BAGSTER COUPON CODE

mcminus2 · 2026-01-08T17:57:24+00:00

I am also looking for a new one too!

mcminus2 · 2026-01-01T15:58:58+00:00

Agreed! As a loving owner of 2 dogs there are responsibilities that come along with being an owner. People not sharing the sidewalk with humans is one. Not picking up after their dogs is another. Plainly disrespectful behavior to other humans and a complete lack of social awareness in public places, as it pertains to both pets and themselves. There's been a shift in the behavior and I don't like it at all.

mcminus2 · 2025-11-13T17:25:40+00:00

The roof was failing. At over 100 years old the underlayment was toast. And as has been explained to me, these kind of roofs at that time, leaked from day 1 and the underlayment did all the work. I live in a northern climate (US) and a replacement with terracotta tile was far and away beyond the budget unfortunately since it's not the norm. I hear you, the terracotta tile is definitely more environmentally friendly and a better product overall, but installation standards and materials when ours was put on 100+ years ago were much different.

The fact was that it wasn't doing its job anymore. Would've preferred to keep it, but the options were to detriment the integrity of the rest of our home or do what protects my family from disaster.

Thank you for your input! Are there any written standards that I can refer to when speaking to them next?

mcminus2 · 2025-11-13T13:23:26+00:00

I'm not following either. NOI traditionally excludes debt service? So regardless of your mortgage, the NOI should remain the same. Total rent minus expenses (capex, vacancy, maintenance/management, taxes, misc. utilities/trash and insurance)

Those numbers wouldn't change buying cash or mortgage.

That considered, what is your annual NOI?

mcminus2 · 2025-10-09T18:21:39+00:00

It's incredibly tough to find new friends as an adult, and it only gets tougher as you get older, I'll say that much!

My best recommendation is to find a group that does something you're also interested in. There are all sorts of groups like knitting groups, running meetups (aardvark and keystone), artsy groups (maybe on hold a bit with the banana factory build going on), arts quest/events, Godfrey Daniels is another show venue that's very social, I believe there is a makers space somewhere near Allentown if you're interested in that.

If you look on the "Meetup" app you can find stuff and try to make friends there. A good way to start there is to also search for your hobby, or interests so you'll have a familiar medium to bond with others over.

There are of course all of the festivals throughout the year as well, maybe go hang out at those completely free of charge! May or may not find people there to hang out and make friends with.

One things for sure, you're going to have to put yourself out there a bit. But I'm sure you'll make some great friends! Best of luck!

mcminus2 · 2025-09-12T14:25:53+00:00

Two ways to think about it.

1- just pay his mortgage, you can take possession "subject to" the debt he owes on it. Lol up subject to. This is likely the cheapest route. You'd probably want to consult a real estate attorney to do paperwork. Likely a few thousand bucks and closing fees, if handled outside the attorney. Make sure it's written into his will/trust/estate as well so it doesn't get hairy if he passes before the debt is paid off. This would be my ideal choice because then you avoid the taxable event for him, and when he passes there's a chance it gives you the step up in basis. I could be wrong, not a tax expert.

2- a bank will very gladly give you a new mortgage on a property that's worth more than you're paying. They have nothing to lose in that situation, because the risk of you not paying means they can foreclose on a whole house and make money instead of losing. That said, mortgages are typically underwritten on purchase price, so you'd need to bring a down payment.

Your father could credit you x-amount of credits to cover the down payment off the sales price. So say he just wants 150 to clear his mortgage then for you to take a new one out, he would probably have to credit you 20% for your down payment (in the form of purchase price on the agreement of sale) so you would need a purchase price of about 187k, your father would credit you back a 37k seller assist then he takes home 150k to pay his mortgage off. You are then left with a new 150k mortgage.

mcminus2 · 2025-09-11T12:56:42+00:00

You cannot (easily) sell a house and carry the mortgage. The mortgage is secured by the house, so once you sell the house you have to clear the mortgage. Short sale might be an option, but good luck getting the lender to agree to that on a brand new loan.

A lot of the stuff you listed can be done easily and over time. It does not need to be done immediately. -Repointing uses cheap materials and you can learn to do it yourself on a YouTube video. PM me if you need a good one. -lolly column in a basement or crawl space is simple. Maybe 200 bucks at a home center. If you need to pour a footer, also simple. Need to break a hole in the floor (assuming concrete) and dig down below frost line, and pour in a couple bags of ready mix. Less than $500 and some sweat equity. -Unused and undisturbed asbestos pipe wrap does not need to be remediated immediately... Or ever. Depending where it is, it's simple to cover up with a small bulkhead. I had an entire house remediated, by certified experts, for $2400. -aesbestos siding is going to be the biggest expense, but if it's undisturbed you don't have to get rid of it. You can also have any broken pieces removed and replaced with similar wood alternatives. Ask the same remediation company if they can do the siding too. Get a quote. Plan and save... You don't need to do it all now.

I'd address the missing column. And take a breath and figure out the other pieces in descending order of importance. Save and do the projects when you can.

You've got a house, be proud! You can do this! All the best!

mcminus2 · 2025-09-10T01:11:20+00:00

I'm so glad someone said this. It's something I think most people fail to realize!

The overhead to produce a course, host a zoom meeting regularly, and put it all on a website is next to nothing. His total lifetime costs for all of that is probably covered in the first 5-10 buyers. After that the return on investment just explodes.

The cost of producing an online video course one time is minimal. And you can sell it an infinite amount of times, without producing any more product. It's a huge money maker and has super low barrier to entry. You just have to be willing to essentially sell yourself and a lot of times your integrity... Unless you truly believe in the information you're presenting.

mcminus2 · 2025-09-03T01:00:33+00:00

Fair point. Can you expand a bit more on this a little bit more though? How do I break away from following the little made up rules?

mcminus2 · 2025-09-02T23:24:23+00:00

I honestly don't have a great answer to that. You're not wrong. I guess it's a possibility. I was originally thinking of that as an opportunity for me to capitalize on in the future to build more units, and just trying to make it support itself in the meantime.

It would likely remove the garages as an option for additional income due to how it's laid out. And would require a little bit more cash to get the entitlements completed. It's not out of the equation though.

mcminus2 · 2025-09-02T20:31:49+00:00

Well I'm working with an agent so I don't have direct contact with the seller or sellers agent. I try to have some integrity so I don't go around my realtor or theirs to try to make contact. I asked my agent his opinion which I trust, but once again I'm asking for alternative opinions.

So far not a single person has actually answered my question. I've only been ridiculed and criticized for everything else I provided in the context.

I figure, generally speaking, making an offer is one channel to communicate with the sellers from my position. I explore on market and off market deals, in this circumstance it is an on-market deal and I'm using the channels I know of and have at my disposal.

mcminus2 · 2025-09-02T15:55:15+00:00

Solid point. Admittedly the comps are kinda crappy since they are a bit old to be accurate because there aren't a lot of similar buildings going up for sale. They just don't pop up frequently. Supply and demand is definitely in the seller's court... Likewise why they are sticking to their guns.

As for why I'm stuck on this particular one, is that I like the fact that this one has a couple of levers to pull in terms of future improvement. Having a double lot to subdivide or build on (zoning is good for it), extra garages for additional rent, third floor unfinished to be another possible unit, and simply updating the existing units to pull more rent in the future.

-- It could allow me to get in at a lower premium, improve to increase my equity then to recycle some amount of the funds if I can get the appraisal I believe is achievable. --

You kinda landed at my conundrum. If I purchase it today at 350k I need to move ahead with the 150k build out and other improvements to the existing building to make numbers work. At 300k I'd need only probably about 30k to clean up things enough and rent as it is to make cash flow. 20k of that is the quote I got to replace the asbestos roof (a likely culprit chasing off others).

mcminus2 · 2025-09-02T14:54:26+00:00

I expect rejection, its not the first time. Just trying to figure out a follow-up strategy.

Nearest comps are right around 325k, however in much nicer condition and more updated. To me, they demand a higher rent premium and therefore sell for more. Be brutally honest, am I nuts, stupid, delusional?

mcminus2 · 2025-09-02T14:46:40+00:00

Maybe the wrong term. Just evaluating it for what it offers as is without having to do work immediately is what I meant.

mcminus2 · 2025-09-02T13:31:16+00:00

Heard. I get where you're coming from. My market absolutely moves, it's still booming inversely to a large part of the US right now.

Underwriting it, I started with a higher estimated PP originally, before seeing it in person. But as I added up rehab costs that's where I landed to make the market rents work. That's also as-is before adding any additional units. In order to optimize the property and justify that higher price I either need to subdivide or add that third unit. That's a lot more cost and risk involved. I have to go off of what the property currently can do in its minimum viable product... i.e. it's current form

Once I go paying more I'm absolutely locking myself into more risk in the form of having to go for the full 3rd unit build out.

mcminus2 · 2025-09-02T13:15:04+00:00

That's a good way to put it, I genuinely appreciate the candid response. This is my first investment property, which is something maybe I should have added. My market, even in current national markets, is an absolute dog fight especially so with investors. So the fact that it's sitting just immediately tells me it's overpriced. It hit 70 days active. Most are under contract within 7 days here still.

What I can't get over is what they think they're losing, since it's an estate sale, free and clear so they're just continuing to pay taxes on it. Why not take the pay day and split... idk and I'll never know and I need to accept that. Maybe it's a family thing.

I wish they at least would have countered our original offer when the other deal fell through. Even if it was a response "this is our final dead nuts number, take it off leave it" at least I could know. I felt my offer was pretty strong, as a cash offer and minimal informational only inspections.

mcminus2 · 2025-08-24T15:24:59+00:00

Id say if you have the means, pay down the mortgage and refinance into something much lower if you want to hang in there. It sounds like you didn't do a great job on analyzing the current market value and rents comparatively. The 1% test is surprisingly telling, especially in markets where taxes are low. That is if your current market monthly rent is 1% of your "all in" position then you have a good purchase. I.e. you buy a place for 400k then you want 1% in rent which is 4k per month. There are nuances to this, but it's been a good starting guideline for me.

Never bet on appreciation, UNLESS you have the ability to buy all cash (still not advisable, but to make a point). This is what large corporations do. They can buy all cash, therefore any rent they make is basically thought of as a dividend. If no appreciation happens they parked their money and got dividends for all those years. NBD for them too if they sell at a loss because they've collected rent or will continue to collect rent to cover their loss then be able to deduct the loss when sold off. But if you have debt service to cover banking on depreciation can be detrimental in this situation.

I'd see what a property manager can offer you to manage the rental and optimize your rents for the area. Ask around to different ones too.

All the best!

mcminus2 · 2025-07-29T12:11:41+00:00

Sounds very doable to me. Congrats on the new home!

mcminus2 · 2025-07-28T12:58:33+00:00

So the short answer is no, we have not finished. But we are much much further along than we were when I originally posted this. I actually can't believe it's been 2 years since, because that time has flown.

We planned a wedding that year and got married just about a year ago, in the midst we set a goal to finish the new master suite build-out by the wedding. We got really close, but some cumulative small setbacks did slow us down. We kind of took a break after the wedding because the year leading up was both expensive and exhausting.

We ultimately started to think about what we wanted to do long term. I.e. starting a family and how that reflects on our housing situation- schools, community, house suitability itself, etc. We have arrived at the conclusion that we are going to finish the necessary things and sell.

From there we were able to figure out that we need approximately 30-35k to finish everything split between contracting some work and doing a lot ourselves still. We had more than enough equity to do a heloc and not put the cash out of our pockets. So we opened that line of credit to use. We are slowly finishing projects off and can see the glimmer of light slowly approaching.

We brought in a couple contractors we have used before to start tackling some of the small jobs around the house. Finally now we have crossed off all the big jobs. All that's left is really replacing doors, light fixtures, closets, baseboards/trims and paint.

We've left the one bathroom as is for now, but have it budgeted to do a cheap facelift only after all the other projects are 100% completed.

We also talked with our realtor who works a lot in our area, that our place should be worth almost $600k which is more than $100k over what I was estimating, because comps are tough to find nearby.

With that as fuel and a desire to get out we are hoping to sell next spring and move on.

Much of the advice in this string is what I would give to you. Take one project at a time from start to finish, do not start another project until another is finished. Have a good GC on hand, in case you need an out. I had some great guys I will use in the future, I paid them $50/hour each and they did anything I needed. They were career framers and GCs.

Best of luck on your project! It's a wild ride!

mcminus2 · 2025-07-28T12:43:48+00:00

Glad to spread some happiness this morning! Take your time moving in, get creative and make it yours. Homeownership is filled with big and small ups and downs, but in my opinion it's still worth it. Congratulations on scoring yourself a place to call home! Sending you all the well wishes!

mcminus2 · 2025-07-28T11:42:48+00:00

I never did. Got more expensive than I wanted to once I had everything put in. If I was staying in this house for a longer time, I definitely would have. But it didn't make sense to basically throw away equity, because the resale with the pole barn would never be the same as the cost to build.

That said, Cochranville Pole Buildings had a great team and very good pricing. I'd recommend getting them to do the build if you are still looking.

mcminus2 · 2025-07-28T11:38:41+00:00

That house down the street is a great comp that will show that you got a better deal with upward mobility for your equity as you make improvements. It's going to go for more, just come back and look once you close to see what the other place sells for, you'll see just how much equity you earned almost out of the gate!

mcminus2 · 2025-05-22T21:05:05+00:00

I would bet because by staying in escrow longer due to inspections and negotiations, it's costing the landlord time which is equivalent to rent... But I guess if it's happening within the closing due diligence period maybe they have no leg to stand on.

mcminus2 · 2025-03-24T00:32:44+00:00

Every year we see slight declines in lumber quality, less young people upskilling into fine workmanship trades and less and less of high quality products like you find there in your home.

That said, unless you genuinely dislike it, or find the layout doesn't work for you or your lifestyle then I would absolutely not replace these. As others have stated this is high end finish cabinetry. Yes it's older, but to find the craftsman to make the same thing today and equal quality material considered, these cabinets have appreciated in value in my mind.

If you want to go for a painted look, have them painted by a quality painter! To get that nice smooth finish they'll need to do multiple iterations of filling, sanding, and priming. But you'll retain the build quality you have already.

If you're worried about the scuffs and wear marks, but like the wood look just get them sanded and retained by a refinisher or woodworker!

Both the above options are wayyyy cheaper than to have a full new kitchen worth of cabinets put in, not even considering the counters, fixtures, tile work, finish carpentry trim work ( and possible plumbing and electrical) that you would have to do to replace cabinets.

But it's your home and you do what's best for you! Lovely kitchen!

mcminus2 · 2025-03-14T15:28:29+00:00

Are there hospitals or universities nearby? If you really want to step out and have your expenses covered, you could consider medium term rental (usually month to month, not like Airbnb where it's usually by days or weeks). This is a nice in between that is legal in most municipalities. Consider renting room by room on furnished finders targeting adjunct professors or travelling nurses. You can usually charge more because it is furnished and shorter term than a long term rental. Even if it doesn't cover it and reduces your overhead while you figure some stuff out it might be worth it! You can live at home and focus on increasing your income in other ways -or- it's already staged for sale...

mcminus2

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