Posted on 02/08/2020 8:40:39 AM PST by Mean Daddy
My wife and I are considering selling our existing home and building a new home. Our approach is to sell the house, rent a furnished house/apartment (we have a yellow lab) while the house is being built.
We don't want to worry about having two houses. My question is, what did you do to minimize the amount of moving? Store furniture in PODs? Store semi-trailer? What tips do you have? What would you do differently? Anyone sell & build at the same time? Did you use a realtor who'd purchase your house if it didn't sell after XX numbers of days/months?
LOL!!! We eventually want to winter in AZ and I joke about getting a trailer and she always tells me to enjoy it with the dog, so no.
See my post 31 about a property management company. I know I have been very fortunate and that I’ve never had a bad tenant in the years that they have managed my properties for me, but I do absolutely nothing but collect rent each month. And the property is appreciating at 6 to 10% in value each year.
I’m sitting on a gold mine.
“2 X 6 exterior walls,”
That is what we did plus brick all the way around. Worth the extra cost. That extra 2” of insulation does wonders. Plus we have geothermal. Our heating and AC cost is minimal.
For one home?
Decide today who gets custody of the dog. Building a new house many times ends in divorce.
Not really related to your specific question, but if you are looking to have your house built, take a look at fox blocks
They sell insulated forms that are stacked, tied off to the re-bar, and then pour concrete in the center. Makes a high R value, super strong wall. Basically turns your whole house into a panic room / storm bunker.
I’ve made a fortune on rental property and it’s the reason I was able to retire at 60. Now I’m selling my rentals at 70 because I don’t need that income anymore.
Rental has been good for me to but am reminded of:
You cant reach old age by another man’s road, my habits protect my life but they would assassinate you - Mark Twain.
What was the delay? I was looking into them and read that it took two to three Months. I would assume it depended on whether the Factory not having a backlog of Orders.
Of course this also depended on already owning the Land and the availability of Water and Power.
There is something to be said about having the Home Constructed in a protected environment, rather than being exposed to the Elements.
And it will never be the specific brand or quality you specified.
Don’t drive by his other projects if you don’t want to see your name on someone else’s supplies.
“I know I have been very fortunate and that I’ve never had a bad tenant in the years that they have managed my properties for me, but I do absolutely nothing but collect rent each month. And the property is appreciating at 6 to 10% in value each year.”
We built an upscale apartment complex in 2006. We do anal criminal and background checks and require a high credit score. We have awaiting list 2 years. Most of our renters have been there 5-12 years. We keep the place immaculate and do regular maintence-paint wood door frames every year etc. Yes it cost more money but not having to find new renters is a blessing.
Just paid it off last year. I don’t have a lot saved for retirement but have these and a paid off office building I collect $12,500 per month rent-so that is my retirement. They are also in a good safe area so I an sell them if need be.
I do all the grass cutting etc and most small maintence
Remember, the taxes will go up because you can’t claim homestead on the rental. Then you have to worry about damages.
I just sold my house.
My movers offered storage services @ $120/month.
All my stuff went to storage and I’ve been living out of a box in hotels until I find another house to buy.
I just could not stand the idea of moving twice. Too much stuff, to much sorting and packing. Too many trips to the dump.
I’ll never move again.
Hotel it. The cost is not that much different from your mortgage and utilities.
Change your FR screen name so you can find a girlfriend or two online who’ll be willing to help you out. Then explain to the wife that they’re long-lost neices. Labor is the single most expensive component to moving, or constructing a new home.
The payback is just about 5 years vs. simple electric.
Sure. Whether you only own a single-family home, five or six homes, or hundreds of apartment units; a property management company will service all your needs.
I live 75 miles away from my rental property. I have no time to rush over and replace a leaky valve or a faulty ceiling fan or stuff like that. Two years ago when the central AC went out, as I expected it would, my property management company got three bids to replace it for me. I chose the one I wanted and they did the rest. A property management company has dozens of contractors they use on a regular basis. So if and when a problem comes up they have competent and qualified people to call. And because they are used on a regular basis the rates are far cheaper than what you are I might pay.
I pay a property management company 10% of the rent collected. Yet they have saved me thousands in repair and maintenance costs.
Whoa, and shiver me triggers...
I just bought a huge house for peanuts. Lovingly restored mansion, over 6000sqft. Owners went on a six-month vacation to Europe. Trusted their treasure to relatives who rented it, trashed it utterly, tore out walls, and left the fecal material of innumerable rabbits, cats, dogs, and birds everywhere. Plus over twenty rooms full of disgusting, soiled, infested furniture. Cost me more for cleanup than for the house, but all together less than $50k. Sellers were heartbroken and just wanted to get past a bad episode in their lives. FSBO sale sign was up for almost two days before I got there. :)
Moral of the story, think twice about renting your house, particularly if you DO care about its resale value.
And that's just one story. I know a lot of other horror stories about renting.
“but there was still way too much she wanted to keep”
I struggled with this. My ex was a packrat, at least. Borderline hoarder.
I just went through everything, and I do mean everything. That which had not been used in over a year was sold, donated or went to the dump.
It was very difficult to rid myself of stuff that still had value and utility, but I did it. And I’m far happier I did.
If you are staying in Iowa, you can probably get a good rate on a long term airb’n’b. We did that for our move to Arizona and were very satisfied.
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