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Old 02-19-2020, 10:11 PM   #1 (permalink)
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Matt Risinger remodels a house for himself

Matt has been remodeling expensive houses for other people for years. He bought a home in his neighborhood and released a video saying that he would show how he remodels a house. Initially he said that he would rent it out, then it would be a vacation rental, and then he was remodeling it for his own family. His plan also keeps changing, which Dave Ramsey says is the way to make your project take too long and run over budget. It is not like he starts fixing something, realizes that it is worse than he initially thought, and now he needs to do more work, he keeps deciding to go bigger and better.

As of 02/19/2020 he has demolished a large part of his house and announced that he is starting over.

He is going to spend more than the house is worth and then have the most expensive house in the neighborhood?

These are the reaction videos of a millennial know-it-all, but I think that he makes good points:

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Old 02-19-2020, 10:28 PM   #2 (permalink)
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I only made it to the first real estate-flipping advertisement.

While he was introducing I looked at his channel page.:
  • How I Bought 6 Houses Telling the Government I Lost Money
  • Multifamily Real Estate 101: Cashflow like Grant Cardone & Ben Mallah
  • How I Trick Banks who Deny Me into Giving me Money
  • How I Built 9 Income Sources That Make $159,233 Per Month
  • Make Money off New Real Estate Rule Scamming
This is the sort of person who has made it impossible for your average worker drone to own a home. I like Matt Risinger, he makes things.

edit: Now this jerk is following me around Youtube.

https://youtu.be/1ganl2-YxCc

How about Thoughty2 instead of Shouty:


Finally, nine minutes in, he names the culprit —Le Corbusier. I expected as much. No mention of Corbu's Modulor, that's a terrible overisght. No recognition of Robert Graves [post-modernism] on the one hand or Frank Gehry [Guitar Museum] on the other. Laments the lack of curves in modern architecture then shows Sir Norman Foster's 30 St. Mary Axe.

2nd edit: I'll give him this, he ends up pointing out that the Pantheon is just as old as the Coliseum, but it's in better shape because people cared about it. I think it's one of the most important domes in the world.
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Old 02-19-2020, 11:54 PM   #3 (permalink)
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Kevin's video's comment section is 33% shills.

One indication I look for is do they provide a link to the subject of their video. He doesn't. Here's the whole playlist [seven videos]:
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Old 02-20-2020, 01:24 AM   #4 (permalink)
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He is friends with the guy who made the video claiming to get a Model 3 for $78 a month. However, the friend didn't, but he made tons and tons of money off of the video.

Meanwhile, Kevin posted a video months earlier about saving $25,000 on a Model S. He said all of the same stuff, but without the clickbait title, and hardly anyone watched it.

So, he uses clickbait. If he gets as bad as Shouty, I will stop watching him, too.

Quote:
Originally Posted by freebeard View Post
  • How I Bought 6 Houses Telling the Government I Lost Money
  • Multifamily Real Estate 101: Cashflow like Grant Cardone & Ben Mallah
  • How I Trick Banks who Deny Me into Giving me Money
  • How I Built 9 Income Sources That Make $159,233 Per Month
  • Make Money off New Real Estate Rule Scamming
He did lose money. He used to be a licensed contractor and thought that it would be great if, when he told his clients that if they did a, b, and c, it would increase their home value $x - y, he could say "I have some guys that will do it for you, you will not find a better price anywhere."

He grew the business too big too fast--a dozen employees, and closed shop. Harvard found that most contractors do not expand beyond a couple of employees.

He reported a loss on his taxes, but since he closed down the separate company that was a financial loss, the lenders ignore it, which was how was able to qualify for mortgages.

The second video is over half an hour long and he mentioned in the previous video that far fewer people watched the same information that he gives in his paid courses.

I am not summarizing 31:02, but the title isn't clickbait or confusing.

"How I Trick Banks who Deny Me into Giving me Money." That one is misleading. He doesn't trick them, he persuades them. He starts out with the rule of 234, for every $1 of debt, you need $2.34 of income to balance it out, but when he bought his Model S, he put it in his company's name, and financed it at 1.49%. When he applies for a mortgage, they don't see the company's liability.

He said that banks don't want people with 850 credit scores, those people don't spend money like those with a 740.

He doesn't write off expenses because it lowers his income, and he can't qualify as well. He depreciates them over three years, which doesn't count against him.

Does it reduce his tax liability as well as deducting?

If he is denied at one bank, he applies elsewhere. He needed to apply to seven places to get his first mortgage.

So, a couple of tricks to appeal better to banks.

"How I Built 9 Income Sources That Make $159,233 Per Month." Does that sound like clickbait? He is a realtor, he receives money for referring clients to other realtors, he has a YouTube channel, he receives ad revenue, he owns rentals, he sells courses, he does in-person classes, and he receives dividends from his stocks and interest from his Wealthfront account. He also receives enough money from his affiliate links to buy food for his family.

He promises to not sell anything at his classes, unlike everyone else.

He counted buying properties at a good deal and improving his net worth as income.

Okay...

"Make Money off New Real Estate Rule Scamming." The Realtor Association tried to solve the problem of realtors delaying putting homes on the market. The sign out front says "Coming Soon" and so does the listing on sites like RedFin. If people want to see the house, they need to go through the realtor selling it, and he receives double commissions.

Now the Association requires realtors to list homes within one business day. The loophole is that if you reach out to the realtor before they are required to list the home, you may be able to buy it cheaper, while the realtor gets double commission.

Is that a scam? No.

It is a loophole.

Another clickbait title.

You are surprised that the comment section is cancer?
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Old 02-20-2020, 02:20 AM   #5 (permalink)
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Quote:
You are surprised that the comment section is cancer?
Usually it's argumentation instead of boot-licking.

My parents said the only real money they ever was in real estate, but they continually remodeled as they lived in a succession of houses. When I was in grade school, we kids slept in sleeping bags on the dining room floor for six months while they moved the staircase.

Money [apparently] doesn't mean as much to me as space. That video I linked disparages Le Corbusier. He became famous for his high-rise housing blocks but he spent his last days in a tiny house.


You could make a replica in your yard. It would be 7.4 by 7.4 by 8.5 feet in size. As a designer he was a humanist (otherwise he was a fascist):
Quote:
The Modulor was a standard model of the human form which Le Corbusier devised to determine the correct amount of living space needed for residents in his buildings. It was also his rather original way of dealing with differences between the metric system and British or American system, since the Modulor was not attached to either one.

Le Corbusier explicitly used the golden ratio in his Modulor system for the scale of architectural proportion. He saw this system as a continuation of the long tradition of Vitruvius, Leonardo da Vinci's "Vitruvian Man", the work of Leon Battista Alberti, and others who used the proportions of the human body to improve the appearance and function of architecture. In addition to the golden ratio, Le Corbusier based the system on human measurements, Fibonacci numbers, and the double unit. Many scholars see the Modulor as a humanistic expression but it is also argued that: "It's exactly the opposite (...) It's the mathematicization of the body, the standardization of the body, the rationalization of the body."[78]
I'm more concerned with the psychological and spiritual effects of being in a space. Optimal is the Pantheon in Rome:

The oculus at the top has the proportions of the pupil of an eye. The dome my parents built had a 5ft pentagon on a 40ft hemisphere, but it was tinted plexiglass lest it bleach out the living room furniture.
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Old 02-20-2020, 03:35 AM   #6 (permalink)
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I am sure the people who bothered you hoped to get somewhere through flattery. I think that he knows a great deal, but periodically something he says does not make any sense to me.

In the remodel post that I made I shared that he suggested putting contact paper with a marble pattern on your countertops. Supposedly that cheap stuff would increase the value of your home a couple of thousand. I would think that as soon as someone touched it they would know that it is not any kind of stone and it would not last very long. I found the video that he linked and another woman posted a video about her six-month update. I guess that she said that it held up just fine, but her voice was absolutely intolerable, although I am sure that she is considered cool, and I am just out of touch. Regarding durability, someone commented on the first video that I watched "People keep saying it can melt. Girl, then just replace it. It won't be that hard it's paper."
Problems:
1. It may be called paper, but it is plastic, and plastic often causes problems when it melts.
2. How often do you want to replace sections of contact paper?
3. I had just thought that the seams would be noticeable, but instead of using as large pieces as possible, these women used many small pieces, resulting in more seams, but of course the pattern changed at the seams.
4.

I forget where I did the math on another video. Kevin said that you can go from $0 to retired in 9 years, saving $20,000 a year, buying a house with 3.5% down, fixing cosmetic things, renting it out, and repeating until you are able to retire.

The problem is that he did not give a number of details, so I do not have any idea how accurate my estimates were.

Like with the Tesla buying a tire company thread, I did the best math that I could, and I welcomed people providing information that I could not find on my own.

[I also thought that it was incredibly unlikely that Tesla would grow as fast as that kid suggested]

Anyway, unless I was missing something huge, Kevin's claims just did not add up. It is possible that it would take twelve years to create the cashflow that he said that you could build in nine, but that wasn't his premise.
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Old 03-08-2020, 11:55 PM   #7 (permalink)
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Kevin responds to a nineteen year old who wants to overimprove his second rental property

Allegedly he made hundreds of thousands of dollars drop-shipping. More likely, he made tons of money selling a course. I do not have any idea about his first one, but he showed the older roof and the popcorn ceiling, and said "Might as well raise the ceiling!"

Kevin explained everything a house has above the ceiling. So, just demolish the entire top of the house and rebuild one foot higher. That makes more sense than scraping popcorn and repairing a roof?

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Old 03-09-2020, 01:45 AM   #8 (permalink)
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Flipping houses doesn't interest me. But the thread title is about building and Matt Risinger.


If everyone built houses that can last 500 years then All Darc wouldn't be so dismissive of American building practices. This is the method I want to use on a 2x4 and plywood dome. What I learned is where the vapor barrier goes. The skin would be stainless steel, of course.

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Old 03-09-2020, 04:41 PM   #9 (permalink)
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"You won't believe how freebeard [what is the point of this?!] with one simple trick! His neighbors hate him!"

For how long do you really want homes to last? I feel that every couple of decades you would want to open up the walls and redo everything.

He compares putting on a jacket in the winter instead of shoving the fleece between your ribs.

I already have stuff between my ribs!

He seems to be a big fan of exterior insulation and he has shown homes with open walls.

Where does the wiring and plumbing go? Are you going to have that in plain sight?

Apparently a 2" foil-faced iso foam board has the r-value of 3.5 inches of rock wool or fiberglass. I would love to know about 4" boards, but I cannot find any!
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Old 03-09-2020, 05:36 PM   #10 (permalink)
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Hmmmm. Where to even start. Let's take them in order

Quote:
"You won't believe how freebeard [what is the point of this?!] with one simple trick! His neighbors hate him!"
Only my neighbor to the West, and everybody[else] hates him. He's been given 30-days notice for not-HOA violations. I've been putting up with the jerk's mental state for two years. A neighbor on the other side moved away to get away from his threats of violence, I just do a concealed carry. How did you know this anyway. ??
Quote:
For how long do you really want homes to last? I feel that every couple of decades you would want to open up the walls and redo everything.
Human's habit change but not that much. Interiors are re-modelable.
Quote:
He compares putting on a jacket in the winter instead of shoving the fleece between your ribs.
I literally cringed. Worstest analogy ever.
Quote:
He seems to be a big fan of exterior insulation and he has shown homes with open walls.

Where does the wiring and plumbing go? Are you going to have that in plain sight?
Use you imagination (cabinets and built-ins). In the case of domes, the interior walls should be radial and the doorbell and porch light are all that's needed on the exterior. Maybe a built-in Christmas laser lightshow?
Quote:
Apparently a 2" foil-faced iso foam board has the r-value of 3.5 inches of rock wool or fiberglass. I would love to know about 4" boards, but I cannot find any!
The two layers are lapped for a reason. A single layer would have gaps at the edges.

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