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00:00 good morning everybody this is Joe light 00:03 sorry about the sunglass it’s extremely 00:05 bright I am under here I have to keep a 00:07 lot I can’t see handy to a property that 00:10 my wife and I we’re partners own and I 00:15 wanted to talk real quickly about the 00:18 reason why I’m going is to check on the 00:19 progress of a half bathroom that we’re 00:21 installing so I want to talk about the 00:23 value that half bathroom would add to to 00:26 a property now the National Association 00:31 of Homebuilders estimates that a half 00:34 bathroom adds ten and a half percent 00:36 value onto a home and this property is 00:39 worth probably 160 maybe 170 actually 00:43 probably closer to 160 probably what 00:46 does better but so that brings us out 00:49 less $16,500 what this this bathroom 00:52 according to them will act just for your 00:55 information they estimate that a full 00:57 bathroom will add 20 percent value onto 00:59 onto a home so art we have a Mason great 01:06 guy very talented very gifted who’s 01:09 going to give us a half bathroom for 01:10 $4,000 01:12 now he’s I’m based in these Mason’s they 01:13 don’t care they don’t care about bricks 01:15 they don’t care about opening up walls 01:16 it’s nothing to them that’s what they do 01:18 whereas you have to talk to a contractor 01:21 it gets to be a big thing basing pulled 01:24 this off they’ll do it all day long so 01:27 basically when you subtract $16,500 or 01:30 I’m sorry subtract the $4,000 cost of 01:32 the bathroom from the 16,500 that will 01:34 get in equity it’s a great deal so it’s 01:38 kind of a no-brainer for us but our 01:39 reasons are actually other than just 01:41 monetary I mean it’s at least monetary 01:43 so I guess if you follow my train of 01:45 thought it eventually does get monetary 01:47 but we bake we inherited a tenant that 01:49 is not really ideal for us she’s an 01:52 elderly woman who is in incredibly poor 01:54 health 01:55 now we expected her to move out by now 01:59 she’s waiting to get to an assistive 02:01 living development and it just hasn’t 02:03 happened and it doesn’t look like it’s 02:04 going to happen anytime soon 02:07 so that’s kind of causing us a problem 02:09 because the property is actually worth 02:10 in rented far more than she’s actually 02:12 currently pay so as is right now she’s 02:15 paying five hundred and fifty dollars a 02:16 month on rent the property is worth 02:18 eight hundred and forty dollars a month 02:20 in rent as is you know when we’ve 02:21 finished we expect to get around eleven 02:24 twelve hundred dollars in rent so we 02:25 want to get in there we want to renovate 02:26 it we want to make it new we want to get 02:28 our equity back out so on and so forth 02:30 we want to do everything we do now we’re 02:33 not the business of being nice to old 02:35 ladies you know we’re not and I don’t 02:37 suggest you being the business of making 02:39 nice to old ladies there’s really not an 02:43 economical way foundation that you can 02:45 actually run your business being overly 02:47 nice to elderly ladies however we’re 02:50 definitely not the business of being 02:52 mean to elderly ladies either so my wife 02:55 and I are looking to boot this poor 02:58 woman who’s lived in this house for 12 02:59 years now where are we looking to crank 03:03 her rent up from five hundred and fifty 03:05 dollars to the forty that it should be 03:07 so we’re trying to figure this out 03:10 without damaging the tenant I don’t know 03:14 that I’m fully advocating that you do 03:16 what I do we don’t have to find our own 03:18 path this is my wife in my path but this 03:22 half bathroom actually helps us out 03:23 because she actually can’t get up the 03:25 stairs to use the bathroom so she 03:28 actually had a toilet installed in the 03:30 stairwell of the first floor so there’s 03:32 the toilet this random toilet just 03:34 sitting in the middle of the floor 03:35 horrified certainly attracts value from 03:39 the property so this half bathroom is 03:41 actually going to allow us taking rid of 03:43 that toilet it’s going to allow us to 03:46 give them a bathroom that they can use 03:48 so we can get into the only bathroom 03:50 that actually is there the full bathroom 03:52 and give it a full gut job and the 03:54 daughter can go sees an adult daughter 03:56 so you can go to the gym and shower 03:58 there and at least they’ll have a 03:59 bathroom that they can relieve 04:01 themselves the full bathroom upstairs is 04:05 just a full gut I mean everything has to 04:06 go the toilet has to go the tongue has 04:08 to go that vanity has to go the ceiling 04:10 has to go the walls the floor the 04:12 subfloor everything has to go so it’s 04:14 we’re going to need a good two weeks to 04:16 get in there and to do this you know 04:18 it’s a Philadelphia home 04:20 the largest really can’t throw a lot of 04:22 contractors in this room it’s too small 04:24 really if you had two contractors 04:26 working that that room it’s going to get 04:28 a little tight we’ll probably just use 04:29 one contractor and I’ll probably just go 04:31 there and work on it myself so again I 04:35 just want to talk real quickly about the 04:37 value a bathroom adds to a property and 04:39 maybe discuss some of the reasons why we 04:40 do what we do and I’m gonna upload some 04:43 photos of the before photos some during 04:46 photos and some after photos and 04:48 hopefully you guys can actually create a 04:50 dialogue and we can actually discuss in 04:52 the comments on this video the different 04:56 things that different improvements that 04:58 one would make and the value that it 05:02 might not anyways you guys enjoy your Saturday