My brother, myself and my parents formed a partnership to invest is
houses to fix up and sell off, and we just acquired our first
investment. We formed an LLC for the tax breaks. The house is in the
heart of Towson, MD, the most populated suburb of Baltimore, MD.
Recently it was designated as a city, and it forms a metropolis with
Baltimore. It's about 80 years old, and was apparently available from
Sears as a kit that one could buy, and then construct. It has a full
unfinished basement, a finished main floor with 9 foot ceilings and an
unfinished but big attic. The lot is .14 acres and it has a driveway
(the kind with two cement strips and grass in the middle. All of the
doors have the orginal hardware and frames. It's very solid.

Here is our goal:

Redone main floor. (refinish floors, new kitchen, new lighting)
Central A/C
Heat via ducts
A finished attic as a bedroom
New plumbing in the single bathroom, and perhaps a powder room
upstairs.
Electrical/ Phone/ Data upgrades

I have posted a photo tour at
http://flickr.com/photos/talllguy/se...7594057780280/

A couple of questions. Obviously we have a lot of work to do, in order
to get this into desirable condition. Luckily there is no water in the
basement, and there are no lasting effects from previous owners like
smoke and must. The floors are all solid hardwood and the walls
plaster. The first thing we will probably have to change is the HVAC.

Seen here http://tinyurl.com/d6mka is the one and only heat register.
The furnace is directly below (http://tinyurl.com/ar8su) in the
basement, and burns oil. What kind of setup is this exactly?

How desireable is oil compared to a new NG furnace, assumeing we could
get NG there, although we live way out in the burbs and get it?

Would it be hard to add A/C, especially to the attic, which would get
pretty hot in the summer?

What is this thing next to the furnace? http://tinyurl.com/ax8f6

Why does turning on the kitchen exhaust fan blow almost every fuse in
the house?

Any signs of damage that the inspector might have missed?

Remember this is an investment, not somewhere I am moving when we
settle. We know that this will be expensive, but for the price we got
it versus how much the land is worth (more than the house), it's worth
it. What are your thoughts?

Thanks in advance!!

Elliott Plack wrote:

What is this thing next to the furnace? http://tinyurl.com/ax8f6

Looks like a water tank. I'm guessing the house used to have a shallow
well and now has town water.

First that concrete double bowl sink is cool--don't be quick to get
rid of it. Maybe replace the faucet, prehaps paint it white with
concrete paint, and rustoleum the legs, but resist the urge to ditch
it. Those things are super sturdy.

Natural gas still has cheaper cost per btu than oil, iirc.

You'll have to run ductwork up to the attic somehow. So long as you
do that, getting ac when re-dooing the furnace shouldn't be a huge
ordeal.

That exhaust fan may just need to be replaced--may be gunked up an
arcing, and drawing too much current.

Good luck!

--
Todd H.
http://www.toddh.net/

On 2 Feb 2006 11:52:05 -0800, someone wrote:

My brother, myself and my parents formed a partnership to invest is
houses to fix up and sell offetc etc
What are your thoughts?

Dood, you are asking us for advice on how to run your BUSINESS?

If you have to ask....
........expect to pay someone for the answers
or else they're worth what you paid for them.....

To start a business venture without knowing squat, and then to expect
free advice with nothing interchanged in return - well gosh.


Reply to NG only - this e.mail address goes to a kill file.

On 2 Feb 2006 11:52:05 -0800, "Elliott Plack"
wrote:

My brother, myself and my parents formed a partnership to invest is
houses to fix up and sell off, and we just acquired our first
investment. We formed an LLC for the tax breaks. The house is in the


Exactly what tax breaks to you get with the LLC ? I thought it was
for liability purposes.

On 02 Feb 2006 14:32:16 -0600, (Todd H.) wrote:


First that concrete double bowl sink is cool--don't be quick to get
rid of it. Maybe replace the faucet, prehaps paint it white with
concrete paint, and rustoleum the legs, but resist the urge to ditch
it. Those things are super sturdy.

Agreed. Yours is in better shape than mine; I'm jealous! Keep it by
all means.

You'll have to run ductwork up to the attic somehow. So long as you
do that, getting ac when re-dooing the furnace shouldn't be a huge
ordeal.

Yes, and while you're running ductwork, take the time to see where
else you might need it. I wish I had cold air returns upstairs on the
2nd and 3rd floors of my house; they would help improve the air
circulation.

hi my name is nelson fron the ideal house and home corporation we are
locate in ny please feel free to call my cell 1917 420 5195 there is a
lot of info.tha I CA SUPPLY YOU FOR FREE

Hi Elliott,

Because this is an investment that you expect to make a good return on,
you don't want to spend any extra money you don't have to. Shop
carefully for a new furnace -gas or oil, whatever is cheapest! Most
homebuyers are only concerned with it being in good working order. I
would not spend the money to air condition the attic unless it is a
finished attic that has been converted into a bedroom. Most people are
only going to use it for storage if it hasn't been finished. Don't
spend the money on the attic.
The main rooms that make a difference are the Kitchen & bath. Make sure
you have modern appliances in the kitchen, a bathroom with new tub,
toilet, shower, etc if necessary. If the tub & toilet & shower are in
good shape Just makes sure its nice & clean!
A clean house is one of the most important things to a buyer.
Make sure the house looks good on the outside including the yard. As a
realtor, I have taken buyers to see a house, and they have refused to
even go inside the house to take a look simply because they didn't like
the looks of the yard or the porch. No matter how nice the house is
inside, you have to make the outside attractive enough for the buyers
to want to come in!
I will be happy to offer some more help in what to do to get the house
ready to sell. I would also like to offer my services as a listing
agent. I am very familiar with that area and I have very strong
marketing and negotiating skills. I will be happy to help you determine
the right selling price range when you are ready.
Donna Dorn, Long & Foster
Email :
Website : http://DonnaDorn.com

Kitchens and bathrooms!

Kitchens and bathrooms!

Doing much of anything else will be a waste of money if you are looking to
sell it for a profit.

Also research selling prices for houses in the area. This should tell you
around the max you should expect to get when selling. Don't sink so much
money into this house that you would need to sell for a price way above the
max.

Also I did not see of picture of the entire house looking at it from the
street. This is very important. This is the first thing a potential buyer
would see. Also neighboring homes and a view looking down the street.

To get the idea of things here, if were going to paint the inside rooms, I
would buy the cheapest Walmart paint. Certainly not "Ralph Lauren" paint.
Most people can not tell if the paint used was a "name brand" paint after it
is on the walls.

And if possible, look at neighbors homes which recently sold for a high
amount. See what the kitchens and bathrooms look like. Try to duplicate that
look for the lowest cost.

And you can do a minimum of work, then list it for the max price. See if
potential buyers walk because of one thing or the other. Then at that time
negotiate to fix these things before purchase or go ahead and fix them. Or
may get lucky and sell without needing fix anything else...

Elliott Plack wrote:

Why does turning on the kitchen exhaust fan blow almost every fuse in
the house?

Probably because it has 80-year old electric? Some of those light
fixtures are scary looking. I'd also consider installing new windows.

And are you sure there's enough room in the attic for a bedroom?
Doesn't look like it to me.

I like the porch.

jen