Basement Dig-Out Cost vs. ROI

[Dennis Drury]

Hello All,

I am a new investor out of Philadelphia, looking to do a combination of flipping and landlording.

As many of you probably know, Philadelphia consists of primarily row houses. Many of these houses are over 100 years old and have extremely low ceilings/under six feet of space between the floor and joists in the basement.

After checking out several of the competition's finished products, it seems like more and more people are digging out and finishing the basements in these row homes. It also seems like almost a necessity to get top dollar.

Does anyone on here have much experience in digging out and finishing basements? Does it seem like a worthwhile investment? Would it be dumb for my friend and I to rent a jackhammer and try to do it ourselves? (We're both bright, but lack much masonry experience and experience with what lies beneath houses.)

Any guidance is much appreciated. Thank you!

Dennis

[Steve Babiak]

Some reading on finished basements in Pennsylvania:

http://www.suburbanrealtorsalliance.com/news/issues.aspx

http://www.ehow.com/list_7535303_pennsylvania-requirements-basement-egress.html

http://www.newgarden.org/Permits/basement.pdf