저자: Kevin · 외국인
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Matt Risinger의 1970년대 텍사스 오스틴 임대주택 리모델링 영상을 리액션한 콘텐츠. 임대용이므로 과잉 투자(창문 교체, 샤워부스 설치, 지붕 개조, 파사드 변경 등)는 수익률을 떨어뜨린다고 비판. 예산 약 8.5만 달러 기준으로 점검하며 외관·배관·가구 등 항목별 비용을 산정. 증권 자산에 대한 가격 예측 발언은 없음.
다듬은 글
Exit. I've had enough. I can't watch this anymore . I started this thinking I would see Matt Reisinger too. Welcome to another Meet Kevin reaction video. In today's video, we'll watch a video from someone I respect a lot. When I was a licensed contractor and doing it full time, this YouTube channel was my idol.
I watched every video posted. Well, today this pro has turned into a novice. And in today's reaction video, I'm going to tell you about the rookie mistakes that Matt Reisinger of Build Show unfortunately makes on rental properties that he buys, claiming he's going to do renovations on them. Here's what we'll do.
We will watch this video. We will respond to it. And while we watch and react, I'll put together my own California budget for this house in Austin, Texas. Let's learn some lessons about real estate. And remember, if you want to learn more about real estate, you have plenty of option or in- person meetings listed below.
I will be in Austin on September 14th. And don't forget to use promo code 10x2020 for the online real estate investing course, online sales course, or the 10X event in February. As a builder and renovation contractor, I hate those TV shows that create false expectations in the general public. You know, after watching some shows, you might think you can renovate a kitchen for 15 grand and do it in two weeks.
The Build Show most of the time on my When I do a kitchen renovation, I do it in two weeks and usually for a lot less than $15,000. So, not exactly sure where we're going, Matt, but let's see what's going on here. My projects are homes that cost between $2 million and $5 million, but in this Build Show series, we're going to be renovating this 1970s house, and we're going to do it on an average American budget .
I'll show you the real costs, and we'll show you how to do it right, not just the "cosmetics" they show on TV. We will call this series " Real Repairs". Let's go. I am delighted. Here is the situation. A 1970s house that has been pretty seriously neglected over the last 20 or 30 years. First of all, I always include window washing and screen repair.
just cleaning the windows, guides and working with all the nets. I'm going to invest, it won't be cheap, but I'll spend 500 bucks on it. Now I'm also going to pressure wash the facade, because it's definitely necessary. Um, and most likely we'll end up painting the exterior, and I'll want to do some landscaping up front.
So , I'll probably do a combination of mulch and sod here in the front. Looks like we're going to need a new garage door. I see it. Look at that deformation on the left. So, a garage door with installation will cost me around 1,100 bucks. Landscaping is up next, let's put down 2,500 bucks. Exterior painting.
I could probably paint the exterior for 6 grand. Maybe even less. He is in bad shape. So, we're on my street. Actually, I live right around the corner from here. And this is a property that I actually...Oh, I need to add a mailbox quickly. So, we are talking about the budget here. This is actually my bank account.
So I will make those tough decisions about where to spend money and where to slow down. What I see here is, to be honest , three days of work by one man, a good carpenter, replacing all the rotten boards and siding here on the outside. So let's add that to the budget. 500 bucks per day per person and...3 days, 1500 bucks.
Let's add another 1,000 bucks for materials. This will bring us to about $2,500. Let's call it wood repair. I'll just double that amount for reinsurance because of the sheathing and all the rot or termite damage, whatever it is . Let's just put five thousand on wood and rot repairs . By the way, analyzing such deals is something I do twice a week on our closed streams in the real estate investing course.
It's so cheap for what you get, and people love that kind of insight. I hope you enjoy it on public YouTube as well. Maybe we'll make more videos like this . We'll keep an eye on Matt Risinger for a while longer. And remember, you can always send me a reaction video. Now, this house will be rented. I wo n't actually live here.
I will use it as a VBO. Now about the garage doors. Not sure what happened here, but they're not working right now. The cables inside are broken. And it seems like, oh, that's immediately minus $1,500–$2,000 from the budget. A small drainage system from a hardware store. I bet , Mette's homeowner, $1,500–$2,000.
This is a bit like a rookie mistake. In my opinion, this means that you put a garage door with windows. Again, this is not required for rental housing. Remember, in a rental, only what increases the rental value creates value. It is always important to clarify: we do not sacrifice quality. We sacrifice the product itself.
No windows . I spend less money. I'll still install these garage doors with quality, but I don't need the windows. But what I will definitely do now is install gutters around the entire perimeter of the house. In California, we don't usually install gutters because it hardly ever rains here. But let's just budget $3,000 for it.
So, so far, well, not so bad. Our budget is $18,525. We still need to get the backyard done , so let's do that too. Backyard landscape design. Let's just add another three thousand to the backyard. The fence is in bad shape, but look at this gardening shed. It's pretty ugly in the back here . Okay, let's include the barn demolition here.
And it looks like we'll have to repair the cornice boards. Let's say we'll put $1,000 down on the repair of the eaves for reliability. Another thing I noticed is we're going to have to do some fence repairs. I wouldn't replace it. I would do some minor repairs and then paint the fences. So, let's allocate $1,000 to paint the fence.
Uh, just regular facade paint. You can easily apply it with a roller or sprayer. One side will be enough , it doesn't matter. Uh, and then the fence repair. Let's just increase our lumber budget by $1,000 so that the handyman who deals with wood and rot can also fix the fence at the same time. This may take another day and a half plus some materials.
Oh my god, look at this old equipment. It looks very old. I've never seen one this small before. Not sure how old he is, but he looks like he's 25, no less. It looks like it might need to be replaced. No, no, no. What are you talking about, Matt? Wait, no. Who cares if it looks like it needs to be replaced?
Turn it on. If cold air is coming out, there is no need to change it. I mean, this is rental housing. If there are problems, solve them. Of course, this doesn't mean that you don't need to check security. This does not mean that you should not call an air conditioning technician to refill the devices.
But that's the most I would do. So I'll say this: charging two devices plus calling a technician. I would boldly name the amount $250. Who am I trying to impress? At people walking past the yard? Who cares? If it's blowing cold and it's safe—leave it as is. This terrace is in terrible condition, completely dangerous.
It's amazing that I haven't failed yet. Instead of doing a wooden deck again, especially in Austin, Texas, where it's more humid and hotter than here in California. I would make a concrete step and a concrete platform. A 10 square meter area and a step down. That's all. I definitely wo n't put a tree there.
Dismantling the terrace. Let's add a corridor here. Costs always accumulate . A thousand dollars. But let's take into account all the concrete work and finishing. I'll raise it to 300. I think this house will also need new windows. And those sliding doors are just awful. These are all single aluminum frames from the 70s.
Original. There is also a problem with splashes here. This siding is T 1-11. No, Matt. No. No. Who cares that they are made of single aluminum? Actually, wait, wait. Listen, wow. Single aluminum is great. Why is it great? Because this is not a rotten tree with single glass. At least it's metal. Do you know what you can do with a lot of these metal sliding windows?
Clean the guides. Spray some WD-40. Make sure the locks are adjusted . That's all. And you know what? The windows are working again throughout the house. This is rental housing. And in your case, it's a daily rental apartment. Do you think people who come to relax will say: " Oh, the lack of double glazing greatly increases the cost of air conditioning"?
They don't even pay for air conditioning. This is what I call " brokering at home." This is when people come into a house and say, "Oh , this is damaged." You know what? We will have to replace all the cladding. Since we're already doing this, we can replace the windows right away. You can also insulate everything again .
You know what? Let's just do the waterproofing. You know what? Let's just rebuild this damn house. But at least try to check those windows and sliding doors. You say they're terrible, but I do n't believe it. I bet these windows and doors are in good condition. At least most of them can be saved, they are quite usable.
Pretty bad. And the backyard is completely overgrown and looks terrible. Okay, let's go inside and take a look. Oh, great, those sliding doors work well. Now let's determine the budget for interior painting. I'm planning on spending $5,000 on interior painting, but there are probably asbestos acoustic ceilings here too.
So I'll put it this way: for acoustic ceilings —to remove the layer, apply a new texture, and paint—we'll need about $3,500 in total. I think that's a bit overkill, but it should be enough. Now, in the painting budget, I also want to include removing wall panels and repairing drywall. This will need to be done to get rid of any glue residue.
If it needs some putty or patching up holes, we'll do it. Let's just increase the budget for security. Let's say it's $6,500 for interior painting. By the way, I will also include the fireplace and mantel in this painting. So I would make the shelf a contrasting color . Here is an example. I wouldn't do this paneling or put fancy tiles here.
I would probably just paint the brick as is . I know a lot of people don't like, "Oh my god, you painted the brick." But you know what? This is rental housing. Here's another quick example of the result I wanted to show. This is a rental property that we just finished. You see, we left everything we could, like the original doors, and just replaced the hardware.
But please note: we left the original wooden windows. I used paraffin wax to clean up the edges nicely. And they look beautiful. They are cute. They are functional. And in general, how often do people use absolutely every window in the house, you know? Jicky7s doors. They definitely need replacing. This is normal.
The front door is right behind me. A typical 70s house here in Texas. We have a concrete slab at ground level. Original ceiling with " popcorn". How can you not love that? And here are the original panels in this area. There was no carpeting when I bought the house. So I guess the carpet was in even worse condition here.
Keep in mind, a lot of people say, "Oh, Kevin, if there's no carpet, I can't take out a loan for it." Then lay the carpet while you are in escrow. You know, if you want to be successful in real estate, you have to think a little creatively. Like, "Oh, I can't get financing if there 's no flooring." Oh, install it before closing the deal.
Let's do this very quickly. Let's deal with internal and external electricity. This will include all the switches, outlets , lights, ceiling fans , labor, materials, everything. We will spend no more than five thousand. I mean, it's a good budget. These are quality fans and lights. Do you remember what I had here?
Look at this particular room. You know, it's a $300 ceiling fan. I don't like to always save money on everything. However, I don't intend to change the space in the house much. Costs increase significantly when you start demolishing walls. So I think I'll make a statement right here. But some of these decorations are terrible.
Look at this. This faux marble countertop from the 70s and this awful cabinet. I think we could throw that out and, honestly, do something like this. I see a rug in the bedside table area. This is quite strange and disgusting. Here's what I would do, and I'll show you. Look at this. Pretty disgusting carpet here.
And if we go to the bathroom, there's a rug by the cabinet and these strange tiles. Here you see this ugly linoleum. And you can see that the entire carpet is dirty. This is the easiest to deal with, and the most profitable to change . Here is the result for the same property, where the carpets have already been replaced.
Of course, they painted the walls. But I really want to show what I did in the bathrooms to save money. So I kept the cabinets. And here it looks a little yellowish because of the lighting. But this is probably a truer reflection in this lighting. Well, it's actually sheet linoleum. You see, even without painting the bathroom and replacing the fixtures, simply replacing the carpeting and flooring makes a huge difference.
So, let's put carpet on the top floor. I'm not against carpet in a rental property to save money, especially upstairs, because it's better to spend a little less, invest the rest of the money, and if you have to replace it in 7 years—no problem. This is normal. It's pretty cheap. So the carpet upstairs in this area would cost me about $2,500 for average quality, which would look something like this.
The carpet is of average quality. And then I'll probably put linoleum in all the bathrooms, unless I replace the flooring downstairs, which I might do. So let's call it linoleum upstairs and new flooring downstairs. I'll choose vinyl tiles that look something like the one below. It looks quite similar, a kind of plank floor.
You could choose a wooden floor that looks like this . So, I'm putting $1,500 towards linoleum and replacing the flooring on the first floor with new baseboards. This will cost me about 8 thousand. I guess I'll leave the planning. And it would be interesting to turn this into a walk-in shower. and show you how to do it.
I think we will do that. Why, Matt? No. No. Why? This is a perfectly normal bathroom with white tiles. Even the shower doors look good. Replace the hardware. Remove this junk from the walls. Replace the lighting that we already included in the budget . But this, Matt, this...this is just the beginning.
This is a mistake. Why? Why do you need a walk-in shower in a rented apartment? No. Why? Oh, that's at least another seven grand just for a bathroom that doesn't need to be touched. Listen, if you want to put in a new countertop, which, honestly , let's go back. Wait. Look at this tabletop. You know what this bathroom needs, first of all, I really don't like that porthole window.
I just realized there's a porthole. But what this bathroom really needs is this: put linoleum in here , paint the walls, you know, get rid of the carpet, lay down linoleum, paint, change the hardware on this vanity, keep the countertops, and install some nice faucets. You know what? Install faucets for $300.
Decorate it. Add a nice baseboard around that mirror and you'll have updated it so beautifully. Okay, I definitely do n't like this style of countertop. This countertop will have to be replaced. But look at this beautiful "before" and "after" example. I was able to find it very quickly on Google. This is the same bathroom, and all they did was add a skirting board around the mirror.
This could change everything. I mean, it's incredible how much progress can be made just by adding a framework like that. So let's update the budget by taking into account the framing of the mirrors in the bathrooms. I'll say $1,200. And then, you know what? We'll move on to the plumbing budget. Here it is.
We will call it, for example, a waste disposer , installation of household appliances, well , all faucets, toilets. We will replace the toilets, maybe the shower switches and shower heads. I'm going to splurge on plumbing. I don't skimp on plumbing and electricity . I choose expensive finishes. I will hire licensed professionals to install them.
I'd rather save on paint. Literally, I'd rather get the cheapest paint but the best faucets and electrical because, you know what? The tenant won't call me because the paint is a little faded. They don't care, but if there's a problem with the faucet, lighting, or electrical, they'll call me. And, to be honest , I just don't want these calls.
I want the rental property to not require constant maintenance. Oh, and let's also immediately set a budget for accessories. By hardware, I mean all door handles. I'll choose something like Quickset with the SmartKey feature. All new bronze Quickset hardware on bathroom and bedroom doors. Any towel holders, such as Moen.
Kitchen hardware is cabinet handles and all that. $2,500 should be enough. The kitchen is small, the cabinets are original plywood structures. I can imagine us leaving these cabinets and perhaps updating their fronts. Professional move. Professional move. I really like it. So, here's exactly what I would do with this kitchen .
I would remove that wood panel in the back and cover it with drywall. I guess I can't make out what kind of countertop this is. Maybe it's a quartz countertop. If it's quartz, I'll leave it because updating the kitchen cabinets will completely change the look of this kitchen, especially the paint and lighting.
I would probably do a kitchen here in gray tones to create a nice contrast with that light countertop. Although, if the countertop is beige, I would probably have to choose white cabinets. We'll see. Many will want to raise the ceiling in this room, but this will lead to disaster. I would simply install spotlights in this niche, make a nice molding, and, of course, install all the new appliances.
So let's quickly calculate the budget. Household appliances. Cooktop— $1,000. Here we have a built-in microwave and oven. They cost more. So we'll need about $4,500 for equipment. Remember, a plumber will install everything he can. We will install spotlights because it looks strange to have a lamp in such a niche.
We will add spotlights. Let's put four pieces. Honestly, it will cost us about $1,500. I hope it's less. Let's put it in with a margin. These cabinets already have holes for hardware. So this should reduce pen costs. We have drywall near the counter and it will cost about $300. It doesn't matter. A little corner profile, putty—and you're done.
We already have a painter who will paint everything. The ceilings will be cleaned, and I think we've almost allocated the entire budget to the kitchen. That's all. I would n't waste anything else here . Wait, wait, wait. Of course, I forgot the budget for painting the cabinets. If you haven't seen my video yet about how I renovated this house for $643 by updating the kitchen, be sure to check it out.
Hey, look, there's me in this video too. Here is a visual example of what these cabinets look like. The lighting here is not ideal. But there, over there, it looks much better. These are nice gray cabinets. So, if I were to hire someone else to do it, I would probably say that painting the cabinets with a protective coating all around would cost me about three grand.
And now I'm not redoing the entire kitchen, but I'm making it look like I've updated it. Uh, I can't stand this low ceiling, but I need to find out what's inside. This is pretty typical of these kinds of houses in our area, where Don't do this. Uh, they lowered the ceiling so they wouldn't have to drag the lockers all the way to the top .
But here it's only 7 feet high. Oh my god, this is tight. Although this is rental housing . There is a vent here , and most likely a gas pipe runs through here. There are a lot of wires here. So if we take this off, there will be a lot of work here. But we'll cut a hole and see what it looks like later.
Don't even open Pandora's box. Dude, don't go there. No. Disgusting mold growth. And how. You can't see it on camera , but this house stinks. Evil. You actually see these uh , sort of circles of uh black here. This can sometimes be an obvious sign of toxic black mold. So, uh, not good. But even if I were filming in that room, I would probably open the garage door or something, just for ventilation.
Let's set a budget for removing the mold. Let's call it mold removal. It'll be, uh, probably $1,000. And then repairing the drywall and framing damaged by mold. Let's just say it shouldn't cost too much . 750 dollars. Quickly put this together. This is a garage. It could be an original feature of the house or it could No, no, no, no, no.
This, this is a nice looking stove. This, this, this is such a profitable option. This is wn you find something that looks like a stove from the 90s, well, you know, mid-90s, next to mold, disgusting carpet, and horrible paint. This is real money. I like it. Ideally. I mean, it's like opening the door to easy money.
So, of course, I didn't see any mold, but if it's there, we'll definitely have to do some repairs. So, let's budget some money for mold control products for the ventilation system. One of the things I like about this 70s house is that nothing has been done to it , which is good for me as a contractor .
I don't want to pay for someone's horrible "cosmetic" improvements that I'll have to rip off later because they were useless. This is a very professional statement. I can't stand buying houses where someone has done terrible " knee-jerk" renovations, and I refuse to do that. I don't tolerate hacks. I can look for cheap work, I try to save money where possible, but sloppy work is death.
Don't even touch this. This is the worst house you can buy. A house that looks good, but in reality is complete crap. Bright. Matt, look at this rug, man. This is simply disgusting. Well, I think he's exaggerating a bit about the carpet. Nobody cares about this carpet. At least not from investors. But that window is a problem.
This project is getting expensive. I'm starting to think Matt probably overpaid for this deal. Because, in my opinion, costs are really rising. I do n't like to go over $50,000 on renovations, but this place is asking for a lot of money. And I mean, I save money here wherever I can. So, we'll have to put a new window upstairs.
It will probably cost us 700 bucks with installation and everything else. Costs are rising. Well , first of all, I never told you how much I paid for it . I paid almost market price. Austin, Texas. The market here is on the rise right now. I paid 445 thousand for this house. I could have gotten it cheaper, but you know, I had a great relationship with the owner.
A very, very sweet woman whom I have known for years. And so Oh, I think it was a rookie mistake. Look, sweet lady— that's great, but you just helped her out, and my budget has already reached $80,000. I haven't seen the bathrooms upstairs yet and haven't factored in the contingency fund. I looked at this area, and it's hard to find comparables in Texas because people don't report sales prices.
It's like they're hiding from the tax inspector. This happens in some states. But I saw a similar one that was about 2,200 square feet or something like that. I don't want to bring this up now. I don't want to give the address, but I'm pretty sure it sold for somewhere around $525,000. I look at this and think, "Wait a minute." If I have a budget of $80,000 and I haven't even looked at the house yet, then you've spent $445,000 on it plus maintenance costs because you'll be renovating it for probably six months .
I would renovate this place in 6 weeks. So, the maintenance costs for 6 weeks will cost me somewhere around six thousand, 6300 dollars. Then, uh, we'll have borrowing and acquisition costs. It will probably be around five thousand. And , uh, then you have repair costs of about 80 thousand. So look at this.
Look at this. Matt invested $536,000 in this case. If similar properties in the area are selling for $525,000, Matt is in . And that's with my budget. If Matt spends even a dollar more, and similar homes are going for $536,000 for what is essentially a renovated home, Matt is out the door. Now, if the similar properties that I saw, and again , I only had access to one in ten sold because I don't see sales data.
I don't have a license there. If similar properties in the area cost, say, $600,000 for such houses, and let's say I had to spend a hundred thousand on their renovation. In that case, Matt would have invested about $556,000, according to my budget . He would receive the property for $600,000, equivalent to a profit of approximately $44,000.
In my opinion, the amount you get, that is, the amount of capital gain, should be greater than the money you spend on the project. It's easy to spend 100k and get 46k in capital. Without even reselling it, right? Just capital . It's too tight. This is the type of deal I would tell my course participants: you should get this place for 400.
And honestly, the dealers probably would n't give more than $350,000 for it. So, I don't know, Matt. I think it was a rookie mistake. I should have talked to my realtor first. To be honest , I never set foot in the house before closing the deal. So, I knew it was a rookie mistake. I should have talked to my realtor.
That was your first mistake. You should have looked at them. Why didn't you walk on it? And, especially if you had a good relationship with her . Like, are you afraid of offending her? I don't want to spend too much money, you know? I want to spend around 750,000 on this project. This...this is good.
This is good . This is serious money. Wow, wow . It fits into my budget. I like it. I'm impressed. That's good. But the next step is to find an interior designer to help from the inside, and a designer or architect to help from the outside, and I'm trying to figure out ...wait, wait, wait, wait, wait , wait!
Wait a minute, wait a minute, wait a minute. Interior designer and architect? Why? Look, I'm not downplaying the benefits of a designer or architect, but there's one problem with them in a rental : you'll spend a lot more than you planned trying to update everything. Get rid of those 70s details, but still make everything cool.
Wait, wait, wait, wait, wait, wait, wait. He just said " do it cool." Why do you have to do this cool? This is a rental. Yes, it is possible. I mean, this is a YouTube show, right? Oh, look what I did. I love Matt. Okay, I don't know. Maybe I've just become cynical. You know, I don't want to say anything bad.
I really like him. I'd like to introduce you to the architect I hired for the project, Keith Johnson. Kit, good to see you, brother. Thank you for joining me today. That's what we did when we first met. I presented the plan, the budget, and my general thoughts on the house. And then Keith went home and spent what seemed like ...well, a few hours.
Then we met again a week or two later, and Keith showed me this sketch. Okay. First of all, another rookie mistake: wait, what do you mean? You met him. You've already dismantled it. And now you just left the house for two weeks? Ha? No. You have to build. And what is this ? Remove the bricks to make panels.
No. What is this ? This is turning into a Texas mansion. Entrance with pergola. Are you kidding? Exterior window in the bathroom. You are going to add a window to the back. No. I mean, maybe it's the same porthole window. And I will say that that porthole was just awful. But not in a rental property, I don't care.
In a rental home, this porthole is wonderful. He is perfect . Uh, new windows in the bedroom. Why? Why are you adding windows? Remove the shed to open up a view of what? Okay. I'm all for cleaning out the barn. Koi or just a pond? No, this is a frame wall in a rental property. What is this? Matt better stop this.
Which was just wonderful . This included a lot of what I told him I was looking for in the house. I wanted to redo the facade, modernize, and update the house. I like this general look of a modern farmhouse , but we have, you know, that style. Matt has watched too many shows with Chip and Joanna. Remember how he started at the beginning of the video?
He's like, "Oh, well, I want to give you a realistic budget, not what they show on HGTV." I'm like, " Wait a minute. You just took a realistic middle-class budget, which is already a lot for this house. I mean, 80 grand to me—that's already a lot." Okay. And wait. Let me quickly finish with my budget.
Okay? Let's get back to the budget. Let's quickly put some money towards cleaning the bathrooms upstairs. For some reason I think I missed the bathrooms upstairs, but never mind . Let's say there are two bathrooms upstairs. I will do the same . We already have mirror frames. We have plumbing. We have electricity.
We have linoleum and fittings. We have plumbing, toilets and everything else. In the worst case, you will have to restore the glaze on the tile. So I'll say: restore the glaze on the tiles. So, let's add a couple thousand just in case. And let's make a reserve of, say, $7,500. That's it. So , we have a budget of $85,000 with my basic renovations.
My goal is to stay within budget. That is always my goal. If I could invest less than 80 thousand, I would be very, very happy, because this place needs a lot of work. And, you know, you'll have to add a little bit to that for cleaning. But I have a solid reserve. So, I'm pretty confident that I can put this project on a budget of less than $85,000.
But this drawing from Matt is starting to look like a $200,000 project. And guess how much more rent he will get? I don't know, a hundred bucks if you're lucky. And then you look at it and think, “Wait a minute. $100 multiplied by 12—that's $1,200 per year, divided by an additional $100,000—is a return of 1.2%.
This doesn't make sense. Don't do this, Matt. I hope this stops him before it's too late. First of all, this roof here, is there a way to lower it somehow? It covers half of the wall at the top. And will this allow us to get some natural light into the upstairs bedroom? Why not make the facade a little more attractive?
So, that was one idea to somehow install a new ceiling fan . This doesn't require new windows or a lower roof. And also work here, where there's this beveled corner near the entrance, which might have been cool in the 70s , but not now. So make it more square. This is normal. Again, this is how you see the house when approaching from the east.
And is there a way to draw a little more attention to this? Fix this angle somehow. And the idea was to ...oh my God, this is how people get left without money, you know, this old-fashioned style. You know, when you come in from the east side, you want to feel like you're really impressing all your friends, neighbors, and maybe the newspaper delivery guy.
No, these are the basics of homeowner bankruptcy. How to run out of money while owning a single- family home. As for the windows, you know, raise the roof a little and make the angle more eye-catching. So you have this corner piece, and then you come up here, and the entrance looks a little better. But overall, the entire facade looks much more welcoming .
And that's not all. This turned from a budget repair into a budget disaster. An ad that will attract more attention than this calm, again , quiet but tired 70s style. Yes, very tired. And listen, I'm not trying to...Look, if you want your dream home, you go to an architect. You go to an interior designer.
You know what? The cat is probably your boyfriend. Matt can redo it for you . I'm sure they are wonderful people. But my reaction, remember, is within the context of this being a rental property. Worse yet, this is a home that you rented out at a discount to missionaries from your church, and you're talking about installing wallpaper , a carp pond, changing the architecture of the facade, raising the roof, and installing a flat roof instead of a pitched one.
Oh, no. I...I don't know if I can take this much longer. Yes. And you know, Kit, it's funny. I have been a contractor for 25 years. I've worked with many early-stage clients who said, "I only want to spend X dollars," and invariably the budget grows as they realize what they can get for their money, what the possibilities are for the house.
And you know what? No, that's the problem . The problem is that clients say, "Here's my budget." And then: "But you could do this, and you could do this, and you could do this." And usually the scheme is like this. Of course? It's usually like this: "Okay, client , you want to spend $85,000." How about doing this renovation for $250,000?
And then the client says, "Wow, this is really beautiful, but I want to cut the budget." "Okay, let's cut it to $175,000." You still spent $90,000 more than it was worth, overpaying for improvements to this house. Your capital is going down the drain. You invest that 100k, but you might only get back 10 cents on the dollar on that extra amount.
The more I look at this tired house, the tired layout, and frankly, how cool it would look, maybe I would even move here myself for a few years while my kids grow up. I don't know. No, that's why people get scammed when investing in rental properties. He just literally said that. This will be cool. Maybe I'll live here by myself for a while.
No, no, no. Listen, if you're buying investment property, stick to a plan. If you're going to buy your dream house, then go for it . Go all out , spend all your money, and put the Ferrari in the garage. I don't care. But if you are doing renovations in a rental property—no. This is too emotional. Sorry.
I, I'm like... I'm getting too hot. I. I really like the outside, but honestly, I'm just delighted with what's inside . It's a tired 70s house. It's all broken into pieces. Strange entrance . Step down right here. This is what Keith is going to do to us . This dining room with this weird angle. Now this will be the main entrance, the hallway.
The front door will be right here. Do you remember what our facade was like? Oh my God. They are going to move the front door. You can go crazy. We have a place to take shelter from the rain, set up a chair, and watch what's going on in the neighborhood. Here is the main entrance. And to our right will be the guest bathroom.
We have that bathroom over there. Move it here. Now we have a much more conventional, much more attractive entrance. I've had enough. I can't watch this anymore . I started this thinking I'd see Matt Reisinger doing a routine repair. And I literally just heard him say that he's going to move the door and then move the bathroom in the house on a concrete slab, which means now we have to chisel out that slab.
And if it's prestressed concrete, then you spend even more money on X-raying the slab. I can't , I can't do this anymore. I've had enough. I'll end the video with this. Follow me on Instagram. Subscribe to the channel. Give it a like. And if you have any recommendations for what else to review, because I can't do that anymore, be sure to send me a message on Instagram at me Kevin. I left here.
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