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Updated over 11 years ago, 04/23/2013
Light rehab for rental - cost?
First of all I want to say that I love BP! It's great having a place that I can come to and throw out questions like the one below. Thanks to Joshua Dorkin and everyone who comes to contribute.
I have an opportunity to put in a short sale offer on a property that would cash fow nicely, but it needs some light rehab and I'm new to this so I don't have much of a gauge on costs. I plan to have more than one person come and give me a quote and might be able to some of it myself, but beyond money my biggest constraint is time.
Here's what I saw as the necessaries when I walked through the house:
3br/2ba/1cg - 1,496 sq ft (3Br is a converted sunroom - lots of windows and a closet)
-eat-in kitchen needs baseboard
-refrigerator
-dishwasher
-bedroom (converted sunroom) has ugly vinyl floor – replace with carpet? other?
-other 2 Bedrooms – back of closets plywood – apply glueboard or something
-paint interior
-outdoor privacy fencing to block off big green electrical box in back corner of yard
-backyard - lumpy, don't know what to do about that, grass spotty – don’t really want the cost of resodding
What kind of budget would you put together for this rental ready rehab? Am I looking at $3K, $5K, $10K?
Thanks!