Rehab Advice for an Non-Rehab-Savvy LTR Investor

[Alexandra Jimenez]

I recently bought a multi-family in Louisville, KY and was expecting to keep the 3 leased units as LTRs and turn the 1 empty unit turn into an MTR. Unexpectedly, one of the LTR tenants moved out and left me with a MASSIVE rehab project I was not expecting to tackle immediately. The tenant had lived there for 30 years. I have no idea about rehabbing a property and I do not have interest in doing so. I normally buy turn key properties to avoid that.

Can someone please give me insight on how I should piece together the rehab? I'm confused about the order. Who should I hire first? The demo of the kitchen needs to happen first but should the floors get refinished afterwards, then the kitchen cabinets installed, and then the paint? I have no idea where to start.


- The kitchen cabinets need to be removed and replaced. I have a quote for $5k

- The hard wood is in terrible shape but I'm recommended that they are refinished in order to preserve the building's historical integrity and because new flooring would be more expensive. I have a quote for $4k

- I'd like to keep the bathroom as-is, but if I renovate everything else, then the bathroom will look bad. I was quoted $5k for the shower+vanity+toilet 

- Plaster and paint for entire unit is $6k

Would you hire one contractor to do it all or do I hire different companies for each item? The quotes are from different companies.

Note: I admittedly went in over my head on this one and the entire purchase was not a good deal. Several factors involved but I mostly bought for appreciation long term. I wish I could put it on the market, but I don't think it would sell. The entire exterior needs to be re-done - paint, siding, box gutters, etc so that alone is going to cost me like $100k. it's a very expensive lesson learned.

[James Wilcox]

Quote from @Alexandra Jimenez:

I recently bought a multi-family in Louisville, KY and was expecting to keep the 3 leased units as LTRs and turn the 1 empty unit turn into an MTR. Unexpectedly, one of the LTR tenants moved out and left me with a MASSIVE rehab project I was not expecting to tackle immediately. The tenant had lived there for 30 years. I have no idea about rehabbing a property and I do not have interest in doing so. I normally buy turn key properties to avoid that.

Can someone please give me insight on how I should piece together the rehab? I'm confused about the order. Who should I hire first? The demo of the kitchen needs to happen first but should the floors get refinished afterwards, then the kitchen cabinets installed, and then the paint? I have no idea where to start.


- The kitchen cabinets need to be removed and replaced. I have a quote for $5k

- The hard wood is in terrible shape but I'm recommended that they are refinished in order to preserve the building's historical integrity and because new flooring would be more expensive. I have a quote for $4k

- I'd like to keep the bathroom as-is, but if I renovate everything else, then the bathroom will look bad. I was quoted $5k for the shower+vanity+toilet 

- Plaster and paint for entire unit is $6k

Would you hire one contractor to do it all or do I hire different companies for each item? The quotes are from different companies.

Note: I admittedly went in over my head on this one and the entire purchase was not a good deal. Several factors involved but I mostly bought for appreciation long term. I wish I could put it on the market, but I don't think it would sell. The entire exterior needs to be re-done - paint, siding, box gutters, etc so that alone is going to cost me like $100k. it's a very expensive lesson learned.

It appears that engaging a thoroughly reviewed general contractor to manage your project might be a beneficial choice. This will naturally involve expenses, but it could provide peace of mind and facilitate a swift restoration of your unit's functionality. Nonetheless, since you already possess quotations from various subcontractors, the decision remains yours. Generally, flooring tends to be one of the final tasks. It's important not to undervalue what could still be marketable in this economic climate. I'm somewhat skeptical that your exterior costs would reach six figures.