#134 Cottage Country Real Estate with Steve Haid how to buy that second property
We have a great show for our listeners, let’s talk about buying that second property for yourself or to rent out, a place to getaway, a place to experience, a place to fixer upper. Steve is an expert in purchasing these types of properties and he has a lot of great information to share.
Find Steve @steve.haid on IG his website www.stevehaid.com his email stevenphaid@gmail.com and his phone number 416 277-6604
The wine is on the table, a bottle for each of the three nationalities represented on the show today, Portugal, Italy and Germany.
On with the show.
There is a massive push for 30- and 40-year-olds to purchase fixer upper waterfront cottages from the aging population. You would be surprised, there are a lot of cottages on the market. Steve recently purchased his own place up there last year, a 1900 two story that needs a lot of construction love and right off the bat, Steve’s budget doesn’t line up with construction reality, but the guys discuss what it would really cost and what type of contractor you will attract the lower your budget goes. You honestly get what you paid for.
Steve walks the listeners through the key steps involved in purchasing that property and it might not be a cottage on the lake, it could be rural, it could be a condo as the market grows up in cottage country. Steve is talking about a potential 20-30% return on your real estate investment. The conversation deviates into Manny never wanting to own a place up there himself because Manny is not an outdoorsy kind of guy and you will never catch Manny portaging or shitting in a thunderbox. The guys talk about working with all of the governing agencies up there and how particular they are when it comes to shorelines, wildlife and wearing camouflage pants.
We discuss tech and how everyone is now on wifi and data networks and how those details are assisting with security and home office functionality for cottage owners. Then Steve hijacks the conversation back to his own place and asks how long the renovation will take, Steve thinks a month, that way he can disappear to Costa Rica and return to a completed reno, not the case as Manny and John enlighten Steve on the truths of timelines. Steve speaks openly about how badly clients up in cottage country desperately want a “hands off” experience and want the contractor to take full responsibility over everything from the permits to design. John and Manny even suggest Steve should consider renovating his home into a passive home, especially after hearing that Steve spends over $1000 per month on electric heat.
So much to consider when it comes to cottage country living. Thanks so much Steve for walking us through the ups and downs of cottage purchasing, renovating, and living. John shares his latest and greatest phrase…Skills to pay the Bills. Use it guys.
Thank you to John my Guest CoHost from @craftandclerk and @stonesthrowconstruction and www.craftandclerk.com and www.stonesthrowconstruction.com
Want a sticker, contact Manny at info@theconstructionlife.com or info@hardcorerenos.com or DM Manny @hardcorerenos He will mail you a sticker free of charge anywhere in the world.
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