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  1. #11
    NodakPaul's Avatar
    NodakPaul is offline Jersey Retired
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    Re: Money Pit or wise investment

    "BadlandsViking" wrote:
    Don't replace glass in a window, repalce the whole window
    Out of curiousity, why not?
    We just ahd a window break in our house and I need to get it fixed.
    Zeus wrote:
    When are you going to realize that picking out the 20 bad throws this year and ignoring the 300 good ones does not make your point?

    =Z=

  2. #12
    mountainviking's Avatar
    mountainviking is offline Team Alumni
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    Re: Money Pit or wise investment

    Another concern is mold.
    In addition to the insulation problem, there may be mold issues in the walls, ceiling etc.
    An inspector should have devices to check.
    IDK, maybe the situation in MN is different, but our here in CO mold can be a huge issue.
    The outside of the building, IMHO, is most important...the roof and siding etc should be totally sealed!
    Of course, being that old, you'd want to make sure there wasn't a long period of neglect way back somewhere.

    One of my neighbors started a "simple" remodel of his new house and ended up basically rebuilding that part of the house.
    Tearing out old insulation, cleaning and in some places replacing the framework and removing mold, disinfecting, reinsulated, and finally refinished.

    You certainly could find a deal with minor work needed, but you also might find that things that are too good to be true usually are what we thought they were.


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  3. #13
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    Re: Money Pit or wise investment

    Yes, it is a bank foreclosure.
    We are going to have a licensed inspector come thru as well. In fact, it's a requirement for the type of loan we are applying for. As for cheap, not really, at $350.
    The rooms are really good size. The only one we want to be big, is the master bedroom. We are thinking of going from a queen to a king size bed. Our boys(10 months, 3yrs. old in 6 days) don't need alot of room really. Currently, they are only in their room for naps and night sleeping.
    I drove by, and the windows look decent, as in not the originals, like i thought.
    There is no way we are going to replace the whole window, just because the glass breaks. We could have the glass made and installed for less then $200 i think.
    The ribbon is the 'Gulf War Ribbon'.
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  4. #14
    Purple Floyd's Avatar
    Purple Floyd is offline Jersey Retired
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    Re: Money Pit or wise investment

    "STCLOUDSAYSGOVIKES" wrote:
    Thanks for the advice. A few things to cover:
    -We have a block layer, roofer, an HVAC guy and elevator guy in the family, so doing it myself and with help from family, isn't an issue. Not only that, but my uncle owns a construction company.
    -I'm not sure about the weights on the windows. I don't believe there are, so it's possible they aren't the original windows, but old none the less
    -All i want to do for the kitchen remodel is knock out the center island, and a corner triangle wedge. I'm not talking going down to the studs or anything.
    -We will be living in it for at least 5 years. As long as it's safe, much much longer.
    -We don't plan on remodeling anything else, and may not even do the kitchen.

    +This house, is only $77k. It's a block away from the park, for my boys. 2 2 car garages, so i will likely rent out one, use the other, and my dream is to get a little mg or fiero.
    +It has a patio for sitting outside, and grilling. Good size trees for shade in the summer, and i would much rather open windows then turn on an a/c unit or the central air.
    +The house was just sold in '06 for $171k, so i assume the heating, plumbing, and insulation are adequate.

    I'm going to see if i can get into it sunday, and have my dad inspect whatever needs to be looked at. He's not a licensed inspector, but he can def. give us an idea of what we are getting ourselves into.
    If you have an uncle who has a construction company he will be your best resource to take to the house because he will see things most other people will miss, plus he can give you a pretty knowledgeable opinion on the current value of the home, what the costs would be to upgrade what you need to, and whether that value would be able to be recovered at a later date.

  5. #15
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    Re: Money Pit or wise investment

    The issue, is that i only ever see him at holidays. Why i even mentioned him, i'm not sure.
    There have been 3 offers made on that house, and 1 on another house. The other house is much newer, but needs a good amount of work as well. Included in that, is the rest of the cabinets, a stove, trim work on the floorboards and some other stuff. Besides that, the asking price is $12k more. :'(
    The ribbon is the 'Gulf War Ribbon'.
    SUPPORT OUR TROOPS!!

    -I need a new liver. Please join us for a spaghetti dinner and silent auction benefit.
    -January 13, 2013 1-4.
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    -Anoka American Legion.

  6. #16
    BadlandsVikings's Avatar
    BadlandsVikings is offline Jersey Retired
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    Re: Money Pit or wise investment

    "NodakPaul" wrote:
    "BadlandsViking" wrote:
    Don't replace glass in a window, repalce the whole window
    Out of curiousity, why not?
    We just ahd a window break in our house and I need to get it fixed.
    Newer windows have e-glass wich helps with insulation.
    In older houses the windows down't have that, that's why so many need storm windows.

    Depending on the window you have you can get the replacemnt glass with the gas in between the layers of glass

  7. #17
    NodakPaul's Avatar
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    Re: Money Pit or wise investment

    "BadlandsViking" wrote:
    "NodakPaul" wrote:
    "BadlandsViking" wrote:
    Don't replace glass in a window, repalce the whole window
    Out of curiousity, why not?
    We just ahd a window break in our house and I need to get it fixed.
    Newer windows have e-glass wich helps with insulation.
    In older houses the windows down't have that, that's why so many need storm windows.

    Depending on the window you have you can get the replacemnt glass with the gas in between the layers of glass
    Ah.. Well our house is only three years old, so I am hoping we only have to replace the glass.
    Zeus wrote:
    When are you going to realize that picking out the 20 bad throws this year and ignoring the 300 good ones does not make your point?

    =Z=

  8. #18
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    Re: Money Pit or wise investment

    One thing to consider is if this house is in a designated "Historic District".
    I live in the St. Cloud area and have heard of some horror stories of people who bought these houses and tried to fix a few things up, only to have to spend much more than they thought because they have to meet certain conditions.
    (The house must maintain it's "historic look, be it windows, doors, etc.)
    I don't know for sure the conditions, but I would talk to your realtor if you are using one.
    I'm pretty sure the seller (bank) must disclose this.

    This link may help
    http://www.ci.stcloud.mn.us/planning/herpreserv.htm ,

  9. #19
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    Re: Money Pit or wise investment

    From the sounds of things buying any property in the states right now is a good investment.

    There's no better time to buy than in a recession, so long as you yourself can afford it.

  10. #20
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    Re: Money Pit or wise investment

    "singersp" wrote:
    "STCLOUDSAYSGOVIKES" wrote:

    Does anyone here have any experience fixing up a house, for you to live in? By live in, i mean compared to reselling right a way, or renting it out. This house doesn't need much at all:
    1. A new closet door
    2. Sheetrock, mud and tape a 10-12' square patch of the ceiling in the kitchen.
    3. Stove,fridge, dishwasher and over the range microwave, with the last 2 being wants not needs.
    4. Glass in a window replaced.
    There is almost nothing I haven't done in the lines of remodeling.....

    [img width=450 height=298]http://i16.photobucket.com/albums/b21/singersp82759/cabin/Cabin_1.jpg[/img]
    [img width=450 height=300]http://i16.photobucket.com/albums/b21/singersp82759/cabin/Cabin_2.jpg[/img]
    [img width=450 height=300]http://i16.photobucket.com/albums/b21/singersp82759/cabin/100_0582.jpg[/img]
    [img width=450 height=300]http://i16.photobucket.com/albums/b21/singersp82759/cabin/100_0585.jpg[/img]
    [img width=450 height=300]http://i16.photobucket.com/albums/b21/singersp82759/cabin/100_0586.jpg[/img]
    [img width=450 height=300]http://i16.photobucket.com/albums/b21/singersp82759/cabin/Cabin_4.jpg[/img]
    Yeah and you did that how long ago? its still not finished and the crap from the remodel is still not picked up,but I already know your response to this.




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