/diy/ - Do It Yourself

Hope you've got insurance or a good lawyer for the inevitable T-Virus outbreak.

>>455830
Sure thing, Skype is renewedlithium

>>455812
If you're serious about this we can chat on Skype. I can drop a ton of info.. have some financial spreadsheets/business plans and better help you sort out a plan and see where you are and where you want to be. Plus, I love the networking.

>>455767

I've been looking into this as well and am in the 'real estate' business in a way with building/remodeling. Here are some tips I've picked up.

There are two thoughts I've received from experience investors and it boils down to your risk tolerance.

30 yr mortgages are not a bad deal if you're strapped for cash and cant pay outright. It can be better to take calculated risk and leverage what you have rather than just doing nothing and making no progress. If you have 100k dollars and lets say you want to buy homes in the 50k range you can either buy:

2 properties outright

The two paid off properties rent for $500 with no mortgage you'd make $1000/mo or 12k a year for about 12% cash on cash return per year not bad

OR

leverage your money and put down 20% to avoid PMI and acquire 10 properties.

with that you'd have payments of roughly $266 mortgage per house at 5% for 30years if the houses rent for $500 as well that gives you $234 per house or $2340 gross a month. That's $28,080 a year 28% cash-on-cash return a year.

So there can be more money in leveraging the cash you have and acquiring more properties.

Something else to consider is vacancies if you have two properties if one house is empty that means half your money is gone for that month and even though its paid off you still owe taxes, upkeep etc. Whereas you only lose 10% of your income if one tenant is gone from your 10 properties.

As far as property managers they take about 8-12% of the GROSS month rent per property, but when dealing with 1-2 properties I've heard you're better off dealing with it yourself until you acquire 5 or more so you can negotiate percentages with them.

>>455765
lol

2x4s are 1.5" x 3.5"

>>455758
Lagging it is good if its going to be supporting the weight in a suspended application, but as long as the other side at least has galvanized ring shank nails drove through it will last pretty much forever.

>>455640
This is both right and wrong.

Lowes nor Home Depot no longer sell the CCA PT lumber which had Arsenic in it, they now both sell either ACQ or some Micronized Copper version. These newer treated ones no longer contain Arsenic which could be dangerous when burned/inhaled/ingested but still have insecticides/poison on them.

Yeah, I notice the butting together.. but yeah it wont matter since its sitting

Are those 2x10s pressure treated? It's hard to tell from the pics.

Or this..

This would be something similar I'd do

Well, if you're best option is cutting your bedroom down and making a hallway straight into the bathroom. There's not really a good way to do this without extensive renovation or cutting your room size down. That layout is absolute shit. What is your budget to do this?

>>436640
Err, I mean on the left side, sorry.

>>436510
In this pic I'd scab another 2x4 on the right side, if it were me.

>>436605
If there's no other option then it couldn't hurt I'd wrap it around the corners to tie them together 3 times, at least, overlapping each time. Do that top, middle and bottom.

I'm not from the UK but have plenty of experience in construction.

First off, developing (at least in the U.S) is more speculative than anything. That is, if you are saying you want to find some land and develop that land into say a subdivision. This is very tough here. It costs ALOT of money. You have to find land, survey it, excavate/level it, get water, electric connections.. lots of planning and time. It's hard to make money in it but can be very lucrative.

If you're 'flipping' properties then that can be lucrative. Do they not have inspectors that check everything if you buy a property to make sure everything is okay? Dealing with tradesmen make sure they are licensed and insured. Get references, ask for before and afters, call references. Make sure to get a Scope of Work and go over it with your guy so you both understand what is expected. Make sure to get a good contract that shows what is expected and that you will pay when certain milestones are met. Generally you can either do 1/3 upfront and then two milestones after. That's how I work with it anyway. If they want it all upfront and its a bigger project, run away.

That's all I can think of for now.