RU-vid is my job...I make videos for a living and each one takes 40-60 hours on top of the time spent doing the renovation...It is not a cost or a savings in the renovation. You're basically asking to see my tax returns... Don't get me wrong, I'm very grateful for everyone that watches, and the life that RU-vid allows me to have, but there is a line to how much of my personal life I'm willing to share.
@@modustrial Instead of giving actual numbers can you just say that with You tube revenue plus your commercial sponsors was it worth it to you to do all this work yourself over 4 years. In other words do you feel better off selling your old place and renovating the new place and in a better place fiscally?
Thats not really how it should be looked at... I quit my job as an attorney to make RU-vid videos full time, and the first part of my life as a RU-vidr was spent documenting this renovation. Would I have made more as an attorney? Yes. But am I happier doing things I'm passionate about instead? 💯 Yes.
Ha, fair enough. Thank you!! And please do feel free to comment. I didn't mean to come off as angry... Your comment was not over the line whether joking or not. There were many others saying the same thing in a less tactful way. I chose this one to respond to and pin since I felt it was stated in a nice way 😃
@@20Millzie07 I don't think you understand the hypocrisy in telling someone not to get defensive, whilst getting defensive and saying "Won't be commenting again" because you got a factual reply instead of a high five for a "joke" that has been made hundreds of times before...
This is actually sooo insane, i literally been watching since u started this like ep 5 or 6 and literally watched every single eposide, i cant beleive its even been 4 years. holy
The fact that the cost of the whole renovation 687,340 + the DIY savings 263,800 is literally equal to 951,140 pretty much being the exact price the realtors came up with is pretty surprising.
Not really, by doing all the work in savings he kept that money and not being upside down he pays taxes on a space that could have been 30% higher without the labor/cost savings. It is worth 1.5 million in most places I think. Let's see how the tax accessor values it???@@robbertmadden1386
Yeah of course, because you let people know what your financial situation looks like. Except this guy who was a lawyer, where the building doesn't reflect his entire net worth, so he doesn't care.
Declan, your real cost was close to the professional valuation but your finishes are streets ahead of trade finishes and there’s no doubt that you have an exceptional property. How could you not love it ! Congratulations on your completion.
I think you seriously under estimated the cost savings for finish trim installation. Nice place. Good job. This video clearly illustrates that renovating an old building into your home is neither cheap or easy.
For anyone who's calculating profit, you don't get to count your DIY savings as profit if you're calculating this as an investment. The reason being he could have been doing the exact same work over a period of time which would have generated the same income. So in this case you have to take that savings and amortize that over 4 years. Which means he was only paid $5.5k/mo (or $35/hr) to do the build. For example he even said charged $16k for similar doors; Odds are if he JUST did doors over 4 years, he'd have made double that per month after you amoritize the net. It obviously get's a little grey since these videos are his real job. So he's actually taking double salary: 1) Construction Labor ($35/hr) 2) Video Production (what ever he earns against the videos). And the two jobs depend on each other. We wouldn't watch these videos if he had hired contractors for all the finishings, and he wouldn't be doing the labor if he wasn't making these videos. This is easier to understand if you think of him making, say, video-production centric videos on youtube - which garnered similar views/earnings (a la Potato Jet). And if that was his primary job, but he decided to renovate this building on the side as spec-job/investment. He wouldn't have done the labor himself, and it would be a pure investment. So in terms of investment, he spent $951,000 and this property has an estimated value of $950,000. That's a $1000 loss. If he had invested the exact same amount of money in the S&P 500 in 2020, his net profit would be $958,789 If he had invested the exact same amount of money in the S&P 500 in 2023, his net profit would be $237,750 If he had invested just the initial principal (building acquisition) into the S&P 500 ($350,000), his net profit would be $354,975 So in pure investment terms, He's earned a substantial loss when you include conservative opportunity costs. There's other factors you can easily apply here as well. For instance he loves doing this kind of stuff. He's building a brand in tandum which is the actual investment. His video production earnings well out-earned that $958,000 profit. My only real question is why hasn't the property appreciated in-it-of-itself over 4 years? If he had simply bought a single-family-home and never even touched it, it would have appreciated over that time. Almost all property have moved up something like 5-6% YOY.
@@BarbershopReviews you wouldn't regret it. Will say it's a two person job to get em installed generally, but they work just as perfectly as all of my professionally installed units
huge fan from taiwan. after watching your videos I tried to DIY my own house here after moving back to taiwan...its not easy at all~~~. so happy to see you making such a great recovery from the illness.
you 've put blood and tears in this build, the custom pieces of furniture and lights and the fact that are made from someone with valuable provenance, your aesthetic interventions that makes this building having value as a whole are immeasurable and I think will provide you and your family with a property of much greater value than the sum of its parts. I hope you enjoy it, can't wait for the next video with the channel updates!
I live in Chicago and can’t build a single thing, but I started watching because my friend in Australia asked me one day if I’d heard of you after he saw your videos. 2 years later and I’m showing my real estate agent girlfriend every video because you make it all so fun and easy to follow along to!
Excellent result! 4 years, eh? So that's how long I've been watching you climb this mountain. It's been a great journey and I can't wait to see what's next.
This remodel is going to be difficult to top; but you, MM, are the man to do this thing! Your comments on cost and where it is are right on; "Location, location, location" has been a mantra for Real Estate agents forever. But really, I think you did it most for yourself- your feel for how it ought to be in your world- and you didn't leave out the sprinkles. Absolutely stunning!
I am so ridiculously proud of how this space has turned out! I remember obsessing over this project starting in 2020, religiously watching it every time I got out of work. It is honestly such a beautiful piece of art and it still feels so cozy as well as opulent. You literally helped me picture how to describe my style by doing it right in front of me! I would easily pay over a million to live in this gorgeous space ❤
Cast iron plumbing is a pretty common requirement in commercial buildings, but everywhere else in the US allows rubber "no-hub" fittings instead lead joints which makes the install about as fast as PVC. Chicago has a pilot program to allow them, but it hasn't been rolled out to the whole city yet unfortunately
Crazy thing is the lead "seals" don't allow for any expansion - whereas the rubber ones do, it's actually a less efficient, more problematic system to use lead.
Cast iron is required due to sewer rats. I watch a plumber in New York that mentioned this. The rats can easily chew through PVC so the major cities only use cast iron for this reason.
@@glenziga7464 PVC is allowed underground, the problem with PVC is that it burns so it's not allowed where it could contribute to a fire in a commercial building. Being rat proof is just a bonus to being fireproof
I am so happy we were able to help so much with the build. I guessed about 500k or so, I wasnt far off. I guessed a million if you sold it, dang, I was close! Congrats man.
Wow has it really been 4 years? I remember the first video of yours that I watched being the one where you were in the process of moving out of your apartment having just purchased this warehouse. My, how time flies! I really do have to thank you though. Your channel and a handful of others kept me distracted, if only for a little while, from the grim, dark and depressing reality of the outside world during those 2 years of Covid. I really cannot thank you enough.
One thing I like about your videos is that you always smile, even in difficult situations. I also admire your drive and your versatility in taking on complex challenges like building and installing your own cabinets. Spectacular job - well presented in your videos. Four years is a long time. For a future project, I think expanding your small penthouse on the roof into a larger penthouse with a bedroom with views, a bathroom and a kitchenette area would be a beautiful addition to your home. You would have to engineer it for the cold winters in Chicago, but it would be unique and beautiful. Also, building out a commercial storefront area on the first floor would be interesting and profitable for you. Again, great job. I am a licensed General Contractor in AZ and I learned a lot from watching your videos.
Looking back to the beginning, the realization hits that I have spent a lot of time watching this building transformation. I found the channel at the start of this journey, and haven't missed a single video. It has been a great vicarious experience, and I can't wait for more.
Amazing that you've completed this monstrous task of renovating this building! I remember when you first purchased this and you thought it was going to only take a year! Regardless, you're driven and inspiring to each of us who watch your videos. Looking forward to the plans you have for the future, I'll be there to watch, like , and comment!
Congrats bro! Been here since before you started this project (when you were doing those fine benches and sinks). Your craftsmanship always fascinated me and this project is the crown jewel. Love it!
Thanks for documenting this incredible journey. Definitely enjoyed watching the entire series, and seeing everything come together along the way. Can't wait to see what you do next!
Thanks for the follow up detailing the expeditures/savings. This has been a dream of mine, but I don't think I'll be able to bring it to a reality... so I'll have to be happy living vicariously through your experience! I'm very greatful that you decide to share your journey with us!
This is by far the best pandemic content I have watched. For your blueprints to be well under 10% of the total cost, I think you got a great price. Excellent video as usual!
A 'permit expediter', especially for $1500, is truly criminal. These are already servants on the public dollar, but if you want them to do their damn job, you have to bribe them?
A permit expediter doesn’t work for the city and isn’t a public employee. The architect hires them to do all the permit submittal and coordination with the city. You don’t want to be paying your architect’s hourly rate to burn your money meeting with permit office.
@@Hot_GuacThey also typically have a deep understanding of the local codes and practices which makes things much easier. They are often essential - or at least worht their price - when doing development in commercial areas
I can't believe it's been four years. I remember watching the very first video in this renovation and I've watched every single one since. I'm glad the valuation is higher than you expected. It certainly justifies the high value
been watching since Episode 1 of this series, its amazing what youve done from episode 1 leading up to now! well deserved amazing HOME! its crazy to think that building is your HOME! keep em coming man! Love it!
I've been watching since before the property was purchased, and man this has been quite a journey! Congrats on the assessment and I can't wait to see what is coming next!
Congrats on conceiving and seeing through such an incredible passion project. I’m not sure how long I’ve been watching your channel, but since well before you started the warehouse renovation. It’s so cool and inspiring to see someone living their dream. Thank you for sharing!
wow you defintely did the work and got great results both in the living space you'll enjoy and also the valuation of the property you put so much love into. That's awesome dude, congrats.
I am so glad to be following you from a very long time. You are one of the best if not the best in this field. I enjoyed every moment of ur uploads. You are very honest and a kind person. you are talented and u got a nice taste in designing. The way u document this and presented its amazing. As well as the editing these videos. All I can say is (hats off) ❤
Your home is beautiful. I’ve been watching since the beginning and you are a very talented young man. Best of everything to you. I can’t wait to see you making things down in the workshop.
Thank you for 4 great years of information, entertainment, inspiration, transparency, and reality. Really glad I found your content during Covid. Redid a house myself once, in Miami. All concrete. I feel for all the DIY you put into your place. Kudos and congrats on finding the finish line. Can't wait to hear about future plans!
Congratulations! You deserve it! You worked long and hard on this build and even almost lost your life. Now is the time to enjoy the fruits of your labor.
The reason that cities like Chicago and NYC require copper and iron versus PVC and Pex is union pressure. The idea is to protect the plumbing industry from DIYers.
@@modustrialUnions vote. Union members also make more money on average than non- and that money generally goes back into the local communities where they live, increasing overall quality in their community and contributing (hopefully) to net increase in local population. Great cost breakdown video! Thanks
@@modustrial I think it was Season 19 (~1998) of This Old House set in San Francisco that was already entirely explicit about the adherence to old plumbing methods being due to union pressure. In their case I believe it was about copper for everything, including drainage plumbing.
YOU ! You made me watch your renovation project for TWO HOURS ! And I am not even American ! And I am not even male ! And I am not even young ! And you made me subscibe and like and watch this as well !! GOOD JOB!! 🖤❤🧡 😊
Has it really been 4 years. Damn. You came in my feed, and Ive never stopped watching since episode 1. The only renovation series that's honest about mistakes / costs and where you and / of the money came from. Really curious about what you'll be cooking up next. Buy another building and another X year long series? Count me in!
Been watching Modustrial periodically for a few years now. Congratulations on (nearly) completing the renovations to your new home/studio/shop and on your ~$300k savings/gains.
been real cool to watch this from beginning to end. you killed it dude, and made an incredible home and workshop for yourself. Best wishes for the next journey!
Such an incredible achievement! Wow! :D It's been a privilege to follow you on this astounding journey and I really hope you are quite proud of yourself for doing this. Great job!
Good job Michael. You have done a fantastic job on your renovations, doing a lot of the work yourself. You are so talented. I enjoyed every episode from day one. 💕Aunt Bernie💞
Congratulations.! Another follower here from the beginning, enjoying every single episode. I'm really happy that everything ended at your satisfaction.
i have been watching this from the start i cant believe thats all its worth I really thought it would be near the two million mark its not a great turn around for all the time spent at it im really shocked it was a pleasure and thanks for all the great videos
Been watching since the first video of this Warehouse Reno... what a journey. Congrats on the estimate! Looks amazing! Looking forward to what comes next for the channel.
Been quite the journey but this place has turned out far better than expected! It doesn't hurt that all of the design choices are ones I'd personally go for too! Got some good ideas for personal future projects too from this. All in all congrats on the finished space!
Really good job with all of the things., Started watching you when you got the building and it has been a great journey to see over the 4 years :D exited to see what you do next.
Congratulations on your successful build. I am glad to see the beautiful results of all your planning. It looks to be worth much more than the estimates you were given, but I don't live in your neighborhood. A great presentation along with all the other videos pertaining to the construction. And most of all I am happy to see that you made a full recovery. Look forward to more content.
I've been here since before the first video of this series. This is amazing, Crazy to see what you've done! I used to go to the Xsport on Elston for many years.
Thanks for sharing. I know some DIY RU-vidrs in the past have dealt with a lot of cyberstalking, trespassing, and a lot of rudeness in the comments. So, pretty cool for you to be brave enough to post this. Glad it ended up the way it did. I've been following since day 1.
Will continue to watch the channel no doubt but also very happy the renovation project is "over" Loved the past 4 years, sorry for the loss of your cat :(
Great stuff. I have been watching since the beginning. I remember watching the tour of the old place before you sold it. I am so happy for you! All of your hard work is not only paying off financially, but mentally/spiritually you seem to be fulfilled and on the right path. Keep moving forward because running water does not go stale...
