Renovating the old POST OFFICE I bought
Published: 2021-01-16
Status:
Available
|
Analyzed
Published: 2021-01-16
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker plans to reveal the contents of a hidden room and staircase in a property on Monday.
"we will be back monday to tear down the wall record it and see what's in the hidden room and staircase"
Pending
A renovated unit that previously rented for $500/month is now completed.
"it was rented prior for 500 a month and the renovations are essentially done on this one"
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The rent for a unit is increasing from $500 to $575 per month.
"we're going to appreciate the rent it's going from 500 a month to 5.75"
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Turnovers in the entire facility are expected to generate an additional $250 per month, totaling $3,000 per year.
"this whole facility probably on the turnovers are going to generate another 250 per month um you know that's 3 000 a year extra it's going to make on this place"
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The speaker invested approximately $125,000 in a historic post office property.
"i only have like 125 000 in this whole place which is really cool to buy a historic post office"
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A historic post office was purchased for $125,000 and is being renovated.
"a person like me could buy a 125 thousand dollar historic post office and mostly fix it up"
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Gentrification is occurring in the area, leading to increased property values and displacement of residents to other areas like the east side of town.
"this area is getting nicer it's also pricing a lot of people out of the market and then those kinds of market economic factors move somewhere else over on the east side of town"
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The east end of town is experiencing 'reverse gentrification'.
"over on the east end of town over on 2nd street we end up in the reverse situation"
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Despite a consistently occupied train station, the surrounding area on the east side of town has a shocking number of abandoned and destroyed houses.
"my train station is always full of people as far as tenants go but driving over on that side of the street the number of abandoned and destroyed houses is absolutely shocking"
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Investors are crucial for preventing further deterioration of properties in the east end of town.
"if it wasn't for investors coming in to try and buy those properties and fix them up the whole that whole part of the east end would have just been even worse"
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Sanding woodwork would cost $250, while painting would cost $50, making painting the more financially sound option.
"if i was to sand it it would cost me probably 250 or we could paint it and i could do it for 50"
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Choosing single-pane vinyl windows over double-pane vinyl windows saves an additional $100.
"why do we have single pane vinyl windows here as opposed to double pane vinyl windows well that's an extra 100"
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Sanding all the woodwork in the unit would incur an additional cost of $10,000 to $15,000.
"why did we not sand all the wood work down in this specific unit well that'd be an extra 10 to 15 thousand dollars"
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Other investors in the area are choosing to invest more money in higher-end renovations and market improvements.
"other investors in this part of town that feel that it's worth it and they have made the choice to invest that money in the market"
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The speaker is under contract to purchase a business in Southern Ohio, with a closing date set for February 1st.
"i'm in contract to buy a really cool business opportunity here in southern ohio we're set to close on a february the first"
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The business being purchased cost less than $7,000.
"it's really cool but in that purchase i bought um the business for less than seven thousand dollars"
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The speaker purchased the post office property in 2016, and the current video is being filmed in 2021.
"this post office that i bought in 2016. here we are now in 2021 i guess that's five years ago"
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The speaker has facilitated $1.5 million in investment into the local area.
"we've already brought over like 1.5 million in investment to this area"
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An old hotel property is likely to be demolished.
"the hotel will probably be bulldozed unfortunately"
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