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My New House - Paid CASH Under 12K! 

The Homestead Craftsman
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In this video I introduce my next real estate project. It's about 570 sq feet, block construction and needs a renovation. The plan is to make it rental property. I'll be documenting progress on this house on this channel and my other channel, Homemade Home...seen here. / @homemadehome5575
The video pretty much sums it up but if you have any questions feel free to leave a comment. Thanks.

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22 авг 2024

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Комментарии : 829   
@kittybell644
@kittybell644 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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
@mechinizer6911 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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
@unholyascension3421 7 лет назад
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
@ShuffleSk8Ter 7 лет назад
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!
@cesargrimm
@cesargrimm 7 лет назад
Would love to see updates on how you fix it up!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Will do.
@MOJORAPSCALLION
@MOJORAPSCALLION 6 лет назад
Me too for all the properties.. a real nice guy with a great trade..
@richardstone5241
@richardstone5241 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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
@candidethirtythree4324 7 лет назад
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
@drudrew2297 7 лет назад
your an inspiration!
@alextran8188
@alextran8188 7 лет назад
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
@richardstone5241 7 лет назад
Alex Tran - The profit I quoted was after all expenses (NET).
@jwolfe122
@jwolfe122 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
I may, thanks for the thoughts.
@candidethirtythree4324
@candidethirtythree4324 7 лет назад
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
@tearex3919 7 лет назад
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.
@slaphands8441
@slaphands8441 7 лет назад
Looking forward to seeing the progress with this home. Great pick up
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Me too! Thanks.
@PaulDMeiss
@PaulDMeiss 7 лет назад
Is that a dead body in the purple duffle bag in the bathroom? Lol!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
That was the joke I made when I first looked at it........"Well there's the body" Thanks for watching.
@ncooty
@ncooty 7 лет назад
+Paul D. Meiss Exactly the comment I was about to leave. :)
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
I checked it today with caution.....it was what I thought it was, a Christmas tree....I was a little disappointed.
@MRrwmac
@MRrwmac 7 лет назад
The Homestead Craftsman Like the humorous response.
@hawk1481
@hawk1481 7 лет назад
Paul D. Meiss Wife ?
@ScrewDrvr
@ScrewDrvr 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
It would, but so would just tightening it up, replacing a few boards and pressure washing it. Thanks for watching.
@ncooty
@ncooty 7 лет назад
+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
@thehomesteadcraftsman8975 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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
@rogueyardgnome3090 7 лет назад
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
@brettoberry3586
@brettoberry3586 6 лет назад
Excellent purchase. I love how you defuse the naysayers. Your calm and persistent logic always wins the day.
@travisrhaley
@travisrhaley 7 лет назад
Super smart. Millionaire in the making.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
I hope your right.
@bdavis8397
@bdavis8397 7 лет назад
The Homestead Craftsman You hope you're right.
@the0to1smell86
@the0to1smell86 7 лет назад
travisrhaley fuck you you fucking crook just like this guy gets it for 12k and tries to sell it for 100k..crooks ..
@tearex3919
@tearex3919 7 лет назад
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
@travisrhaley 7 лет назад
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.
@Wolvenmoon
@Wolvenmoon 6 лет назад
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!
@lolahaze2937
@lolahaze2937 7 лет назад
This house is perfect! I love the size, the layout, and the location. Whoever gets to live in this house is lucky!
@faevalentine9187
@faevalentine9187 7 лет назад
You are adorable! Totally agree with affordable prices for renting.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thank you, glad you enjoyed the video.
@wilde1909
@wilde1909 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@279steven
@279steven 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
Thank you for watching, more to come.
@hilarysclark7357
@hilarysclark7357 7 лет назад
You've given me not only hope, but also a vision of finally owning my own home. Soon.
@michellesmith936
@michellesmith936 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@travp1288
@travp1288 6 лет назад
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!
@jendelris
@jendelris 7 лет назад
Looking forward to seeing updates on this house, how you fix it up and any changes that you might do to it.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@BriarDanny
@BriarDanny 7 лет назад
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.
@sarahogden3826
@sarahogden3826 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
Thanks
@joeyleerobbins
@joeyleerobbins 7 лет назад
Great info my friend! Can't wait to see the farmhouse update!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@melissasfrugalfinds
@melissasfrugalfinds 7 лет назад
I would love to see during & after videos of this house!!! The transformation would be nice to see! New sub here! Nice find!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thank you
@vochaalloy33
@vochaalloy33 7 лет назад
Good job sir. Love see the progress on your home purchases and renovations. Keep up the great work and good luck
@pastorammo
@pastorammo 7 лет назад
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!
@RVGrannyWA
@RVGrannyWA 7 лет назад
My husband and I would love a small house like this one. A wheelchair ramp would work well here too.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
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.
@tea98988
@tea98988 7 лет назад
I wish we have more landlords like you in San Francisco! We have a bunch greedy developers here!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
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.
@brickriver9627
@brickriver9627 6 лет назад
watching this video after i watched all the recent video... big improvements
@Elburion
@Elburion 7 лет назад
Looking forward to see what you do with it. :)
@Miranduhh214
@Miranduhh214 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@duncanfrere2656
@duncanfrere2656 4 года назад
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.
@kimpossible3390
@kimpossible3390 7 лет назад
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!!!
@zerocool2352
@zerocool2352 7 лет назад
I want to reserve judgement, but maaaannnnnn this is looking like it's going to pan out to a number of the decrepit crap holes I've lived in while in college. Slum lords would say the same thing, "Buy cheap. Minimal investment. Rent and fix just enough to keep it going". That's certainly one business model, and I totally see a place for it, but I have no respect for it. My old man buys old decrepit houses for rent, fixes them up so they're gorgeous, and has won a ton of historical preservation awards for his work. His effort is antithetical to what the rest of landlords do in town, and it makes an enormous difference to the pride of the community. His houses end up raising the property values for everyone around, and he clears a nice profit when he goes to sell. I admit it's not easy... can't flip very many houses since they can take months to restore... but his rent rates are much higher and there is always a waiting list.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
You just hold on and you'll be pleasantly surprised......not that it will be as pretty as your father would do things...
@zerocool2352
@zerocool2352 7 лет назад
Okay, I'm totally down in that case and can't wait to see what you come up with. After posting that first comment, I was thinking to myself about how few Craftsman Bungalows I see these days... the kind of houses that were modest in size, built by skilled tradesmen, and decorated with beautiful and intricate work. If you end up doing something like that - and with your skills - I'd be glued to watching for certain. This country is primed for a renaissance of the beautiful craftsman houses and not yet another of those "move in" ready ticky-tacky vinyl sided stick homes.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
You've got a lot of passion in you.
@fabiola925
@fabiola925 7 лет назад
The Homestead Craftsman your humor 🤣🤣🤣
@harveythepooka
@harveythepooka 7 лет назад
Why don't you wait to see the outcome? You don't know his budget to fix it up and I will totally agree with you if he just puts some paint on the walls and calls it a day, but if he fixes it up a decent standard, with safe electrical, working plumbing and working hot water and heat pump then there is nothing to complain about. We have to wait and see.
@katadored5699
@katadored5699 7 лет назад
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.
@renaeitali7519
@renaeitali7519 7 лет назад
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^
@sabrinafiree
@sabrinafiree 7 лет назад
One cut throat kinda dude 👌🏽 kudos to you man for being brave and bold. Keep posting
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks for watching.
@angela-wo8zt
@angela-wo8zt 7 лет назад
Awesome buy, it needs some TLC but has lot's of charm! I would live there.. It's quiet and cozy.
@tombrooks8565
@tombrooks8565 7 лет назад
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.
@mrodgers88
@mrodgers88 7 лет назад
I came because the thumbnail and title made me curious, but I stayed for the southern accent lol
@miriamayala5757
@miriamayala5757 7 лет назад
Blessings to you and your future endeavors!
@lisahazzard380
@lisahazzard380 7 лет назад
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🛠👍
@ginenelafontaine8343
@ginenelafontaine8343 4 года назад
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.
@Goodellsam
@Goodellsam Год назад
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.
@cwdunc5023
@cwdunc5023 7 лет назад
Great potential in that house! Good luck with the renovation
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thank you.
@just-dl
@just-dl 7 лет назад
That place can make a cute little home for an older couple, young couple just starting out or even a soloist. It can be very basic, with everything very well done, and it's perfect. You don't want to price yourself out of the market or your target audience, which is another reason to keep it simple. I'd suggest changing out all the cabinetry. Bath vanity & kitchen. I think future tenants would appreciate the more efficient space, more standard cabinet heights, etc. Also, for the roof, if you have a need to pull off all or most of the shingles, I'd suggest a "cold roof" where you strip down to bare decking, put up a segmented grid of 2x2s and a second deck over it. tar and shingle, and you've got a nice venting option to prevent the attic from baking. A decent job of air-sealing, coupled with a modest amount of insulation, and cooling the place will be a lot easier. (And, that can be done with a tenant in place, which gives you the option to put it off.) Best of luck. I enjoy your videos, and your passion for learning and doing.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
You mentioned a good deal of what I'm planning. I need to insulate the place which would require ripping everything out. For a roof, I'll just do shingles and then insulate, it'll be good enough Can't go to crazy, even still it's no small amount of money to sneeze at. Thanks.
@marrano10
@marrano10 7 лет назад
Congratulations on the buy! I hope you dont find any nasty surprises and can start making some $$
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Nasty Surprises always pop up....
@ToughJourneyman
@ToughJourneyman 7 лет назад
Wonderful video as usual 📹🏠👍
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@scooter041031
@scooter041031 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@markroeder2491
@markroeder2491 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@christineausenbaugh6516
@christineausenbaugh6516 7 лет назад
This video alone made me subscribe to you. I can't wait to see where this house ends up. :)
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@locostasia
@locostasia 7 лет назад
This isn't meant to sound rude but how do you find houses for such a low price?
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
That's not rude, read through the comments if you want to see rude.... You just have to look hard, call people, knock on doors, send letters....basically get involved. You know when you want something for the first time, then you start to notice the thing you want seems to be everywhere....you develop an eye for finding things. I am also pretty good at talking with people, so the negotiating with the seller is an important part as well. Making an offer and being willing to walk away is important. Having cash is a big part too, I tell the seller right off the bat that I have the cash to buy the house. Normally I say something along the lines of ....I have cash to buy a house and will be buying one within the next few weeks.......they then realize their is competition to get my money, basically it just flips things from they are in charge to I am in charge.
@DaisyThomas777
@DaisyThomas777 7 лет назад
I love what you are doing. The price was great, and I think the house has lot's of potential.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thank you
@DaisyThomas777
@DaisyThomas777 7 лет назад
You're welcome.
@sean3711
@sean3711 7 лет назад
Thanks for sharing! Looking forward to seeing the progress
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@jimmyfurness9284
@jimmyfurness9284 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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
@jimmyfurness9284 7 лет назад
Glad to hear your still working on it!
@minnipearls3633
@minnipearls3633 7 лет назад
Love the old door handle where the water heater is
@KevinJohnson-hi1xf
@KevinJohnson-hi1xf 7 лет назад
Im super excited about the updates I wanna watch this house transform
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Me to my friend....just a little daunted by the work.
@james5460
@james5460 7 лет назад
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..
@bobleeswoodshop7919
@bobleeswoodshop7919 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
I will, it's basically done.
@karenchakey
@karenchakey 7 лет назад
I love the way you think, Your doing a great job!!! God Bless you!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Bush Girl Karen Thank you
@DoWhatMakesYouHappyy
@DoWhatMakesYouHappyy 7 лет назад
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.
@djterry1218
@djterry1218 7 лет назад
From reading some of these comments, I have a different view. I am seeing a man of God who wants to live life, make some money but not take somebody to the cleaners. I see somebody who wants to fix the house up to be a nice house, not be a slumlord. I am a first time viewer and very interested in what the outcome for this house will be.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Standards and expectations vary quite a bit.....also some people automatically WANT to see something negatively, whether they know it or not. I don't mind though, doesn't change what I do. Thanks for watching.
@aipresenting
@aipresenting 7 лет назад
An interesting investment idea, especially if you're a handy guy. Good luck with reno!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
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
@aipresenting 7 лет назад
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
@DaleB809
@DaleB809 7 лет назад
Great video and content...had to sub...looking forward to your progress
@dadada70pp
@dadada70pp 7 лет назад
Yes nice place to redo I see the possibility. You sound friendly and handsome sir 🤗
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@thisguyiscrazy4419
@thisguyiscrazy4419 7 лет назад
you show me the garden shed.............where's the house you bought?
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Ha, funny.
@ryanpeters567
@ryanpeters567 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
+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
@dblood8529 7 лет назад
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
@ryanpeters567 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@MrUlfang
@MrUlfang 7 лет назад
Great job on the purchase of your Rental.
@leeluv96
@leeluv96 7 лет назад
I think that if someone did want to put more money into the property, it would be nice to close the doorway off from the living room to the bedroom. Put a wall through what is now the water closet, giving more room to the bedroom side, and a small cut out for the bathroom. Off the kitchen, where the fridge and stove are, add a door to the bathroom, and a door to the bedroom. Make them both pocket doors to increase space. It may take some bathroom refiguration and relocation of plumbing but, turn the sink 90° facing the tub/shower, So it would'nt have to move too far from it's current position, placing it against the wall in the alcove you've just created by taking the water closet out. The other half of that space could be a small closet for the bedroom next to the doorway on the short wall. It think that would flow better for the house. But in the kitchen the sink would have to move from the back of the house to the side of the house, under the smaller window. The corner built-in cabinet, with the mirrors, would have to come out to accommodate the fridge and stove. I think it's odd to have the entrance to the bedroom right off of the living space. I would not put wooden steps in the back either, I would however, purchase prefab concrete steps from the local home center. They are very inexpensive and would definitely pass building codes. I would extend the porch to cover the entire front of the house. Because the home does not have much curb appeal, this would be an attractive feature especially with a porch cover, like a frabric awning. Paint the exterior give the Windows shutters or something and that's it.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
+leeluv96 Good ideas. Thanks, you may see some of these in the final layout.
@joantrotter3005
@joantrotter3005 7 лет назад
The above comment had some good ideas! I was thinking if you post a blue print of the houses, that some of us would see things differently that could be useful. I'm not a carpenter or builder, but I have helped several with ideas. I just have a creative eye ☺.
@leeluv96
@leeluv96 7 лет назад
Joan Trotter, OMG I had the same idea! CONFOUNDED the darn RU-vid comment section doesn't allow pictures. LOL
@joantrotter3005
@joantrotter3005 7 лет назад
He could put a blue print in future videos though.
@leeluv96
@leeluv96 7 лет назад
Joan Trotter, yes but I guess I was speaking from the viewer's perspective. That we could not post our ideas. But I'm pretty sure I could draw a rough sketch from the dimensions he gave in the video. The world would never see them though, so they can give me feed back on how I can't put stairs through the bathtub that lead to no where. Nor can I put a window on the water heater. LOL
@terrynorman1222
@terrynorman1222 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
+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
@terrynorman1222 7 лет назад
The Homestead Craftsman very happy for you and wish you the very best n thanks for your response😊😊😊👏🏽👏🏽👏🏽🙏🏾🙏🏾🙏🏾👍🏽👍🏽👍🏽
@candidethirtythree4324
@candidethirtythree4324 7 лет назад
You are correct about the tenants staying if you charge reasonable rent, the last house we sold had the same renter for 26 years. Keeping property is like putting money in a savings account, buy it when you are young, piece by piece then you can sell it when you retire or as you need money. A savings account pays very little interest but most property increases in value even if you just buy bare land and do nothing with it.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
26 years, not bad. If someone rented this house for that long it would make well over $150K.....and that's not factoring in raising the rent. I hope to find that kind of person. Thanks.
@candidethirtythree4324
@candidethirtythree4324 7 лет назад
Yes, not bad at all, a house bought for 16k and sold for 130k 30 years later plus the rent was a good retirement stash. Another way to keep tenets was letting them have a say in some things if they lived there a few years on good terms. We let them paint, put in carpet, do some repairs, landscape etc. as long as they talked to us about it first and gave us receipts, we would deduct the cost of the materials from their rent so they felt more invested to stay and keep the place up. There was not much turnaround over the years in any of them. I think many people don't keep places long enough for it to really pay off but if you look at it as an alternative to a bank, it can be a much bigger return on investment. The only way it isn't is if the town goes to pot around it. best not to buy property in a town where everyone works in the same factory or mine or something, those often end badly.
@paranoid5881
@paranoid5881 7 лет назад
I'm a college student who rents a one bedroom. The corporation who owns it, renovated it to the 10th degree. Everything new, and clean. If something breaks, they fix it. If something gets broken, they replace it. Rent is very low and good. All residents just got to keep it clean, pay the bills and rent on time, 100% clean with inspections. 4 years here and everything's still looks neat and new. Best apartment manager and owners ever.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Good deal, I go inside of my rentals fairly regularly as well to keep an eye on things. You sound like an excellent renter. I hope to find the same. I'm doing a full renovation on it now, so whoever moves in will be getting a new house basically.
@paranoid5881
@paranoid5881 7 лет назад
The Homestead Craftsman Awesome, wish you well 😊
@sethwatson8952
@sethwatson8952 7 лет назад
WOW. Calling that a house is being very generous.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Not a lot of money in buying houses that someone like me has already bought, renovated and sold for a profit......with that said, I thought your comment was funny. THanks for watching.
@danielbenedict8818
@danielbenedict8818 5 лет назад
Seth Watson, I think I would be happy to live in a place like that once it was fixed decent, and the rent was in the range he mentioned. Sure be much nicer than my 1 bedroom apartment on the fourth floor in a blighted urban area for $1075 per month rent!
@BeautyBlabber08
@BeautyBlabber08 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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. ru-vid.com/show-UCcDzxOd6Q6OLvBYNH2q98EQ
@NoCPU
@NoCPU 7 лет назад
It looks like the property is suffering from damp and subsidence.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Had to look that second word up. It has some cracking in the joints but nothing out of the ordinary. This house is pretty old. In the end it doesn't really make a difference. It's just a rental and temporary for the occupant. The house will outlast me. Thanks for watching.
@Piecesoftheshadow
@Piecesoftheshadow 7 лет назад
The Homestead Craftsman It's not just a rental. My rental is my home and what I can afford, and how it looks and feels is extremely important, even as a renter.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
11 11 .....Ah, my friend again...must have missed your comment here. My saying it does not make a difference is pertaining to the structural issues and that they will not negatively affect the renter. It's just an old house, fracture lines in the joints are normal. All you have to do is point them up. Me mentioning the renter is just saying that a renter is temporary vs. if you sold the house, sometime down the road, someone may have to make a major repair....way down the road. In the original comment, he also mentioned dampness, that's just from not being lived in and not being taken care of. It needs roof work which are being done. I think we just had another slight misunderstanding, hope that clears things up.
@Piecesoftheshadow
@Piecesoftheshadow 7 лет назад
The Homestead Craftsman Gotchya, that all makes sense. I seem real confrontational on your comment thread here, I swear I'm not, ha. Must have been an off day. Thanks for your responses and videos!
@kare6878
@kare6878 7 лет назад
Put a nice little garden maybe on the front with mulch, new porch fix up inside...be nice when it's done.
@jess_mills
@jess_mills 7 лет назад
Nice that there is a fire hydrant close to the house to save a little on insurance.
@onetuliptree
@onetuliptree 6 лет назад
Potential for a great little rental, I would rather rent a house with yard than an apartment.
@billfromelma
@billfromelma 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@racheltaylor9161
@racheltaylor9161 7 лет назад
I absolutely agree with you. You get into property to make money. No point overspending on fixing up a house more than it needs to , when rent is on the lower side. Need to recoup your money first. People who are saying you need to spend more, that probably have no idea on this topic. Excellent house, with huge potential
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
I don't mind the comments by those people, like you said, they don't know what they are talking about or are coming from a different point of view......one guy harped how it was a bad deal but his whole point was based on selling, when I'm renting, two very different things. Also was basing it off a places assessed value, again, who cares....I want rent coming in, not a high tax bill. It's also funny that people want to hate on you in general when your working hard on something to better your own financial situation, improving a house/neighborhood yet they are complacent with so many actual problems that exist......there are millions of people sitting around not doing a thing or worse. Haters gonna hate......thanks for watching.
@countrywoodcreationsnywv5055
@countrywoodcreationsnywv5055 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
I'm leaning in that direction. Thanks for the input.
@acrawford6958
@acrawford6958 7 лет назад
Cool project. I really like your honesty when it comes to this house. I look forward to the videos.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
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.
@Wordsnwood
@Wordsnwood 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@_J.F_
@_J.F_ 7 лет назад
It might also be a good investment to put a gutter on the roof and avoid rainwater splashing up the walls, particularly if you are going to render the exterior walls and paint them. (Actually a good idea even if you are not rendering and painting the walls so that the rainwater can be directed away from the house).
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
That's the plan
@patricialawaon2665
@patricialawaon2665 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
Send in your application!
@patricialawaon2665
@patricialawaon2665 7 лет назад
The Homestead Craftsman how do I send in a application?
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
It was a joke.....perhaps your response was too.......
@brigittelm6054
@brigittelm6054 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
As a rental, a 30 foot deep death trap is not good. I'm going to have it filled in.
@misspriss6362
@misspriss6362 7 лет назад
Hi there, I have listened to you talking about this house like it could possibly be your dream home or for someone else, but I think that it will take a lot of money to do the tasks needed in order for this house to turn around and be sold for a reasonable profit. The first place you should start is with the foundation. It does not look that solid from the exterior view, but if you make it solid, it could last for years down the road. The next step would be labor. You need to be able to pay people that will help you make this project a success. If you cannot come out of pocket, then your best bet would be to employ hard diligent workers that mean business and can envision this house the way you envision it to be one day. I have no doubt in my mind that you can't do this, but I hope that it does become a successful endeavor for you. By the way, you are awfully cute!!! Have a great one and God Bless😃
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks for the thoughts.
@zoolilba
@zoolilba 7 лет назад
Thanks for sharing that was really interesting.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Cool, glad you liked it.
@woodscrew5612
@woodscrew5612 7 лет назад
Very inspirational on making a living in a non traditional way!!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks
@giannilovesmakeup
@giannilovesmakeup 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
I hope you're able to get something going, most anyone with money is doing it.
@chelinfusco6403
@chelinfusco6403 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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
@beffdiamonds 7 лет назад
Chelin Fusco I
@therealMelB
@therealMelB 7 лет назад
Yeah....I wish u luck! We rented our home for zero above the mortgage for 3 yrs to two separate young families. We could of made at least $400 over but I wanted to "help" since rents in our area have skyrocketed ( near Seattle ) what did we get? Trash thrown out amongst our trees, broken deck boards, stolen light fixtures, late rent EVERY month...etc....they wouldn't even get off the couch long enuff to mow then stole it when they left. my advice? Fix it up like a McMansion & price it towards higher income professionals. Then if they screw it up you have a sizable deposit...Plus you won't deal with those "judge judy" Yahoo's looking to sue YOU for exercising you rights to protect your property. Landlords have very little rights anymore. ...its sad.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Sounds like a bad deal, too bad. Thanks.
@GregAlanEdwardsEmmanuelRidge
@GregAlanEdwardsEmmanuelRidge 7 лет назад
Those old oil tanks make great BBQ grills if you wanted to spend a few dollars and have someone convert it. The cost isn't bad and it would be a nice perk for a renter.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Sounds like an insurance problem....just kidding. I'm going to drag it to the street and spray paint FREE on it.
@sheenabailey
@sheenabailey 7 лет назад
Love this!! New favorite vlogger!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Score! Thanks
@BargainBeautyAmy
@BargainBeautyAmy 7 лет назад
Can't wait to see it done New subbie
@jlems7386
@jlems7386 7 лет назад
That well in the yard scares me. It looks like it's straight out of "The Ring"
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
I can just see that scary girl coming out of the well now, jerking all around.........why'd you say that!
@AllAmericanDreamChaser
@AllAmericanDreamChaser 7 лет назад
I've thought about doing this same sort of thing, but I've seen too many landlords in tears from all the damage left behind by former tenants. One guy and his biker buddies brought their motorcycles into the house and drained their oil onto the carpet. Another poured concrete down the drains and toilets. Another was a cat hoarder. The list goes on. Either way I wish you the best!
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
And those landlords would be fools for renting to those kind of people. Background check, credit check, how long have they had a job, landlord references, etc. Being scared is a good way to never do anything, persist and you will win.
@tonybrowns649
@tonybrowns649 6 лет назад
Without opposition one cannot make advancement in all aspects of life. A lot of these comments prove he's a simple living, high thinking type guy. Cheers to his success. #Motivation #BanksAreBadBusiness
@DavidKirtley
@DavidKirtley 7 лет назад
Well, not that you asked but... :) I would move the door to the utility into the bathroom and put in a washer/dryer hookup in with the hot water tank behind bi-fold doors. That would give a little more usable space in the kitchen. Should probably make a small platform on the back just for liability issues and maybe a ramp if you want the accessibility angle. Maybe sell or move that a/c unit to another property as it is probably too big for that size house.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Those are good ideas, thank you. I was thinking just to put a washer and dryer in the bathroom nook, but your idea is cleaner and would not require that much work. The heat pump is not as big as it looks, I'll stick with it for now. Installing a new one would cost me $3500ish and I don't want to add that to my list. Thanks again for the thoughts, I'm sure you'll see them come to life in the house.
@lehampton1
@lehampton1 7 лет назад
Dude! You cut your hair off! I bet it's cooler this long hot summer! Always enjoy your videos, tables, knives or houses! Keep them coming.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks Larry
@scottfoster2487
@scottfoster2487 7 лет назад
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
@thehomesteadcraftsman8975 7 лет назад
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.
@rogueyardgnome3090
@rogueyardgnome3090 7 лет назад
just found this channel, you said it well. basically cant fix a cheap place up nice as you will never get the right price. the problem I have run into is mold issues. no matter what anyone says you cannot simply bleach it away. piece of mind means putting extra into removing and replacing moldy areas. too much of a health hazard to not.
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
I don't have mold issues in this house, the black on the walls is soot from smoke....I don't know how it got there, a fire or problem with the wood/oil stove in the house at some point. Mold comes from moisture, I'm replacing the roof on the house and doing other work as well that will keep it low maintenance for me and a nice place for a tenant.
@rogueyardgnome3090
@rogueyardgnome3090 7 лет назад
The Homestead Craftsman I'm told 15 houses is the magic number for constant profit and covering various landlord or repairs needed. looks like you are definitely headed in the right direction though
@thehomesteadcraftsman8975
@thehomesteadcraftsman8975 7 лет назад
Thanks, I don't have 15 but I'm aiming for more, around 20-25 then I'd like to switch to buying and selling bigger stuff. At that point I'd basically just do deals and not work on big projects myself. I would just be having fun doing the deals and what ever else I want to do....which is basically just a bigger version of what I'm doing now.
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