70 Year Old Rental Property Renovation Dairy (Pictures)

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70 Year Old Rental Property Renovation Dairy (Pictures)

Robbie Wyness
Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes

I've recently purchased a 1950 three bedroom, one bathroom 972 sq ft single family home. We paid $67,500 plus $1,600 in closing costs for the place. Experience from our first rental, rent will range from $1,100 to $1,200 plus utilities. Our renovation budget is $40,000. 

To evaluate the rental property I've used the excel spreadsheet found here in the MMM forums: https://forum.mrmoneymustache.com/real-estate-and-...

Here is some pictures of the properties exterior: 

Front Door: 

Rear Door:

Side View North

Side View South:

We're modelling the exterior renovations off of this picture. Ordered similar coloured siding and stained wood shakes to install, instead of extending the roof and adding timbers on the front deck.  

I'll post pictures of the interior and a breakdown of the $40,000 renovation budget soon. 

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Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
8y

@Robbie Wyness

Robbie, I wouldn't go with the drum sander on that floor. One of the dirty little secrets of this business is that a really good 4x24 belt sander, a random orbit sander, and an oscillating tool with a sanding pad offer are slower tools to work with, but they offer a lot more control over how much you take an original oak strip floor down on refinishing jobs. We use the 11 amp Makita 9403 for our belt sander. It was pricey, but well worth it. You're going to be pleasantly surprised at how easy this is going to be as long as you don't try to stain the floor after you sand it. Staining a refinished oak floor a consistent shade ain't that that easy.

But you're not looking to reinvent the wheel on that floor, get a whole new look. That hardwood is more than enough value right there for a property like this. All you want is to repair any sections you need to (you'll probably find some after you sand), sand it down just enough to remove obvious signs of wear, putty up and color the gaps, and seal in place with a thinned sealer coat of oil-based polyurethane and three more coats. That's your maximum value for money.

This is the perfect sort of place to do this kind of small-scale rehab with. Glad you're doing this. I am so looking forward to the kitchen and bathroom work. And the windows are most definitely going to be fun. Let's see how much we can beat your budget by.

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  • Andrew Kerr
    Rental Property Investor · Everywhere, USA · Member since 2012 · 689 posts · 525 votes
    8y

    Welcome @Robbie Wyness - Keep us up to date on the project! Good luck!

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    Thanks @Andrew Kerr - Here are the (before) interior pictures of the rental property

    The back door is closest to the driveway. Walking in from the back door you can go upstairs into the kitchen or downstairs into the unfinished basement.

    View leaving the kitchen and walking out the back door.

    We're planning on removing the wall behind the stove to open up the kitchen, living room, and brick chimney. Fingers crossed the brick chimney behind the drywall to the right of the stove is in decent condition. 

    The view of the living after walking out of the kitchen. Front entry of the house is through the door on the right. 

    Main bathroom. (Only bathroom in the house)

    Bedroom #1

    Bedroom #2

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    Bedroom #3

    View of the exterior with the new windows installed. Removing the asphalt siding has been finished up and wrapping up installing the house wrap. 

    0Reply
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    8y

    Looks like a solid structure 

    0Reply
  • Will Coleman
    Lender · Knoxville, TN · Member since 2015 · 55 posts · 48 votes
    8y

    Looks like an awesome project! Thanks for sharing and good luck, I would love to see the final project. 

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Matthew Paul Thanks, from what we've seen so far that appears to be the case. 

    @Will Coleman That's the plan. It'll be nice to have the thread to look back and reflect on the lessons learned after the project is completed.

    Here are a couple pictures from when we were removing the asphalt siding. 

    2Reply
  • Will Coleman
    Lender · Knoxville, TN · Member since 2015 · 55 posts · 48 votes
    8y

    Wow looks like a major project! You've inspired me, I'm gonna post my renovations on here and I'll tag you in it to see the flip I did a few months ago. 

    1Reply
  • Grant Rothenburger
    Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
    8y

    @Robbie Wyness Welcome! Looks like a good project, good luck.

    1Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Will Coleman Nice! I'm looking forward to checking out the work you did and anything you'd do differently next time. 

    Our first rental we completely redid the inside (kitchen, flooring, bathroom, added a natural gas fireplace, paint, etc...) and choose not to replace the original 1960 windows. This past year there has been no issues renting the property, but the old windows definitely seem out of place compared to the rest of the house. 

    @Grant Rothenburger Thanks! 

    1Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    Here is a breakdown of the $40,000 renovation budget. 

    Has anyone installed LifeProof vinyl plank flooring from Home Depot? The rep at Home Depot said you don't need any particle board or U lay installed underneath the vinyl plank flooring. I've always installed U lay subfloor underneath vinyl plank flooring.

    I'd like to hear your guys thoughts.

    https://www.homedepot.ca/en/home/p.multi-width-x-4...

    0Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    8y

    5 cents under budget already!! 👍🏻👍🏻

    1Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Account Closed Haha the budget is off to a great start.  

    Updated Budget March 31, 2018

    New doors, drip cap, & house wrap has been installed. Window in bathroom shower has also been removed. (Before & current side view north pictures.) 

    Front View:

    Rear View:

    Side View North:

    Side view south:

    0Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    8y

    @Robbie Wyness we have used the flooring you referred to on a number of projects. We did not use any extra sub flooring but the existing flooring base was adequate. 

    We have been impressed with the product & I was particularly interested in it's integrity during the summer heat & heavy frost winters in our winterized Lakehouse.  The expansion/contraction of the pieces was not an issue & the edge/grip integrity due to the weather extremes proved to be excellent & did not buckle to contract. 

    We did have an open window during a heavy rain storm & the water, although pooled on the flooring for several hours, has yet to cause any buckling etc.

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Pat L. Thanks for the advice. After your story, if the existing floor underneath the carpet is in decent shape I'll be trying it out. 

    Have you had any issues with scratching? With the previous two vinyl plank installations, I haven't been too impressed with its scratch resistance. 

    I'll be taking a break from the forum/renos for the rest of the week. Our first child was born on Monday. Talk to everyone next week!

    0Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    8y

    Congrats on the new addition. I haven't seen any scratching & we did move a stove & fridge across the flooring. The fridge was on wheels but the stove was on a piece of cardboard & slid nicely. The flooring was down when we did the kitchen cabinets so it took some load & one of my guys was cutting boards on the flooring but again no scratches.

    Good luck

    0Reply
  • Kenneth LaVoie
    Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
    8y

    Great job. I love seeing budgets so I can compare to some of our figures. I take it you did it yourself, alot of it, and the 12K was extra labor for friend? Can you estimate how much labor YOU put in? 

    1Reply
  • Jose Matuk
    Investor · Dallas, TX · Member since 2016 · 84 posts · 33 votes
    8y
    Robbie Wyness great thread, thanks for sharing, I’ll be paying close attention since I have an older (1907) property on the radar. And congratulations on your first child, that’s truly a blessing and so much fun!
    1Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Pat L. Thanks! Life definitely changed pretty quickly. Glad to hear about the scratch resistance. We recently removed the wall between the kitchen and living room and discovered hardwood underneath the carpet and linoleum. The plan going forward is to try and refinish the hardwood throughout the house.  

    @Kenneth LaVoie Thanks, one thing to note if you are comparing budgets mine is in Canadian currency. The $12,000 budget is to pay a friend to help teach me carpentry skills and complete the work. For the labor estimate are you looking for hours put in?

    @Jose Matuk No problem, glad you're enjoying it. Have you closed on your 1907 property? Thank you it's been great having a little one around. 

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    We've recently removed the wall between the kitchen and living room to help open up the space. The pictures didn't do the work justice, so in an attempt to better capture the renovation process we've decided to give video a whirl. 

    Video: Removing Wall Between Kitchen & Living Room - 70 Year Old Rental Property Renovation #1

    Does anyone know how to embed a Youtube video directly into the post to view it on Bigger Pockets?

    Any suggestions to improve the future videos I'd love to hear them. 

    0Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    8y

    That wall removal was a classic. Ours are always a heavy layer of lathe & plaster, then a layer of plywood on 1x3 nailing strips held up with 3inch nails, then another layer of old '70'd drywall. Then on top of that we usually discover a heat vent covered in asbestos & full of old oil fce residue/dust, then we discover a run of random cast iron vent plumbing.

    1Reply
  • Kenneth LaVoie
    Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
    8y

    @Robbie Wyness - thanks for the currency reminder! For labor, yes, I'm always curious about labor hours. I don't really know how to do much of this stuff (well enough to satisfy me, anyway!)  so I'm always "sneaking around" looking for data to see how fast or slow my man is! He's freaking awesome but I still would like to know how he compares. 

    0Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    8y

    @Kenneth LaVoie

    You're guy!!!

    I had a guy that was supposed to be helping me. He called in sick several times but finally did about 7 hours work then hands me a receipt for his new work gloves. Gone!!!!

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Pat L. Hearing your story I'm feeling pretty fortunate the only thing I need to relocate is the living room light switch or figure out a way to mount it to the brick chimney. He might have needed those new gloves after 7 hours if he ran into this nightmare you described! (lathe & plaster, then a layer of plywood on 1x3 nailing strips held up with 3inch nails, then another layer of old '70'd drywall). 

    @Kenneth LaVoie I haven't been keeping track of my hours (Sweat Equity). If I had to estimate my friend helping me has put in roughly 150 hours and I'd be around 75 to 100 hours. I'm making an effort to be there as much as possible to learn how to do all this. Recently having our first child, I've had more important priorities. 

    This week we were busy ripping out the carpet and linoleum throughout the house to determine the condition of the hardwood and if we'd be able to refinish it. Overall we've been very pleased and changed our plans from installing vinyl plank flooring to refinishing the existing hardwood floors.

    Before:


    After:


    You can find the video of the entire carpet and linoleum removal here: https://www.youtube.com/watch?v=Of23ifzfjSM

    I've updated the budget for the costs incurred so far. During there sale I recently ordered the last of the big purchases, the IKEA kitchen package. Once finalized it should be very close to the budgeted amount. The one area I'm anticipating possibly being a little light on is labour costs but we'll see how it goes.



    Talk to you next week.

    0Reply
  • Devinder Brar
    Sacramento, CA · Member since 2018 · 11 posts · 4 votes
    8y

    Hi @Robbie Wyness, looks an interesting project. I'll be following it. 

    0Reply
  • Robbie Wyness
    OP
    Grande Prairie, Alberta · Member since 2015 · 17 posts · 7 votes
    8y

    @Devinder Brar Thanks!

    0Reply
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