Maybe I was just unlucky, but every one of my tenants got behind on rent and then left the place a total dump when they moved out. So many headaches. My advice to you would be to get a solid lease drawn up and then enforce it. You're not running a charity, so don't set a precedent for letting rent slip a month or two. You're already viewing this as an investment for the purpose of making money, so you have a better mindset than I did when I got into rental real estate (involuntarily). Thanks for posting! Like everyone else, I'm looking forward to the updates!

@thehomesteadcraftsman8975

7 жыл бұрын

+Ryan Peters Rental is a volume business. One or two houses isnt enough most of the time to make it worth it. Finding the right people is key

@dblood8529

7 жыл бұрын

Ryan Peters I'm sure depending on the tenants, it can make it disaster. I think what makes it easier in the rental game is actually owning the rental. Of course I don't know what your exact situation was. I think it would make things complicated trying to make money on a rental with borrowed money. I like THC approach.

@ryanpeters567

7 жыл бұрын

Dblood85, I had a mortgage on my rental property. You're right - if I owned it outright that would have been much better! I bought it for $120k though, so 10x what THC bought his for. I didn't have that much cash lying around, so I took out a loan to finance it. If only I knew then what I know now!

@thehomesteadcraftsman8975

7 жыл бұрын

I feel borrowing is best avoided on rentals, but not all the time. You can always pay a loan off early. The loan just might be a way to secure it quickly if you do not have the cash at that moment. In my case, I would not want a loan, nor would I probably be able to get one on these houses, they are too rough, the bank would not want to risk ending up with them. I did finance one house, but I owner financed it. I moved a tenant in the house that payed twice what I paid monthly. They basically payed for the house. In that case it worked great because I did not have to actually have the money upfront other than a LOW down payment and money to fix it up. Where I think loans work is buying and selling. You can get some cash together, then get a loan on a house, use your cash to fix it up, then sell. The mortgage if you are good credit wise will be relatively low on a house you buy for 50k or so, then you could turn and sell it for much more. Just a thought, there's a lot of different ways to go about it.

Build a verandah all around the house, 9ft deep, would double the size appearance of the house but have many benefits., would be cost effective for undercover gained.

Thanks for sharing. Just an FYI, on your KZread About Page, your website link doesn't work.

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks, I'll check it.

First thing I look at is structure and safety. You've got great bones with the concrete block, new windows, and a heat pump. You might be able to increase your rent with a few basic hacks. Replace all outlets and verify they are grounded. A buck or two each and the "new" look goes a long way. It looks like you need to re-floor the entire house. Carpet squares are great for wear and a damaged area can be replaced easily. Try tile or vinyl for the kitchen and bath. Repair and paint all walls...I never know whether to paint over wall paper or strip it. Maybe a skim coat over it and paint? You could put in a bath fan/light combo to avoid mold issues.You might kill a few birds with one stone when you address the outside sheathing. You need moisture proofing, some kind of insulation, and an economical covering. Can you get a stucco that is water resistant and color tinted? Maybe just wrap it in tyvek and then a board and batten finish? Looks like about 4K on the cheap.

@thehomesteadcraftsman8975

7 жыл бұрын

You basically read my to do list! Since this video I have decided to basically do a full renovation. I want to avoid maintenance and be able to sell the house easily if I wanted. I'm going to pay people to do a good deal of the work, while it will cost more than your estimate, the time it will be done in will be far less than if I did i myself. That gets it rented faster and me on to the next project. I've gotten started and moving along pretty good, I'll have more videos next week.

Just my 2 cents, just use a colored stucco, and that becomes maintenance free. I've used Mohawk Stucco several times in the past, but your local masonry yard will be able to sell you another brand like it if they don't carry it. Works really well over block. Earth tones give you the best consistent color, without variations from batch to batch...Best of luck!

@thehomesteadcraftsman8975

7 жыл бұрын

I'm leaning in that direction. Thanks for the input.

Wonderful video as usual 📹🏠👍

@thehomesteadcraftsman8975

7 жыл бұрын

Thanks

Don't let the rude comments get ya down, what your doin here is great. My parents own a few properties and also do the same. I aspire to do the same once I've saved enough. Thanks for the vids!

@thehomesteadcraftsman8975

7 жыл бұрын

I hope you're able to get something going, most anyone with money is doing it.

nice property, good video

Love the green surroundings

@thehomesteadcraftsman8975

7 жыл бұрын

It is quite a bit!

the bodybag looks like a tent to me, maybe a 4+ person one. 😛

@thehomesteadcraftsman8975

7 жыл бұрын

It's quite the mystery.

What state is this in? I feel like I've visited a friend who once lived there. Identical building the same carpet. The one I'm taking about is in Wichita Kansas