RUclips is my job...I make videos for a living and each one takes 40-60 hours on top of the time spent doing the renovation...It is not a cost or a savings in the renovation. You're basically asking to see my tax returns... Don't get me wrong, I'm very grateful for everyone that watches, and the life that RUclips allows me to have, but there is a line to how much of my personal life I'm willing to share.
@@modustrial Instead of giving actual numbers can you just say that with You tube revenue plus your commercial sponsors was it worth it to you to do all this work yourself over 4 years. In other words do you feel better off selling your old place and renovating the new place and in a better place fiscally?
Thats not really how it should be looked at... I quit my job as an attorney to make RUclips videos full time, and the first part of my life as a RUclipsr was spent documenting this renovation. Would I have made more as an attorney? Yes. But am I happier doing things I'm passionate about instead? 💯 Yes.
Ha, fair enough. Thank you!! And please do feel free to comment. I didn't mean to come off as angry... Your comment was not over the line whether joking or not. There were many others saying the same thing in a less tactful way. I chose this one to respond to and pin since I felt it was stated in a nice way 😃
@@20Millzie07 I don't think you understand the hypocrisy in telling someone not to get defensive, whilst getting defensive and saying "Won't be commenting again" because you got a factual reply instead of a high five for a "joke" that has been made hundreds of times before...
The fact that the cost of the whole renovation 687,340 + the DIY savings 263,800 is literally equal to 951,140 pretty much being the exact price the realtors came up with is pretty surprising.
Not really, by doing all the work in savings he kept that money and not being upside down he pays taxes on a space that could have been 30% higher without the labor/cost savings. It is worth 1.5 million in most places I think. Let's see how the tax accessor values it???@@robbertmadden1386
This is actually sooo insane, i literally been watching since u started this like ep 5 or 6 and literally watched every single eposide, i cant beleive its even been 4 years. holy
Yeah of course, because you let people know what your financial situation looks like. Except this guy who was a lawyer, where the building doesn't reflect his entire net worth, so he doesn't care.
Declan, your real cost was close to the professional valuation but your finishes are streets ahead of trade finishes and there’s no doubt that you have an exceptional property. How could you not love it ! Congratulations on your completion.
For anyone who's calculating profit, you don't get to count your DIY savings as profit if you're calculating this as an investment. The reason being he could have been doing the exact same work over a period of time which would have generated the same income. So in this case you have to take that savings and amortize that over 4 years. Which means he was only paid $5.5k/mo (or $35/hr) to do the build. For example he even said charged $16k for similar doors; Odds are if he JUST did doors over 4 years, he'd have made double that per month after you amoritize the net. It obviously get's a little grey since these videos are his real job. So he's actually taking double salary: 1) Construction Labor ($35/hr) 2) Video Production (what ever he earns against the videos). And the two jobs depend on each other. We wouldn't watch these videos if he had hired contractors for all the finishings, and he wouldn't be doing the labor if he wasn't making these videos. This is easier to understand if you think of him making, say, video-production centric videos on youtube - which garnered similar views/earnings (a la Potato Jet). And if that was his primary job, but he decided to renovate this building on the side as spec-job/investment. He wouldn't have done the labor himself, and it would be a pure investment. So in terms of investment, he spent $951,000 and this property has an estimated value of $950,000. That's a $1000 loss. If he had invested the exact same amount of money in the S&P 500 in 2020, his net profit would be $958,789 If he had invested the exact same amount of money in the S&P 500 in 2023, his net profit would be $237,750 If he had invested just the initial principal (building acquisition) into the S&P 500 ($350,000), his net profit would be $354,975 So in pure investment terms, He's earned a substantial loss when you include conservative opportunity costs. There's other factors you can easily apply here as well. For instance he loves doing this kind of stuff. He's building a brand in tandum which is the actual investment. His video production earnings well out-earned that $958,000 profit. My only real question is why hasn't the property appreciated in-it-of-itself over 4 years? If he had simply bought a single-family-home and never even touched it, it would have appreciated over that time. Almost all property have moved up something like 5-6% YOY.
I think you seriously under estimated the cost savings for finish trim installation. Nice place. Good job. This video clearly illustrates that renovating an old building into your home is neither cheap or easy.
I built my kitchen cabinets myself out of ply, the thing with them is you can keep painting and refinishing them as many times as you want, did a variation on his larder cabinets. I don't have a workshop either some stuff was precut at the wood yard but must was done using only a tracksaw
huge fan from taiwan. after watching your videos I tried to DIY my own house here after moving back to taiwan...its not easy at all~~~. so happy to see you making such a great recovery from the illness.
@@BarbershopReviews you wouldn't regret it. Will say it's a two person job to get em installed generally, but they work just as perfectly as all of my professionally installed units
@@paulkolbert1478 that's a super good point. I'm actually dealing with that now. One of my mother boards went out on one of them and basically just had to break down and buy a whole new unit
You really did a colossal job! Huge respect. It's worth every penny as you did it by yourself for yourself! But if the question is "was it financially feasible", you have to consider the opportunity costs. First of all, you need to take into account how much that capital would have been now, if you invested in a basket of etf, funds, bonds etc. instead. Considering the purchase was done right after covid and the markets surged since then, that would have amounted to a considerable amount of capital gain. Second, you need to consider how much money you would have earned in those 4 years if you invested your labor into another job. Don't get me wrong, I'm not suggesting that it would make more sense to keep your day job. You gave your heart, you loved what you did. I'm sure you don't regret it for a second. But to answer the question of financial feasibility, these costs must flow into that calculation. BTW I don't know know which neighborhood you're in but the estimation sounded very low to me for such a great place.
you 've put blood and tears in this build, the custom pieces of furniture and lights and the fact that are made from someone with valuable provenance, your aesthetic interventions that makes this building having value as a whole are immeasurable and I think will provide you and your family with a property of much greater value than the sum of its parts. I hope you enjoy it, can't wait for the next video with the channel updates!
One thing I like about your videos is that you always smile, even in difficult situations. I also admire your drive and your versatility in taking on complex challenges like building and installing your own cabinets. Spectacular job - well presented in your videos. Four years is a long time. For a future project, I think expanding your small penthouse on the roof into a larger penthouse with a bedroom with views, a bathroom and a kitchenette area would be a beautiful addition to your home. You would have to engineer it for the cold winters in Chicago, but it would be unique and beautiful. Also, building out a commercial storefront area on the first floor would be interesting and profitable for you. Again, great job. I am a licensed General Contractor in AZ and I learned a lot from watching your videos.
You looked about ready to cry at that estimate. Which honestly, I don't blame you one bit. II's been a rollercoaster for sure. I KNEW it'd come out being worth more than you put into it but man that is quite a lot! I was thinking maybe $750-800,000 or so. It's so good to hear all that hard work really has paid off. Congrats!
This remodel is going to be difficult to top; but you, MM, are the man to do this thing! Your comments on cost and where it is are right on; "Location, location, location" has been a mantra for Real Estate agents forever. But really, I think you did it most for yourself- your feel for how it ought to be in your world- and you didn't leave out the sprinkles. Absolutely stunning!
YOU ! You made me watch your renovation project for TWO HOURS ! And I am not even American ! And I am not even male ! And I am not even young ! And you made me subscibe and like and watch this as well !! GOOD JOB!! 🖤❤🧡 😊
I live in Chicago and can’t build a single thing, but I started watching because my friend in Australia asked me one day if I’d heard of you after he saw your videos. 2 years later and I’m showing my real estate agent girlfriend every video because you make it all so fun and easy to follow along to!
Cast iron plumbing is a pretty common requirement in commercial buildings, but everywhere else in the US allows rubber "no-hub" fittings instead lead joints which makes the install about as fast as PVC. Chicago has a pilot program to allow them, but it hasn't been rolled out to the whole city yet unfortunately
Crazy thing is the lead "seals" don't allow for any expansion - whereas the rubber ones do, it's actually a less efficient, more problematic system to use lead.
Cast iron is required due to sewer rats. I watch a plumber in New York that mentioned this. The rats can easily chew through PVC so the major cities only use cast iron for this reason.
@@glenziga7464 PVC is allowed underground, the problem with PVC is that it burns so it's not allowed where it could contribute to a fire in a commercial building. Being rat proof is just a bonus to being fireproof
Amazing that you've completed this monstrous task of renovating this building! I remember when you first purchased this and you thought it was going to only take a year! Regardless, you're driven and inspiring to each of us who watch your videos. Looking forward to the plans you have for the future, I'll be there to watch, like , and comment!
I am so ridiculously proud of how this space has turned out! I remember obsessing over this project starting in 2020, religiously watching it every time I got out of work. It is honestly such a beautiful piece of art and it still feels so cozy as well as opulent. You literally helped me picture how to describe my style by doing it right in front of me! I would easily pay over a million to live in this gorgeous space ❤
Excellent result! 4 years, eh? So that's how long I've been watching you climb this mountain. It's been a great journey and I can't wait to see what's next.
Wow! Just WOW! RUclips recommend your 2 hour video renovation from start to finish, watched it then this one. You did a great job on this property, with a pretty amazing taste, blending natural and industrial look into it. I especially love the natural wood you've put in there, very awesome and not overwhelming the look of the places you've used it in. Lawyer. Builder(DYI'er). Interior designer? Remodeling consultant? Man of many trades 😊 you've earned my subscription ❤.
Congratulations! You deserve it! You worked long and hard on this build and even almost lost your life. Now is the time to enjoy the fruits of your labor.
wow a lawyer and a modern industrial maker + a youtuber wow🎉😮🙌🏾🙌🏾 This is beyond such a gift, plus it caused your life wow, God is sooo good indeed! Thank you for sharing this…this video is really a legacy to last a lifetime..well done!👏👏 hi KC here from Philippines🇵🇭👋
I know exactly where this is. If you know Chicago, it’s not hard to figure out from the exterior shots. It’s in a decent neighborhood on the north side off of a fairly busy street. I’m honestly surprised it wasn’t at least valued at 1.5m, with both the residential and commercial spaces.
Mayfair / Albany Park (the address is shown in the video). Not one of the trendy neighborhoods, but by no means a bad area. Walkable to the blue line and elston while commerical is a nice street.
We've just had a full refurb and extension done on our house, it really isn't about cost the whole thing has changed our life and the way we live Your workshop is a dream so much space and you have the standard of living you want
Thanks for documenting this incredible journey. Definitely enjoyed watching the entire series, and seeing everything come together along the way. Can't wait to see what you do next!
Congrats bro! Been here since before you started this project (when you were doing those fine benches and sinks). Your craftsmanship always fascinated me and this project is the crown jewel. Love it!
Wow has it really been 4 years? I remember the first video of yours that I watched being the one where you were in the process of moving out of your apartment having just purchased this warehouse. My, how time flies! I really do have to thank you though. Your channel and a handful of others kept me distracted, if only for a little while, from the grim, dark and depressing reality of the outside world during those 2 years of Covid. I really cannot thank you enough.
Stuff in America costs so much 😳. Started watching just before covid and watched start to finish of this whole build. From a run down building to an extravagant multi million $ looking home 😍 loved every second of it.
I am so happy we were able to help so much with the build. I guessed about 500k or so, I wasnt far off. I guessed a million if you sold it, dang, I was close! Congrats man.
A 'permit expediter', especially for $1500, is truly criminal. These are already servants on the public dollar, but if you want them to do their damn job, you have to bribe them?
A permit expediter doesn’t work for the city and isn’t a public employee. The architect hires them to do all the permit submittal and coordination with the city. You don’t want to be paying your architect’s hourly rate to burn your money meeting with permit office.
@@Hot_GuacThey also typically have a deep understanding of the local codes and practices which makes things much easier. They are often essential - or at least worht their price - when doing development in commercial areas
The reason that cities like Chicago and NYC require copper and iron versus PVC and Pex is union pressure. The idea is to protect the plumbing industry from DIYers.
@@modustrialUnions vote. Union members also make more money on average than non- and that money generally goes back into the local communities where they live, increasing overall quality in their community and contributing (hopefully) to net increase in local population. Great cost breakdown video! Thanks
@@modustrial I think it was Season 19 (~1998) of This Old House set in San Francisco that was already entirely explicit about the adherence to old plumbing methods being due to union pressure. In their case I believe it was about copper for everything, including drainage plumbing.
I’m surprised at the amount of “DIY and RUclips savings”. I thought it’d be less but it shows that some things are better to DIY than buy. It’s a shame that the renovation is over but now the older style of videos can come back.
Looking back to the beginning, the realization hits that I have spent a lot of time watching this building transformation. I found the channel at the start of this journey, and haven't missed a single video. It has been a great vicarious experience, and I can't wait for more.
Damn Mike, ain't that the cherry on top! So are you thinking of doing a split entrance? Oh, and is there any thought to a garage renovation? I bet you get up every morning, go down to that kitchen, and just say "aaaaaaahhhhhh"! Seriously, all of us in the comments saying it's AMAZING just doesn't do it justice. Maybe you could teach some classes on CNC and concrete fabrication in your shop!
I guess Chicago is kind of a weird city in that it actually has an appropriate amount of available housing unlike almost any other city in the USA lol. I feel like this building in my relatively small town would cost just as much as it does in Chicago.
You started this four years ago? I remember being in my parents basement when the series came out and loved it. Moved twice since then, how things change! Keep crushing it
Has it really been 4 years. Damn. You came in my feed, and Ive never stopped watching since episode 1. The only renovation series that's honest about mistakes / costs and where you and / of the money came from. Really curious about what you'll be cooking up next. Buy another building and another X year long series? Count me in!
Me, who lives in Sydney watching this, was guessing 2 million minimum (AUD) which is about 1.36 million USD (as of right now in July 2024) with inflation and round up costs, 1.5 million USD easy. Great work on this renovation man. Brilliant!
Even if your estimates on labour (let’s be honest labour is expensive as hell) is wrong you still saved so much doing everything yourself, thanks for being honest on RUclipsr savings to, you saved so much! Well done, on to the next one!
I do wonder if you could've gotten more deals as a RUclipsr if you reached out to every single company that made the stuff you needed. Also, what about free stuff in exchange for showing off their products? Like if you reached out to Bosch or Samsung for stuff in your kitchen. Either way, incredible job! Just finished your 2+ hour video of the whole process. Legit watched it all. Fell asleep as it was late but woke up and rewinded it to make sure I didn't miss anything. 😁 Does that count as watching twice? Anyways, thanks for the content and sorry for your loss, your health scare and unfortunate timing of your break up. You did however end up with this amazing building! Very inspiring!
Thanks for the follow up detailing the expeditures/savings. This has been a dream of mine, but I don't think I'll be able to bring it to a reality... so I'll have to be happy living vicariously through your experience! I'm very greatful that you decide to share your journey with us!
Just watched the full Reno video. Thank you so much for posting this and giving a breakdown of cost and being up front about sponsorships and DIY costs ❤ Gives us laymen folks a rough idea of what money we would spend regardless. 👍 OTHER RUclipsRS TAKE NOTES FROM THIS MAN!! 👌
This is by far the best pandemic content I have watched. For your blueprints to be well under 10% of the total cost, I think you got a great price. Excellent video as usual!
I don’t understand why people get so butt hurt about RUclipsrs making money from their RUclips channel ! It’s so much sour grapes and maybe jealousy that someone else is being paid for their work. Do these people begrudge the waitress her tips she worked for ? I think they don’t have any concept of what work goes on behind the scenes. I’m sure I don’t understand all the behind the scenes work either, not to mention the planning, the imagination, the entrepreneurial talent involved. I just know I don’t have what it takes but I appreciate that you do ! TY for sharing your journey and your honesty about the financials. Take care ❤
Been watching Modustrial periodically for a few years now. Congratulations on (nearly) completing the renovations to your new home/studio/shop and on your ~$300k savings/gains.
I can't believe it's been four years. I remember watching the very first video in this renovation and I've watched every single one since. I'm glad the valuation is higher than you expected. It certainly justifies the high value
I am so glad to be following you from a very long time. You are one of the best if not the best in this field. I enjoyed every moment of ur uploads. You are very honest and a kind person. you are talented and u got a nice taste in designing. The way u document this and presented its amazing. As well as the editing these videos. All I can say is (hats off) ❤
Great stuff. I have been watching since the beginning. I remember watching the tour of the old place before you sold it. I am so happy for you! All of your hard work is not only paying off financially, but mentally/spiritually you seem to be fulfilled and on the right path. Keep moving forward because running water does not go stale...
Congrats on conceiving and seeing through such an incredible passion project. I’m not sure how long I’ve been watching your channel, but since well before you started the warehouse renovation. It’s so cool and inspiring to see someone living their dream. Thank you for sharing!
Excellent breakdown and considering the rooftop bonus, I would already think you have over a 1 million valued property, congrads and thanks for the fabulous videos. Please take care of yourself as life is the most valuable commodity.
Your home is beautiful. I’ve been watching since the beginning and you are a very talented young man. Best of everything to you. I can’t wait to see you making things down in the workshop.
Thanks for sharing. I know some DIY RUclipsrs in the past have dealt with a lot of cyberstalking, trespassing, and a lot of rudeness in the comments. So, pretty cool for you to be brave enough to post this. Glad it ended up the way it did. I've been following since day 1.
been watching since Episode 1 of this series, its amazing what youve done from episode 1 leading up to now! well deserved amazing HOME! its crazy to think that building is your HOME! keep em coming man! Love it!
Me and wife bought a house and renovated it over the last couple of months. Probably increased the value by at least 40%. Thank you for the inspiration! 😊
As an assistant manager of an Ace Hardware, your use of Ben Moore Regal Chantilly Lace was wonderful to see! Cant wait to see what's next. Have been watching since the beginning.
As someone new to start a new you tube channel and make videos about my life and things that I succeed in. I was just wondering what type of money do you get paid for your videos and can you do really well at this career wise once you’ve edited them and posted them, also do you get paid automatically or do you have to apply for payment, any information you could pass on would be appreciated and also keep up with your videos as I really like them and that’s the reason I asked you for advise thank you Paul
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How much did you make on RUclips so we can understand the full profit? 😅
RUclips is my job...I make videos for a living and each one takes 40-60 hours on top of the time spent doing the renovation...It is not a cost or a savings in the renovation. You're basically asking to see my tax returns... Don't get me wrong, I'm very grateful for everyone that watches, and the life that RUclips allows me to have, but there is a line to how much of my personal life I'm willing to share.
@@modustrial Instead of giving actual numbers can you just say that with You tube revenue plus your commercial sponsors was it worth it to you to do all this work yourself over 4 years. In other words do you feel better off selling your old place and renovating the new place and in a better place fiscally?
Thats not really how it should be looked at... I quit my job as an attorney to make RUclips videos full time, and the first part of my life as a RUclipsr was spent documenting this renovation. Would I have made more as an attorney? Yes. But am I happier doing things I'm passionate about instead? 💯 Yes.
Ha, fair enough. Thank you!! And please do feel free to comment. I didn't mean to come off as angry... Your comment was not over the line whether joking or not. There were many others saying the same thing in a less tactful way. I chose this one to respond to and pin since I felt it was stated in a nice way 😃
@@20Millzie07 I don't think you understand the hypocrisy in telling someone not to get defensive, whilst getting defensive and saying "Won't be commenting again" because you got a factual reply instead of a high five for a "joke" that has been made hundreds of times before...
The fact that the cost of the whole renovation 687,340 + the DIY savings 263,800 is literally equal to 951,140 pretty much being the exact price the realtors came up with is pretty surprising.
Yeah so he broke even, right.?
@@robbertmadden1386no. He saved $260k+ - if everything was hired out he would have broke even
@@robbertmadden1386 If he didn´t do the DIY yeah.
Not really, by doing all the work in savings he kept that money and not being upside down he pays taxes on a space that could have been 30% higher without the labor/cost savings. It is worth 1.5 million in most places I think. Let's see how the tax accessor values it???@@robbertmadden1386
@@robbertmadden1386 It's still in Chicago.
4:12 Having done electrical work for over 20 years, I can tell you, that starting over was the way to go. Trying to retrofit stuff rarely works out.
Easier to start over but way more expensive. Not many people can do what this guy did.
Agreed!
Having never done electrical work in my life, I can also tell you that I agree.
This guy is a great influencer. This isn't a stupid idea at all.
Thank you!!
This is actually sooo insane, i literally been watching since u started this like ep 5 or 6 and literally watched every single eposide, i cant beleive its even been 4 years. holy
Thanks!!!
Totally agree, four years has really passed by fast 💨😅! Thanks for all the videos!
Same here , good job
I know. I remember watching during the height of COVID. Time flies.
Same here, I bought my place during Covid and I been watching this channel since then. 😅
You are the only major renovation that I've seen that has spoken realistically about costs.Every other renovation treats costs are a magical mystery.
Yeah of course, because you let people know what your financial situation looks like. Except this guy who was a lawyer, where the building doesn't reflect his entire net worth, so he doesn't care.
I was literally going to the comments to say this, so many times when the 'estimates' are laid out, they are totally unrealistic.
Nothing realistic about these costs. They are massively underestimated
He did a good job of estimating the cost of renovation. The amount over the budget wasn't that bad at all.
Love the transparancy about all the RUclipsr cost savings
Same. I'd also be interested to see how much was recuperated via RUclips monetization as well
Declan, your real cost was close to the professional valuation but your finishes are streets ahead of trade finishes and there’s no doubt that you have an exceptional property. How could you not love it ! Congratulations on your completion.
thank you!
Lol, streets ahead.
Total Cost - $687,340
DIY savings- $263,800
Estate agents valuation $959,000
That’s really not so much profit as it might sound, when one spreads it over 4 years.
@@jpp7783 Money from youtube vids too buddy, overall its pretty good.
RUclips Profits: millions!
@@jpp7783 Plus he counted his own time as profit against hired help, but didn't value the opportunity cost of his own time working as a lawyer.
For anyone who's calculating profit, you don't get to count your DIY savings as profit if you're calculating this as an investment. The reason being he could have been doing the exact same work over a period of time which would have generated the same income. So in this case you have to take that savings and amortize that over 4 years. Which means he was only paid $5.5k/mo (or $35/hr) to do the build. For example he even said charged $16k for similar doors; Odds are if he JUST did doors over 4 years, he'd have made double that per month after you amoritize the net.
It obviously get's a little grey since these videos are his real job. So he's actually taking double salary: 1) Construction Labor ($35/hr) 2) Video Production (what ever he earns against the videos). And the two jobs depend on each other. We wouldn't watch these videos if he had hired contractors for all the finishings, and he wouldn't be doing the labor if he wasn't making these videos. This is easier to understand if you think of him making, say, video-production centric videos on youtube - which garnered similar views/earnings (a la Potato Jet). And if that was his primary job, but he decided to renovate this building on the side as spec-job/investment. He wouldn't have done the labor himself, and it would be a pure investment.
So in terms of investment, he spent $951,000 and this property has an estimated value of $950,000. That's a $1000 loss.
If he had invested the exact same amount of money in the S&P 500 in 2020, his net profit would be $958,789
If he had invested the exact same amount of money in the S&P 500 in 2023, his net profit would be $237,750
If he had invested just the initial principal (building acquisition) into the S&P 500 ($350,000), his net profit would be $354,975
So in pure investment terms, He's earned a substantial loss when you include conservative opportunity costs. There's other factors you can easily apply here as well. For instance he loves doing this kind of stuff. He's building a brand in tandum which is the actual investment. His video production earnings well out-earned that $958,000 profit.
My only real question is why hasn't the property appreciated in-it-of-itself over 4 years? If he had simply bought a single-family-home and never even touched it, it would have appreciated over that time. Almost all property have moved up something like 5-6% YOY.
I think you seriously under estimated the cost savings for finish trim installation. Nice place. Good job. This video clearly illustrates that renovating an old building into your home is neither cheap or easy.
I built my kitchen cabinets myself out of ply, the thing with them is you can keep painting and refinishing them as many times as you want, did a variation on his larder cabinets.
I don't have a workshop either some stuff was precut at the wood yard but must was done using only a tracksaw
huge fan from taiwan. after watching your videos I tried to DIY my own house here after moving back to taiwan...its not easy at all~~~. so happy to see you making such a great recovery from the illness.
Thank you!! 🙏
As an attorney... He was shocked by the cost of an architect...?!!
Well in all my days. The pot calling the kettle black...
😂
🤣
lmaoooooooo
I've installed 6 of those Mr. Cool units in my business. Saved me THOUSANDS. Love those things. Highly recommend em for sure
They're great!
Yea I saw them recently, and really looking to get the 2 zone system for my garage and a hot room. Looks super simple and pricing is great!
@@BarbershopReviews you wouldn't regret it. Will say it's a two person job to get em installed generally, but they work just as perfectly as all of my professionally installed units
Only issue with MR cool is no hvac company will touch them. They are hard to service. And hard to warranty since it’s a diy install
@@paulkolbert1478 that's a super good point. I'm actually dealing with that now. One of my mother boards went out on one of them and basically just had to break down and buy a whole new unit
Been here since the first video, amazing journey, probs my favorite series to follow this past few years.
thank you!
You really did a colossal job! Huge respect. It's worth every penny as you did it by yourself for yourself!
But if the question is "was it financially feasible", you have to consider the opportunity costs.
First of all, you need to take into account how much that capital would have been now, if you invested in a basket of etf, funds, bonds etc. instead. Considering the purchase was done right after covid and the markets surged since then, that would have amounted to a considerable amount of capital gain.
Second, you need to consider how much money you would have earned in those 4 years if you invested your labor into another job. Don't get me wrong, I'm not suggesting that it would make more sense to keep your day job. You gave your heart, you loved what you did. I'm sure you don't regret it for a second. But to answer the question of financial feasibility, these costs must flow into that calculation.
BTW I don't know know which neighborhood you're in but the estimation sounded very low to me for such a great place.
Best renovation series on RUclips hands-down, and this cost breakdown just tops it off.
you 've put blood and tears in this build, the custom pieces of furniture and lights and the fact that are made from someone with valuable provenance, your aesthetic interventions that makes this building having value as a whole are immeasurable and I think will provide you and your family with a property of much greater value than the sum of its parts. I hope you enjoy it, can't wait for the next video with the channel updates!
One thing I like about your videos is that you always smile, even in difficult situations. I also admire your drive and your versatility in taking on complex challenges like building and installing your own cabinets. Spectacular job - well presented in your videos. Four years is a long time.
For a future project, I think expanding your small penthouse on the roof into a larger penthouse with a bedroom with views, a bathroom and a kitchenette area would be a beautiful addition to your home. You would have to engineer it for the cold winters in Chicago, but it would be unique and beautiful.
Also, building out a commercial storefront area on the first floor would be interesting and profitable for you.
Again, great job. I am a licensed General Contractor in AZ and I learned a lot from watching your videos.
You looked about ready to cry at that estimate. Which honestly, I don't blame you one bit. II's been a rollercoaster for sure. I KNEW it'd come out being worth more than you put into it but man that is quite a lot! I was thinking maybe $750-800,000 or so. It's so good to hear all that hard work really has paid off. Congrats!
I very much appreciate the candid breakdown of everything that went into the build and construction of it all.
thank you!
This remodel is going to be difficult to top; but you, MM, are the man to do this thing! Your comments on cost and where it is are right on; "Location, location, location" has been a mantra for Real Estate agents forever. But really, I think you did it most for yourself- your feel for how it ought to be in your world- and you didn't leave out the sprinkles. Absolutely stunning!
But noone lives there on purpose.
YOU ! You made me watch your renovation project for TWO HOURS ! And I am not even American ! And I am not even male ! And I am not even young !
And you made me subscibe and like and watch this as well !! GOOD JOB!! 🖤❤🧡 😊
ha, thank you!! 🙏🙏
I live in Chicago and can’t build a single thing, but I started watching because my friend in Australia asked me one day if I’d heard of you after he saw your videos. 2 years later and I’m showing my real estate agent girlfriend every video because you make it all so fun and easy to follow along to!
Cast iron plumbing is a pretty common requirement in commercial buildings, but everywhere else in the US allows rubber "no-hub" fittings instead lead joints which makes the install about as fast as PVC. Chicago has a pilot program to allow them, but it hasn't been rolled out to the whole city yet unfortunately
That would be so nice!
Des Moines Iowa has the cast iron but allows the rubber.
Crazy thing is the lead "seals" don't allow for any expansion - whereas the rubber ones do, it's actually a less efficient, more problematic system to use lead.
Cast iron is required due to sewer rats. I watch a plumber in New York that mentioned this. The rats can easily chew through PVC so the major cities only use cast iron for this reason.
@@glenziga7464 PVC is allowed underground, the problem with PVC is that it burns so it's not allowed where it could contribute to a fire in a commercial building. Being rat proof is just a bonus to being fireproof
This is amazing.
After 4 years of patience, the reward of completion must feel incredibly good.
Congratulations!
Amazing that you've completed this monstrous task of renovating this building! I remember when you first purchased this and you thought it was going to only take a year! Regardless, you're driven and inspiring to each of us who watch your videos. Looking forward to the plans you have for the future, I'll be there to watch, like , and comment!
I am so ridiculously proud of how this space has turned out! I remember obsessing over this project starting in 2020, religiously watching it every time I got out of work. It is honestly such a beautiful piece of art and it still feels so cozy as well as opulent. You literally helped me picture how to describe my style by doing it right in front of me! I would easily pay over a million to live in this gorgeous space ❤
Excellent result! 4 years, eh? So that's how long I've been watching you climb this mountain. It's been a great journey and I can't wait to see what's next.
Wow! Just WOW! RUclips recommend your 2 hour video renovation from start to finish, watched it then this one. You did a great job on this property, with a pretty amazing taste, blending natural and industrial look into it. I especially love the natural wood you've put in there, very awesome and not overwhelming the look of the places you've used it in. Lawyer. Builder(DYI'er). Interior designer? Remodeling consultant? Man of many trades 😊 you've earned my subscription ❤.
I feel so much closure. Nice Job dude!
I love the transparency! Not too many people talk about this stuff.
Congratulations! You deserve it! You worked long and hard on this build and even almost lost your life. Now is the time to enjoy the fruits of your labor.
Totally agree, but £10 says he's sold up and bought the next renovation project within the next 18-24 months 😉
@@oliverking9951 I don't think so. He loves this place. He bought and reno'ed it for him to live in and have his business on the first floor.
I recognise a serial renovator when I see one. It's 90% the renovation process and 10% enjoying the fruits of the labour 😉
wow a lawyer and a modern industrial maker + a youtuber wow🎉😮🙌🏾🙌🏾 This is beyond such a gift, plus it caused your life wow, God is sooo good indeed! Thank you for sharing this…this video is really a legacy to last a lifetime..well done!👏👏 hi KC here from Philippines🇵🇭👋
What neighborhood in Chicago? Estimate seems low.. This would be 3m in other big cities
Yeah, my initial guess was $2.5M.
It's in the hood
I know exactly where this is. If you know Chicago, it’s not hard to figure out from the exterior shots. It’s in a decent neighborhood on the north side off of a fairly busy street. I’m honestly surprised it wasn’t at least valued at 1.5m, with both the residential and commercial spaces.
Mayfair / Albany Park (the address is shown in the video). Not one of the trendy neighborhoods, but by no means a bad area. Walkable to the blue line and elston while commerical is a nice street.
@@Joe11100No it’s not, clown. I know exactly where this is, definitely NOT the hood. 🤣👉🏽🤡
We've just had a full refurb and extension done on our house, it really isn't about cost the whole thing has changed our life and the way we live
Your workshop is a dream so much space and you have the standard of living you want
Thanks for documenting this incredible journey. Definitely enjoyed watching the entire series, and seeing everything come together along the way. Can't wait to see what you do next!
Thanks much!
Congrats bro! Been here since before you started this project (when you were doing those fine benches and sinks). Your craftsmanship always fascinated me and this project is the crown jewel. Love it!
This series was so much fun to watch! I can't wait for the shop renovation videos (:
thank you!
Wow has it really been 4 years? I remember the first video of yours that I watched being the one where you were in the process of moving out of your apartment having just purchased this warehouse. My, how time flies! I really do have to thank you though. Your channel and a handful of others kept me distracted, if only for a little while, from the grim, dark and depressing reality of the outside world during those 2 years of Covid. I really cannot thank you enough.
Stuff in America costs so much 😳. Started watching just before covid and watched start to finish of this whole build. From a run down building to an extravagant multi million $ looking home 😍 loved every second of it.
We also make much more
I am so happy we were able to help so much with the build. I guessed about 500k or so, I wasnt far off. I guessed a million if you sold it, dang, I was close! Congrats man.
A 'permit expediter', especially for $1500, is truly criminal. These are already servants on the public dollar, but if you want them to do their damn job, you have to bribe them?
A permit expediter doesn’t work for the city and isn’t a public employee. The architect hires them to do all the permit submittal and coordination with the city. You don’t want to be paying your architect’s hourly rate to burn your money meeting with permit office.
@@Hot_GuacThey also typically have a deep understanding of the local codes and practices which makes things much easier. They are often essential - or at least worht their price - when doing development in commercial areas
I said this when I first started watching... This is literally a dream opportunity. I would totally put a gallery/storefront downstairs. 😍
thank you!
The reason that cities like Chicago and NYC require copper and iron versus PVC and Pex is union pressure. The idea is to protect the plumbing industry from DIYers.
No one will say it out loud but it seems like that's what it is...
@@modustrialUnions vote. Union members also make more money on average than non- and that money generally goes back into the local communities where they live, increasing overall quality in their community and contributing (hopefully) to net increase in local population. Great cost breakdown video! Thanks
Cities also have buildings that are well over a hundred years old. Copper and iron is known to last that long. The Jury’s still out on PVC/PEX.
@@modustrial I think it was Season 19 (~1998) of This Old House set in San Francisco that was already entirely explicit about the adherence to old plumbing methods being due to union pressure. In their case I believe it was about copper for everything, including drainage plumbing.
I remember watching many episodes towards the beginning of this project and hadnt seen an update in awhile. Congrats on finishing! Looks incredible
Thanks!
I’m surprised at the amount of “DIY and RUclips savings”. I thought it’d be less but it shows that some things are better to DIY than buy.
It’s a shame that the renovation is over but now the older style of videos can come back.
Labor is the most expensive part of home building and renovations. He likely actually saved another $50k-100K.
Man, I remember seen a video recommended to me about a dude that bought a building and was gonna renovate, now seeing it complete feels nice 🎉
I took a shot every time he said "high end" & "conservative estimate" and nearly died.
Looking back to the beginning, the realization hits that I have spent a lot of time watching this building transformation. I found the channel at the start of this journey, and haven't missed a single video. It has been a great vicarious experience, and I can't wait for more.
Damn Mike, ain't that the cherry on top! So are you thinking of doing a split entrance? Oh, and is there any thought to a garage renovation? I bet you get up every morning, go down to that kitchen, and just say "aaaaaaahhhhhh"! Seriously, all of us in the comments saying it's AMAZING just doesn't do it justice. Maybe you could teach some classes on CNC and concrete fabrication in your shop!
Note to self, in order to do anything cool, step one have money. Yeah imma go cry in the corner over here
I have been watching you for more then 4 years! You have created a magnificent home ! Congratulations 🎉
I guess Chicago is kind of a weird city in that it actually has an appropriate amount of available housing unlike almost any other city in the USA lol. I feel like this building in my relatively small town would cost just as much as it does in Chicago.
I have been watching from the beginning and feel that what you have created is truly unique. Priceless! Thanks for sharing.
I was surprised about the valuation I was thinking around 1.2 million or so
You started this four years ago? I remember being in my parents basement when the series came out and loved it. Moved twice since then, how things change! Keep crushing it
Ally and Holly are off ! Easily a million and a half in my opinion!
it wasn't a high ball estimate you might get if looking to sell, harder sell with business and condo combo.
Can’t believe it’s been 4 years, what an accomplishment and amazing home to hang your hat on. Congrats and looking forward to what’s to come
Rats can't bite through metal plumbing, hence the code requirement. It's an old building.
I kinda got the vibe that he was expecting a higher appraisal and I was too. I think its worth way more. I loved the series!
actually was expecting less....that was a nice surprise
Note to self...."Don't live in Chicago."
Great job! I started watching from the first episode! Four years of work really paid off, congratulations on the completion of your project!
Feels like you started this series yesterday. We loved watching the entire process!
Has it really been 4 years. Damn. You came in my feed, and Ive never stopped watching since episode 1. The only renovation series that's honest about mistakes / costs and where you and / of the money came from. Really curious about what you'll be cooking up next. Buy another building and another X year long series? Count me in!
i’m not sure how your very first video was recommended to me 4 years ago, but i’m glad it happened
me too ;)
Me, who lives in Sydney watching this, was guessing 2 million minimum (AUD) which is about 1.36 million USD (as of right now in July 2024) with inflation and round up costs, 1.5 million USD easy. Great work on this renovation man. Brilliant!
I am so proud of you bro. You have worked hard your whole life to get to this point, keep grinding!
We loved this series, can't believe it has been 4 years.
Looks so amazing and very inspiring.
Even if your estimates on labour (let’s be honest labour is expensive as hell) is wrong you still saved so much doing everything yourself, thanks for being honest on RUclipsr savings to, you saved so much! Well done, on to the next one!
I do wonder if you could've gotten more deals as a RUclipsr if you reached out to every single company that made the stuff you needed. Also, what about free stuff in exchange for showing off their products? Like if you reached out to Bosch or Samsung for stuff in your kitchen. Either way, incredible job! Just finished your 2+ hour video of the whole process. Legit watched it all. Fell asleep as it was late but woke up and rewinded it to make sure I didn't miss anything. 😁 Does that count as watching twice? Anyways, thanks for the content and sorry for your loss, your health scare and unfortunate timing of your break up.
You did however end up with this amazing building! Very inspiring!
Thanks for the follow up detailing the expeditures/savings. This has been a dream of mine, but I don't think I'll be able to bring it to a reality... so I'll have to be happy living vicariously through your experience! I'm very greatful that you decide to share your journey with us!
I cant believe I watched this man build this whole thing from the very beginning.
Same here 😅
I live in plymouth Ma, and that's actually low here. How is Chicago cheaper than Plymouth, home of the Pilgrims, MA?
Just watched the full Reno video. Thank you so much for posting this and giving a breakdown of cost and being up front about sponsorships and DIY costs ❤ Gives us laymen folks a rough idea of what money we would spend regardless. 👍 OTHER RUclipsRS TAKE NOTES FROM THIS MAN!! 👌
Thanks!
This is by far the best pandemic content I have watched. For your blueprints to be well under 10% of the total cost, I think you got a great price. Excellent video as usual!
I'm astounded it wasn't over the seven figure mark, honestly. Absolutely fantastic job on the renovation, I'm looking forward to see what you do next!
I think the place is worth far more to you than the market value. What a home!
I don’t understand why people get so butt hurt about RUclipsrs making money from their RUclips channel ! It’s so much sour grapes and maybe jealousy that someone else is being paid for their work. Do these people begrudge the waitress her tips she worked for ? I think they don’t have any concept of what work goes on behind the scenes. I’m sure I don’t understand all the behind the scenes work either, not to mention the planning, the imagination, the entrepreneurial talent involved. I just know I don’t have what it takes but I appreciate that you do ! TY for sharing your journey and your honesty about the financials. Take care ❤
Been watching Modustrial periodically for a few years now. Congratulations on (nearly) completing the renovations to your new home/studio/shop and on your ~$300k savings/gains.
I can't believe it's been four years. I remember watching the very first video in this renovation and I've watched every single one since. I'm glad the valuation is higher than you expected. It certainly justifies the high value
You are such an amazing person. God and his angels have your back! Keep being the best you
I am so glad to be following you from a very long time. You are one of the best if not the best in this field. I enjoyed every moment of ur uploads. You are very honest and a kind person. you are talented and u got a nice taste in designing. The way u document this and presented its amazing. As well as the editing these videos. All I can say is (hats off) ❤
thank you for the very kind words!!
Great stuff. I have been watching since the beginning. I remember watching the tour of the old place before you sold it. I am so happy for you! All of your hard work is not only paying off financially, but mentally/spiritually you seem to be fulfilled and on the right path. Keep moving forward because running water does not go stale...
Congrats on conceiving and seeing through such an incredible passion project. I’m not sure how long I’ve been watching your channel, but since well before you started the warehouse renovation. It’s so cool and inspiring to see someone living their dream. Thank you for sharing!
grats, homie. most important thing is that you enjoy living there. good luck
I have followed the build since day one, it has been a hell of a journey. Amazing job ❤
What a great buildout! And i just really heard what you said... I've been watching your channel for over 4 years. Keep up the good work
This series has inspired me to do a lot of RUclips documenting of a project I hope to start in 6 years. I'll keep you posted.
That's awesome! Can't wait to see!
I’ve watched from day one.
Great design and execution.
Thanks for all the cool videos.
Keep on rocking.
Excellent breakdown and considering the rooftop bonus, I would already think you have over a 1 million valued property, congrads and thanks for the fabulous videos. Please take care of yourself as life is the most valuable commodity.
Your home is beautiful. I’ve been watching since the beginning and you are a very talented young man. Best of everything to you. I can’t wait to see you making things down in the workshop.
@modustrial maker... man a huge fan from India, i have been hooked to your renovation videos since the Covid era, I am glad to have seen this journey.
Thank you!
Thanks for sharing. I know some DIY RUclipsrs in the past have dealt with a lot of cyberstalking, trespassing, and a lot of rudeness in the comments. So, pretty cool for you to be brave enough to post this. Glad it ended up the way it did. I've been following since day 1.
thank you! I try to put good vibes into the world, and hope the world sends good vibes back :)
been watching since Episode 1 of this series, its amazing what youve done from episode 1 leading up to now! well deserved amazing HOME! its crazy to think that building is your HOME! keep em coming man! Love it!
Me and wife bought a house and renovated it over the last couple of months. Probably increased the value by at least 40%. Thank you for the inspiration! 😊
thats awesome, congrats!
Thanks for getting us all through the pandemic with an amazing video each month!
As an assistant manager of an Ace Hardware, your use of Ben Moore Regal Chantilly Lace was wonderful to see! Cant wait to see what's next. Have been watching since the beginning.
Thanks!
As someone new to start a new you tube channel and make videos about my life and things that I succeed in. I was just wondering what type of money do you get paid for your videos and can you do really well at this career wise once you’ve edited them and posted them, also do you get paid automatically or do you have to apply for payment, any information you could pass on would be appreciated and also keep up with your videos as I really like them and that’s the reason I asked you for advise thank you Paul
i drive by nearly every day on my way to work. never knew about this channel. I will watch now,
I really enjoy watching crazy ideas come to life.