Renovate/Remodel a buy & hold

[Ryan G.]

Hi all!

I purchased a brick home foreclosure and have just cleaned it out and gutted the inside of it (it needed it). I have a few questions on my next steps:

1. Is it worth it to frame the inside of the exterior walls to Insulate and put dry wall on easier? Or is it better to just use the exterior brick walls?

2. We are in a desert. Is it with the savings to install a multi zone mini split vs a traditional A/C unit?

3. Any suggestions to “over engineer” to prepare for a renter?

4. It has gas, is it worth it to keep the gas stove or just cap it and make it electric?

Thanks all for your help!

[Zach Westerfield]

my 2 cents

1. when you say brick, do you mean cinderblock walls? if so, is it functional? if it is, only reason to add sheetrock is to increase value (for refi) and attract better tenants. look at comps in the area and see how they are done

2. minisplits can be purchased and installed for $800-900 each. a standard forced air system runs anywhere from $4,000-6000, depending on the size. without seeing the house, its hard to say which is better. 

3. some things i do to "tenant proof" my rentals. Bathroom hardward (TP and towel racks) - mount to a 1x4 plaque that is screwed to studs. you can pretty much hang on it without pulling out the hardware. i use entry level granite countertops - stain resistant, and should last a long time. i put LVP through the entire house, bathrooms and closets included. its water proof and scratch resistant. while the initial cost is more than carpet, you wont have to replace it as often. i use Sherwin-Williams Harmony line of paint, in a semi-gloss sheen. the semi-gloss is easier to wipe off for small marks, and the harmony line has deodorizers built in. for exterior door knobs, i use the smartkey knobs from kwikset. you can rekey a knob in a few minutes - no need to pay rekeying fees anymore. last tip - figure out which appliances your market typically provides. in my market, its not common to provide washers and dryers, so i dont. thats one less thing to have to repair. 

4. i dont see an issue with the gas stove. to convert to electric you will need to have a 220V plug, which could be costly to install if not already there.