1918 Farmhouse Rehab

[Patrick Steil]

Hello BP!  This is my first post - I am looking for my first smokin deal :)

I just looked at a potential investment.  It is a 3/1, 1200sq ft.  1918 Farm house.  It has wood floors that look in great shape, wood ceilings and wood walls.  

Some of the walls, floors, ceilings had been painted.  

Anyone have experience with how costly it is to bring wood back to its natural glory?

What are the electrical and water/plumbing issues going to be on a properly like this?

Thanks for any help you can provide for a noob!  

Patrick in Texas

[Mike Reynolds]

@Patrick Steil Welcome to BP and best of luck on your investments. 

It depends on what you want to do with that wood. In all likelihood it was painted when it was put up. If you want to stain it you are looking at a lot of work. Think of it like this, each coat requires a stripper (usually). How many coats of paint can you get in 100 years on a ceiling. Then couple that with it being on the ceiling so its all overhead work. The walls wont be as bad. I dont think the floor was painted when it was put up though. This would be easier because you can use mechanical means to strip it.  

The plumbing is likely cast iron drains and galvanized pipe. It should have been replaced by now but that depends on when they actually installed indoor plumbing. The wiring may be knob and tube. If it is is would be a total gut. Bad fire hazard. If you go in the attic and see the wires going through the joists with a ceramic boots and/or knobs on top you have knob and tube. You would be surprised how many houses still have this in them. 

So assuming you replace the plumbing figure around 10k. 12k for electrical. Paint would be a toss up according to what you want to do. Maybe 8-10k for a full strip and stain. I would do paint if it were mine.