Rehab bathroom in a property that rents for $500

[Fisayo Ijamakinwa]

Hi all, I am so new to this and wrapping up on closing on my first purchase. It’s been an exciting and scary journey but I believe progress is been made. I want to put things in place to have contractors start work as soon as we close. This units rents in the region of $500. The whole bathroom has to be redone. Contractors comments are as follows: Gut bathroom: New tub, tub surround, new vanity, replace dry walls where needed,install new vinyl floor, light fixture and mirror - for $4,100 ( both labor and material). My question to you sage investors is how would you review this and what kind of material will you recommend to purchase for this part of the remodel?

[Thomas S.]

Buy all the materials/fixtures off of CL or recycle store. With rents at $500 you want to spend the bare minimum. Most of your costs will be labour so consider doing some work yourself.

It will tale a long time to recoupe your investment.