Anyone have experience renovating absolute run down homes?

[Bertram]

Berlin, NH's city data looks ok enough, btw. Way way up north though... you'll probably have to go to Tim Horton's for coffee.

Eh bien!
C'est beau!
Passe mwee ton baguette, twee!

And Horton's Canadian WIFI

 

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[MTEE1985]

Stamford, CT

Thank you. Presumably your new job is in that relative area? So your search area is within say 30 minutes of that?

I mean knowing that, finding something in that general vicinity of CT for $100k with any kind of square footage seems like it’d be worth the renovation cost and effort.

 

[Bertram]

Stamford, CT

That was my guess!!!!

 

[DeletedUser0287]

Thank you. Presumably your new job is in that relative area? So your search area is within say 30 minutes of that?

I mean knowing that, finding something in that general vicinity of CT for $100k with any kind of square footage seems like it’d be worth the renovation cost and effort.

Ideally, but willing to do 1 hour. Yeah its just that the place would be inhospitable. Meaning I would not be working on my main venture at all for months. Actually haven’t been because I was trying to find a job all that time since I ran out of capital.

That was my guess!!!!

You’re a psychic

 

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[broswoodwork]

Thank you. Presumably your new job is in that relative area? So your search area is within say 30 minutes of that?

I mean knowing that, finding something in that general vicinity of CT for $100k with any kind of square footage seems like it’d be worth the renovation cost and effort.

^

There's some more rural places in southern RI too @MoreValue where you can find an approximate value to the one Lex dropped above.

Being an employer in RI is it's own bag of chestnuts though. I went to hire down there, and basically got a series of threatening letters from the state as a thank you for making jobs. Back to MA I go!

 

[Lex DeVille]

That's Tornado Alley and your 5000 SF steel building is going to fly off like a frisbee.

Disasters happen everywhere, and it's not like tornadoes drop out of the sky daily. Even when they do they usually don't last long and have a limited path of damage.

And that price, @Lex DeVille Lex! What will he do with all that acreage? Snowmobile wheelies? John Deere riding mower anyone?

Well, if it were me, it would get used for something. Christmas tree farm. Rented to hunters. Snowmobile park. John Deere races. Haunted woods. Camp grounds. Secret underground fallout shelter that you can pre-purchase access to for $3,000,000 like this one in Kansas... But mostly for the space, peace and quiet!

 

[Bertram]

Ideally, but willing to do 1 hour. Yeah its just that the place would be inhospitable. Meaning I would not be working on my main venture at all for months. Actually haven’t been because I was trying to find a job all that time since I ran out of capital.



You’re a psychic

No, I have family right there. It's a great place.

RI is too far to drive. Why not pour a slab and build a steel frame, bring in a generator and pellet stove? That would take 3 weeks. No commuting is priceless.

 

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[Bertram]

Stamford, CT

You're an hour from NYC?

"Bad neighborhoods" in NYC and CT can be fatal.

"Bad neighborhoods" on the Maine coast mean something entirely different.

A "bad neighborhood" in my town means that the deep sea fishermen and the lobster fishermen brothers in one family haven't spoken to each other for ten years so there are no Christmas lights down their street.

A "bad neighborhood" in sleepy mill towns means legacy alcoholism. You're fine there but the police are busy.

In gentrified liberal Midcoast towns it means that grown-up drug dealers drive into town midweek to sell to the high school kids outside the 7/11 store on Wednesday nights.

In northern and Downeast Maine it means the locals cook their own meth going back three generations. Some of those are truly scary towns and people stay home at night. But guess what, property values remain high.

In Stamford it's hard to fathom the differences from a glance.

 

[Bertram]

Secret underground fallout shelter that you can pre-purchase access to for $3,000,000 like this one in Kansas... But mostly for the space, peace and quiet!

Disasters happen everywhere, and it's not like tornadoes drop out of the sky daily. Even when they do they usually don't last long and have a limited path of damage.

Well, if it were me, it would get used for something. Christmas tree farm. Rented to hunters. Snowmobile park. John Deere races. Haunted woods. Camp grounds.

Underground fallout shelters as blue ocean!

 

[DeletedUser0287]

“Bad neighborhoods" in NYC and CT can be fatal.

Do I have to risk my life to get a move-in ready home? Seems like it.

I’ll just save up some more through slowlane style.

 

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[YoungPadawan]

Can you just import what you are trying to manufacture?

 

[DeletedUser0287]

Can you just import what you are trying to manufacture?

Yes, but here is why I'm not.

When importing you are locking to the manufacturer's MOQ. It is essentially starting with scale. You only do scale if you are 100% sure you are going to sell. Not 99.9%, it has to be 100%.
Unless you want to be stuck 100x of whatever. You will never recoupe cost.

I did import components from a manufacturer to be used and thats about it. With in-house method, I can essentially output lots of iterations and change things on the spot. Essentially, I can afford to be wrong. Exactly what a startup needs.

Since I was making the product myself, I found numerous issues that I would have never found if I just sent a design to and overseas manufacturer. Some things you just don't know until you make it. Import product, realize an issue only after you have touched it and now you're screwed. Also quality is one of my most important aspects, something I realized I could not really get with overseas. Classic example are bro-marketers importing electronics products and have no idea how a damn light bulb works.

Cons of in-house as you can already see are high investment costs.

If you noticed from better products, they always say "Designed in San Francisco" or something like that.

TLDR;
1) 100% control of design process
2) Not locked into manufacturer MOQ
3) Higher quality
4) Discovering design flaws by truly understanding everything that goes into the product.
5) Fast Iterations
6) Not empty handed with investment. You own a business machine that is valuable. In contrast to buying 100x of failed product. Might as well burn your money.

 

[Strategery]

When importing you are locking to the manufacturer's MOQ.

I'm definitely NOT in the know, but I thought this was negotiable to some extent?

 

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[DeletedUser0287]

I'm definitely NOT in the know, but I thought this was negotiable to some extent?

Maybe some of them will budge? I haven’t spoken to any that have though.
I don’t blame them though. When making my own product, it really isn’t cost effective to output low quantities. But then again, I’m prototyping. If they do, the price per unit will be so high, it wouldn’t be profitable.

 

[Bertram]

Do I have to risk my life to get a move-in ready home? Seems like it.

I’ll just save up some more through slowlane style.

If you need to stay in that vicinity the opportunities probably are scarce.

Nightmares are more common in Connecticut:

Investor Special--Discounted Price

SF home available. Charming Cape in nice area that needs some love! This home is being offered at a discounted price for a quick sale and won't last long at this price. It features a one car attached

hartford.craigslist.org

*mold in home*

 

[DeletedUser0287]

If you need to stay in that vicinity the opportunities probably are scarce.

Nightmares are more common in Connecticut:

Investor Special--Discounted Price

SF home available. Charming Cape in nice area that needs some love! This home is being offered at a discounted price for a quick sale and won't last long at this price. It features a one car attached

hartford.craigslist.org

*mold in home*

LOL, yeah that is a problem... New Britain ain't too hot of a place either. Only one leg of the triangle on that deal...price. Its a cash deal though.

The property I was looking at was actually worse condition, but it didn't have mold.

After taking into consideration the comments in this thread, I will most likely save up for a home around $150k range instead of renovating.

 

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[Bertram]

It's fine to hunt.
Here's 12 acres by the ocean for 15K.
Let's try to Google Earth it and take a look at the neighborhood...
It's adjacent to a gravel pit.

 

[DeletedUser0287]

Just took a look at homes, yeah those cheap foreclosures homes are absolute thrash. Inhospitable. I’d say like 70k+ in renovations.

Wish I had the damn money and room to run my business. Sigh

 

[broswoodwork]

Just took a look at homes, yeah those cheap foreclosures homes are absolute thrash. Inhospitable. I’d say like 70k+ in renovations.

Wish I had the damn money and room to run my business. Sigh

Is the manufacture of your product temperature sensitive? (I feel like I've asked this question before...)

If not, https://www.amazon.com/dp/B07XFZMHD2/?tag=tff-amazonparser-20{creative}&hvpos={adposition}&hvnetw=o&hvrand={random}&hvpone=&hvptwo=&hvqmt=e&hvdev=m&hvdvcmdl={devicemodel}&hvlocint=&hvlocphy=&hvtargid=pla-4583589107527714&psc=1

Pop it right in your folks backyard!

If it is temperature sensitive, https://www.lowes.com/pd/Dyna-Glo-D...41&gclid=CIaIqumWnOUCFW0DiAkdlS4Asw&gclsrc=ds

If you're working with flammable liquids, disregard all of the above. Possibly disregard all of the above anyways.

 

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[DeletedUser0287]

Is the manufacture of your product temperature sensitive? (I feel like I've asked this question before...)

If not, https://www.amazon.com/dp/B07XFZMHD2/?tag=tff-amazonparser-20{creative}&hvpos={adposition}&hvnetw=o&hvrand={random}&hvpone=&hvptwo=&hvqmt=e&hvdev=m&hvdvcmdl={devicemodel}&hvlocint=&hvlocphy=&hvtargid=pla-4583589107527714&psc=1

Pop it right in your folks backyard!

If it is temperature sensitive, https://www.lowes.com/pd/Dyna-Glo-D...41&gclid=CIaIqumWnOUCFW0DiAkdlS4Asw&gclsrc=ds

If you're working with flammable liquids, disregard all of the above. Possibly disregard all of the above anyways.

I appreciate the help, but yeah this has got to be indoors. Especially winter coming around. I’m just gonna accept the fact I don’t have money. Now applying for a 2nd full time job...I have to pause of business for now until I can afford it.

 

[broswoodwork]

I appreciate the help, but yeah this has got to be indoors. Especially winter coming around. I’m just gonna accept the fact I don’t have money. Now applying for a 2nd full time job...I have to pause of business for now until I can afford it.

Yarrrrrg!

 

[broswoodwork]

Work inside here:

Log into Facebook

Log into Facebook to start sharing and connecting with your friends, family, and people you know.

www.facebook.com

And power your heart and tools with this:

Log into Facebook

Log into Facebook to start sharing and connecting with your friends, family, and people you know.

www.facebook.com

Insulate the walls with this:

Military Surplus Disaster Blanket Grade 1 Wool Blend Gray

These Disaster Blankets are a necessity for Campers, Hunters and Outdoorsmen alike. Consisting of a 30% Wool, 70% Synthetic Blend; these blankets have...

ads.midwayusa.com

Set the whole thing up in a $100/mo landscaper lot parking spot. (Zoned industrial, so do whatever you want with owner permission)

Sell from a ups store address, so you don't look like a guy who sews things in a shipping container.

 

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[Dan_Cardone]

Work inside here:

Log into Facebook

Log into Facebook to start sharing and connecting with your friends, family, and people you know.

www.facebook.com

And power your heart and tools with this:

Log into Facebook

Log into Facebook to start sharing and connecting with your friends, family, and people you know.

www.facebook.com

Insulate the walls with this:

Military Surplus Disaster Blanket Grade 1 Wool Blend Gray

These Disaster Blankets are a necessity for Campers, Hunters and Outdoorsmen alike. Consisting of a 30% Wool, 70% Synthetic Blend; these blankets have...

ads.midwayusa.com

Set the whole thing up in a $100/mo landscaper lot parking spot. (Zoned industrial, so do whatever you want with owner permission)

Sell from a ups store address, so you don't look like a guy who sews things in a shipping container.

Pretty resourceful

 

[broswoodwork]

Pretty resourceful

You should see how I jump started my gig after a layoff.

The two options I hit @MoreValue with look absolutely class A Manhattan compared to my inner city tool shed with a skunk living under it.

 

[ShamanKing]

I’ve had numerous encounters with Individuals who fixes house then flips it. The most common thing I get from them is, I can’t hire others to do it because they do not do a good job like I do but hey the money is great. Time.

 

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[DeletedUser0287]

You should see how I jump started my gig after a layoff.

Interested

 

[DeletedUser0287]

I’ve had numerous encounters with Individuals who fixes house then flips it. The most common thing I get from them is, I can’t hire others to do it because they do not do a good job like I do but hey the money is great. Time.

Can't expect anyone to care as much about your fixer upper as yourself.

 

[broswoodwork]

Interested

You get your thing going any way you can and we'll share war stories and pictures of our humble beginnings at the 2021 Fastlane Summit.

 

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[Bertram]

You should see how I jump started my gig after a layoff.

The two options I hit @MoreValue with look absolutely class A Manhattan compared to my inner city tool shed with a skunk living under it.

You need to tell your story here @broswoodwork.
Wait I mean we need the story.

 

[broswoodwork]

You need to tell your story here @broswoodwork.
Wait I mean we need the story.

I did start a progress thread, once upon a time, but until recently I've been stuck in a weird on the gas/ off the gas pattern. It's a little boring, but I'll fire it back up after my next move.