First Duplex Purchase and Renovation

[Account Closed]

Hello!

I have just purchased my first Duplex in the Milwaukee area and I will be living in the upper unit while renting out the already occupied bottom unit. The upper unit needs some renovating before I move in which include the following:

Flooring (carpet, vinyl, linoleum?)

Paint

Toilet

Light fixtures (ceiling fan?)

Kitchen cabinets and countertops

A few door replacements

A 2nd level patio railing replacement

I am planning to live in the unit for about a year, and then rent it out, so I would like to get it “tenant ready” before I move in.

I am wondering if anyone has any input or advice about which of these renovations I can do myself, and which are better left to the professionals (prices I should expect to pay in materials and labor to have these items done).

I am also open to advice about how to find good contractors to do some of this work.

Thank you!

[Doolan Wesley]

Hey Kyle, where did you purchase your duplex. I too purchased my first duplex in Milwaukee back in September. I was looking to start building a real estate portfolio because I had too much exposure to the financial markets. 

The purchase has gone great. My total cash flow from the property will be strong once I move out one day, surpassing the 1% rule. As for renovations, I lucked out. I found a property that needed little renovations. I just added some curb appeal, stained and finished the outdoor deck, etc. We're both in pretty similar scenarios, I want to hear what others say in this forum. I'm totally open to learning and will be looking for my second property here shortly. With 2020 approaching and the POTUS uncertainty, expect some volatility both from the financial and real estate markets.

On the side note, I run a little investment newsletter service with a friend called InvestMKE and am part of the Milwaukee Investment Group. I'd love to meet other Milwaukee investors here! Cheers!