저자: Kevin · 외국인
요약 보기
Matt Risinger의 주택 리모델링 영상을 리액션. 곰팡이·누수 등 문제 해결은 정당하지만 1970년대 동네에서 과도한 업그레이드(천장 상승, 창문 추가, 전면 재설계)는 임대·매각 수익을 늘리지 못하는 과잉투자라고 비판. 빈집 상태로 방치 시 보험·세금·이자로 매일 비용이 발생한다고 강조. 주식·자산 가격 방향에 대한 예측은 없음.
다듬은 글
자기소개와 영상 배경
Yes yes, hey everyone, my name is Kevin and I am a minimalist landlord. Today I am going to react to an extravagant landlord, mostly because I have had so many requests to respond to this particular video, so I'm going to do it. I'm obviously going to link the video down below. This video is by Matt Risinger of The Build Show, and the title is "I'm building a house but there's a house in the way," which seems quite appropriate given what we've seen in past videos.
채널 소개: Matt Risinger
Just in case you haven't seen the other videos, let me give you a quick catch-up. Matt Risinger is a high-end building contractor who generally remodels properties north of a million dollars, so he deals with a pretty high-end clientele. Based on his videos, and having been a licensed contractor in the past, I know he does great work. But I'm a minimalist real estate investor, and when I saw that he was going to do what he called an average everyday American remodel, in a 1970s neighborhood where he bought a house for somewhere around the mid-400s, where properties are going for somewhere around $450,000 to $500,000, I thought, okay, this would be an interesting remodel to follow and comment on.
지출 확대 경향에 대한 문제 제기
Unfortunately, in my first reaction videos I started noticing Matt going in this direction: anytime there was an opportunity to spend more money, he took it. Initially you might think, well, maybe that's the right thing to do. Maybe there's mold, and he's deciding to spend money on remediating mold he found. That is the correct thing to do. That's what you should do, and that's what I do too. But when you remodel a kitchen because there's mold in it, you don't raise the ceiling at the same time, because that's not being a minimalist landlord, that's being an extravagant landlord. I haven't seen this video yet, so these will be some raw reactions. Let's get started. As always, check the links down below for my real estate courses, and don't sue me, bro.
욕실·외벽 해체와 누수 점검
Welcome back to the real remodel project. This is my 1970s house, and we're showing how to do a whole-house remodel. If you've been watching this series, things have grown quite a bit. Yeah, they have. It's like going to the doctor: the first thing they say is take all your clothes off and put on the robe, so they can check your body for a cancerous mole or another issue. That's basically what we have here. We've skinned the whole house.
Hold it right there. If you're interested in being a minimalist landlord or making money investing in real estate, don't skin every property you buy. Austin is a lot more humid than other parts of the country, and from prior videos I've reacted to, we know this property has not only mildew but a lot of rodent issues. So there are times you want to strip the house down to the studs. The cool thing about real estate, though, is that it leaves you breadcrumbs, clues for knowing when it's time to take it down. If you had a mole right here, it usually starts leaking through your T-shirt. You don't have to rip all the clothes off the house to find out there could be issues. I think that's a big distinction between a slumlord who does nothing, a minimalist investor who solves problems when they appear, and someone who wants a more extravagant remodel in a neighborhood that doesn't justify it.
창호·단열 디테일에 대한 비판
Let's continue. This is ridiculous. Look at this porthole window on the front and how it was installed. There's basically no flashing or air-sealing detail on it. The problem is this is a 1970s neighborhood. You could go into this neighborhood and realize there won't be solid flashing around every window, and there won't be proper air sealing, because those standards didn't exist. I'm all for proper air sealing. In California, new houses are built so airtight that you actually have to introduce fresh air from outside by installing vents next to the return registers upstairs. I'm all for that. But it usually doesn't make sense to go into a 1970s neighborhood and seal everything up perfectly, because you won't be able to sell the house for more or rent it for more. It's a nice bonus, and it'll probably increase comfort, but honestly your dollars would go a lot further putting in a stronger or second air conditioner than doing a complete tear-down and rebuild.
시공 방식과 손상 확인
Let's see what else is coming in today's episode, because I know there was an architect involved, and I'm interested to see where this is going. Well, this is how houses are being built by some builders in the nation. This is not... yeah, and that's a problem. I agree with Matt; this is one of the reasons I like watching him. He's right. People shouldn't build houses like that. Look at all this damage right here. There was visible evidence of water leakage or damage to that brick. Let's pull it up. There are areas showing some green, and some darkness, and because that's always a bellwether for problems... he's so right. It's funny, he actually said it back then, "it's always a bellwether for problems." That's exactly why I love real estate so much: it gives you signals, clues that tell you to pay special attention. Frankly, seeing stuff like this makes me feel better about buying real estate, because the last thing I'd want is no evidence of water issues. Then you skin the house and see nothing, that'd be scary. Skin every house you buy, they'll say, but this is actually good. There were red flags, and sure enough, this is what we find underneath, again in the more humid area of Austin. So far this is good. I like this episode so far. We'll see how it devolves, because I usually end up getting a little triggered by the end of these.
곰팡이 처리와 배관 문제
As we said in the first video, the mold here... I remember there being mold in the furnace closet. This stuff should be dealt with by any investor, and you always start by dealing with the source of the water intrusion, then solve the damage. That's good. Now, this is kind of cool. When you first walk into the utility room... it took me a second to realize, as we were taking out the sheetrock with my kids, why the studs are painted white here. Well, there was some kind of leak or backup, a service company was called, and as part of remediation they were worried about mold growth in the studs, so they painted them with this white paint. That seems to have done a good job. I don't see any blackness on the back of the sheetrock they painted, or on the studs. For the most part it looks pretty good. But look at the thermal wrap back there, the cardboard sheeting. It's in terrible shape. There are holes that were not sealed at all, coming from the upstairs. And look at this, this link that was doing structural duty... after a couple of years, one good wind could have knocked this whole house over.
구조 안전성에 대한 과장 의심
Come on, Matt. Oh, come on. Look, I hate to say it, but that sounds very typical contractor, like "no, you want it to be perfect, because you don't want a strong hurricane or wind to come and blow this whole house up." That's obviously an exaggeration. Part of me thinks he didn't say it in an exaggerating way, and I try to read psychology and not be jaded. But the way he said it sounds like he believes it. I don't think he believes it, but the way he said it made me feel like he does. It's a weird, twisted circle, but I don't know. Okay, I'll keep watching.
보일러실 공기 누설과 배관
When you look up in the water-heater closet, I didn't take any sheetrock out. That's the way it looks, no sheetrock, which means the water-heater closet was basically connected to the outside. If you saw my earlier videos, we had massive air-leak numbers in this house. I bet my previous homeowner had a hard time keeping the house cool. Now check this out, the back of... unfortunately, that's where it's a perfect way to sell. You take an innocent homeowner through the house and say, "Oh look, the Freon lines aren't sealed. Oh look, there's a hole right here by the water heater. It's going to be hard to cool this house. Let's strip it." Usually, if it weren't for all the mildew and rat turds, what people do is put the drywall back by the water heater, seal the Freon lines on the outside, seal the penetrations around the property, and bring it to a level not of perfection, but of not damaged and not too broken. Back to a good-quality level.
임대 수익성에 대한 논의
Then guess what? If it's a rental property and the tenants run the AC a bit more, that's on them. Hint, hint. I know that might sound extreme. You might think tenants will have higher utility bills and be more likely to go rent another property. But wait a minute, remember all the houses in this neighborhood haven't been remodeled. That means they all have the same comfort levels. So solve the damage, put it back together, get it rented. This is a little extreme. I'm okay with the stripping, because there's been a lot of water damage on this property and a lot of rats, but there's definitely a bit of hyperbole here.
배관·환기 구조 확인
You see we've got two copper pipes in there, and there's almost weird stippling on the drywall. I've seen this before, more rats. In case you don't know, I own real estate. I'm a real estate investor and broker. I'm 27 and I own just over $6 million in real estate, and I teach people how to invest and make money from real estate in my courses, link below. You can see this is the return side. They basically cut a big hole on this side to return air to the furnace, and then it blew up. I hate to say it, but that's pretty common for that time. Again, there's mold, deal with the mold, but that's pretty typical for a furnace. And that furnace in the closet isn't actually that old. It looks pretty decent. It's just unfortunate there's so much mold around it.
지붕 트러스 및 평면 변경 계획
You see the roof trusses from the late '70s. These are an early truss design, with some metal and about a 10- or 12-inch depth. I'm probably going to keep them where they work, but we're going to extend... Well, yeah, why would you take them down? They look fine, they're beautiful. There are gas lines over there. It's the floor on the upstairs, sticking out a little bit. Wait, nice to work on this concrete step as the plans change. And in this room... oh my gosh, don't tell me you're going to try to flatten it out. Oh my gosh, no. I guess I haven't talked much about the plan change, but my architect, Kit Johnson, has done a great job of really opening up the space. Oh my gosh. This is like a 12-month remodel. Are you kidding me on a rental? You know what, yeah.
리모델링 목적에 대한 비판
Looking at this floor plan, I think we've got a case of Matt wanting a new beautiful house to live in, while it's a rental property for the purposes of YouTube. I won't speculate, but it just conveniently happened to change into this. If I wanted a long-term living house, this is what I would do. I would remodel it. But as a rental property, my goodness, this is a lot of work. Yes, the stairwell is going to go away. The kitchen, the dining room, which was going to be this space now, and this family room are going to be totally opened up and exposed to each other. That's going to be fantastic, I love it. But this presents a problem for me. I've got this vaulted ceiling. Don't get me wrong, this place is going to look amazing, but it ain't cheap.
기존 구조와 무허가 증축 의문
You'll notice the original house actually stopped right here, see this line in the concrete. I hope they checked whether it was permitted. I always recommend checking for permits, but I guess it doesn't matter since he's probably going to re-engineer all this anyway. Who cares if it was permitted or not? Yeah, this is a crack, because this is the slab I'm standing on, the original, and this slab over here was poured later. You also notice this header was added, and this framing over here is traditional framing, not trusses. So this is new, or lumber. I'm not sure when this was done. Maybe it looks good. Move on.
증축 계획의 타당성 논쟁
There's a pitch change on the roof, so by extending the family room back in this direction, I'm basically going to have to rip up a bunch of these trusses. What? No, no. Why extend the family room? Why would you do that? It's fine. You've taken it to the studs, removed the old slab, put it back together. You can do a quality job. Don't think I'm saying go low-quality. Put it back together, do a good job. But wait, why do you have to add square footage now? How much more rent are you going to get? Zero, zero, zero. Turning this into hand-cut framing gives me an opportunity, though. It means I can change the way the insulation runs in this house. Do not tell me you're justifying adding square footage to change the way the insulation is installed. I can spray the crap out of it the way it is right now. I can use the highest-quality stuff I could find. Oh my gosh, they cannot believe we're about to justify an addition. Just say you want it. You want the added square footage because you want a project, and I would respect that.
단열 방식과 공조 설계 논쟁
Traditionally insulated houses, where drywall is your air barrier and everything goes on top, work pretty well, right? You may have seen my buddy Jake Bruton do that. But the problem in Texas, where we have slab-on-grade, is that I don't have any space in a basement for my mechanicals. The mechanicals have to be worked into the design. So in this case, I'm going to reframe this attic with more traditional framing so I can open it up. And here's the big deal: I'm going to change the way the insulation works in this house. We're going to move the insulation out to the outside envelope. We'll use exterior insulation on the walls and Zip System sheathing to really... I get it. If anybody has watched a single Matt Risinger video, we all know everything has to be in conditioned space. Ducts need to be in conditioned space, because it doesn't make sense in America that we have ducts running through 100-degree air. We've all heard it before. But oh my gosh, I cannot believe you're going to remove all those beautiful trusses to create conditioned space for a rental. Whoa, okay, all right, cool. You'll have a higher ceiling and can hang a more expensive chandelier from it, I guess. The attic will be the roof deck, which means my attic won't be a hot attic anymore. It'll be conditioned, basically the same temperature as the rest of the house, maybe a couple degrees hotter.
과잉 개량과 매도 가치 비교
Who's really going to win on this house? The person who buys it. Let me put it this way. If you have a whole neighborhood of, say, 200 houses, and this house ends up being worth $550,000, because all the neighboring houses are selling for $545,000, $560,000, $555,000, $550,000, $545,000, $560,000... this thing will probably sell somewhere between $545,000 and $560,000. Even if we gave him a bonus, he might get $570,000 for it. Because Matt over-improved it, the buyer is going to get an extra $100,000 to $200,000 of upgrades for maybe $10,000. Matt is the kind of person you want to buy a house from, and if I were building a dream house, I'd probably have Matt do it too. But for a rental property, I'm not going anywhere near Matt's kind of property, because my rentals all have hot attics, and I don't want to be guilted about my hot attics.
굴뚝 철거 및 외부 마감 판단
Okay, look at that chimney coming up, and look at this over here. There's a ton of rot happening, because that brick was soaking up water every time it rained. I get the justification: remove the chimney because it's in the way, and we're doing a remodel anyway. But let me put it this way: a little bit of rot right there behind the fascia isn't going to hurt anybody. That rot is not a reason to tear down a chimney. Don't tear down a chimney for a little bit of rot. Instead, when it's time to reroute and you notice the rot, deal with the rot. Then, when it's time to replace the fascia boards because they're rotten, deal with the rot problem at that time. Don't replace or remove the chimney to solve the problem. No, we're going to design an outdoor fireplace. I'll use a fire rock unit or one of those. Honestly, I'm fine with the chimney disappearing and the fireplace disappearing. That's okay. I could do an outdoor fireplace and make some beautiful outdoor fires, and we'll still have a chimney to get rid of the smoke. Oh, there's the chimney in the backyard. I just realized, what do I do with these windows? Do I do any windows, or do I do outie windows, based on that exterior insulation and how thick I leave the windows, because that's a thick layer of exterior insulation? I don't care about rowdy inserts and opening and closing. It's not good enough for me. Do I want to do it now? I've got a brick ledge here, and I'm going to be going back with some brick, so I need to figure out how thick to make my insulation.
바닥 합판 손상과 보수 방식
This is getting ripped off, and we'll have Zip System sheathing here. I'm reconfiguring my window openings. This house will see its first tenant in two years at least. We'll have videos to react to for a while. I don't know if that's a dog urine or dog feces stain, but we're seeing a lot of stains upstairs in the plywood. That's it. Take all the plywood out and replace everything. This is 3/4-inch old-school plywood, and it has a fair amount of squeaks. I have no idea why they did these cutouts in here, but it's fairly soft in these places, so I need to figure out what to do with the plywood. I think what I'm going to end up doing is re-screwing all this plywood and then re-skinning it with some 3/4-inch Advantech. I'm shocked he didn't say tear it all out and replace it. That's great. Wow, I'm shocked, because you could screw, glue, and get rid of the squeak. On top of that, I'll glue and screw or nail together. I could not have planned that better. Whether you believe me or not, I don't watch these videos first. I tried to purposely not watch them to give a reaction. I feel good about myself now, because I feel like Matt and I just jived here. I don't know if he drinks, but I feel like that right there, we could cheers over that. Wow, that feels good. But what do I do about dog stains? I know I've got rat feces on top of these top cords of my 2x4s. I'm actually going to come in here with the power washer and maybe power wash this interior out. It's no big deal for framing to get wet, as long as it can dry, and since we're all opened up, even if it takes a week or two to dry out in here, it's no big deal.
세척 방식 비판
Okay, with the exception of taking a week or two and delaying everything for a week or two, that is an interesting idea. Although that stain... honestly, I probably wouldn't do that, and I'd rust out all my screws. Honestly, the easiest thing with these stains is probably to Clorox them, dry out the spots, sand them a little, and call it a day. I'm not going to soak all my electrical, outlets, wiring, and screws. Mm-hmm.
지붕 형태 변경과 창문 배치
I didn't want a flat roof, which was one of the initial proposals. I wanted a pitched roof, but I'm punching windows toward the front of the house to change the facade. This roof pitch is too deep to really get a good window and get this space. And because these are trusses, and these trusses in the front land on a girder truss, see this triple-ply truss? They typically call that a girder truss. So this truss bears front to back, and those trusses going over the garage header bear here. On the front of the house, I'm basically going to have to rip this whole garage roof off and reframe it with traditional rafters, and then I'm going to have to put a beam in there. So I'm going to talk to my engineer about it.
공사 일정 및 창호 발주 이야기
Oh my gosh, come on, Matt. It's fine. My JELD-WEN window package should get here mid-December or January-ish. Mid-December, January. Ah, no, I need a tenant by January. Gees, and you're only going to get windows by then? I'll have videos to react to for the next year. That is exciting. But this is exactly one of the problems that happens with the typical real estate investor. They get excited about an idea, like, "It'd be so nice if in this room we had another window," aka yet another freaking wall with another window, because all new construction seems to have windows every freaking way. It's hard to actually use walls anymore. It's like this room: how many windows do I need in one room? I don't know. It's a new thing people do now, more windows, more windows, more windows. I get it, windows are cool, because after all, you can push a couple of buttons, let all that beautiful sunlight in from the outside world, and really experience life. The different... lame, except when you're recording at 3:00 a.m.
창문을 더 달면 빛이 더 들어오는 게 아니라 반사만 늘어나서 영상 촬영에도 좋지 않습니다. 그래서 창을 더 넣는 건 별로 좋지 않아요. 현실적으로 보면 문제는 이런 아이디어를 전부 넣고 싶다는 데 있습니다. 전망을 위해 창을 키우려고 하면 작은 창이나 트랜섬 창 정도로 끝나지 않고, 집 전체를 다시 설계하는 대공사가 됩니다. 시간도 훨씬 더 걸리고 돈도 훨씬 많이 들어요. 아무튼 1월쯤이면 프라하 어니스트(?)의 실제 공사를 본격적으로 시작할 수 있을 정도로 가까워졌습니다.
진짜예요? 9월에 이 집을 샀는데 지금 6개월 동안 그냥 놔두고 있다고요? 처음부터 현실성 없는 예산으로 시작했는데, 제가 그걸 못 본 게 웃기죠. 25년이나 집을 지어 왔는데 문제가 보이지 않았어요. 일부는 오랫동안 여기 살았던 좋은 이웃에게서 집을 샀기 때문이기도 합니다. 사실 집을 보지도 않고 샀어요. 시세대로 주고 샀는데, 이제 집을 크게 바꿀 겁니다. 그리고 어디에 얼마나 쓰는지 계속 기록할 거예요.
지금까지는 건축가 비용, 곧 철거를 도와줄 인력이 들어올 비용, 그리고 폐기물 컨테이너 비용 말고는 큰 지출이 없었습니다. 합치면 2만 달러 안팎이고, 조금 더 될 수도 있어요. 그러니 "작은 비용만 썼다"고 정당화하려 하지 마세요. 건축가와 폐기물 비용만 해도 2만 달러인데요.
빈집을 가지고 있으면 이른바 공실 주택 보험(vacant homeowner's insurance)에 들어야 한다는 걸 알아야 합니다. 임대용 보험 월 60달러 정도 대신, 공실 보험은 월 300~400달러를 낼 수도 있어요. 그렇다고 일반 임대 주택 보험으로 대충 넣을 수도 없습니다. 보험사가 와서 비어 있는 걸 보면 적절한 보장이 없으면 보상을 거부할 수 있어요. 이 집이 불에 타 버리면 투자금 전부를 잃을 수도 있습니다. 나쁜 생각이에요.
텍사스는 재산세가 높은 편이라 세금도 월 800달러쯤 나옵니다. 그럼 보험과 세금만 해서 월 1,200달러가 들어가는 셈이죠. 그런데 아직 원금이나 이자는 계산하지도 않았습니다. 임대용 주택처럼 연 4.5% 금리로 30만 달러를 대출받았다고 가정해 볼게요. 이자만 월 1,125달러가 추가로 나갑니다. 그럼 이자, 세금, 보험을 합쳐서 월 약 2,300~2,400달러가 들어가는 거예요. 여기에 원금 상환이나 공과금 같은 비용도 더 붙을 수 있습니다. 그러니 6개월 동안 이 집을 그냥 놔뒀다는 것만으로도 보험, 세금, 이자를 합쳐 약 1만 4천 달러가 추가로 든 셈이에요. 이걸 계산에 넣지 않은 겁니다. 방금 2만 달러를 썼다고 했는데, 사실은 3만 3천 달러 정도 쓴 거예요.
빈집은 하루하루가 돈이 새는 상태입니다. 미니멀리스트 집주인 입장에서 보면, 매일매일이 주머니에서 돈이 나가는 날이에요. 멋진 창문이 올 때까지 기다리면서 그냥 앉아 있을 수는 없습니다. 사실상 새집을 짓고 있는 거니까요. 맞아요, 실제로 그렇게 하고 있는 겁니다. 이 장면 정지 화면 좋네요. 저를 보면서 아마 이렇게 생각하겠죠. 길을 막고 있는 낡은 집이 있다는 것, 그게 바로 리모델링이 힘든 이유예요. 낡은 집이 길을 막고 있다는 거죠.
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