Rental Rehab in Knightdale

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Hey Everybody,

I had posted before we had closed on this deal but now that its done ill do another post for anyone interested. We ended up getting a 900 sqft 2BD, 1BA in Knightdale for 110k. It was our first for sale by owner but also our first major renovation. It did have a 2 year old roof and a 3 year old havoc system so that put us to ease as far as major expenses but we are pretty happy with how things turned out, myself, my wife, and my mother in law did everything except the plumbing which we subbed out to a plumber we know who has been doing it for almost 20 years and does great work on the side if anyone needs one. All in all it was: Tear down kitchen and bathroom to framing than renovate, remove old linoleum and carpet, sand hardwoods and reseal them, paint, all the plumbing in the house was upgraded to pex, dishwasher installed, butcher block counter tops, sink, insulation behind every wall we took down, and lots of little odds and ends. I feel pretty confident with how the work turned out but would love to learn more about residential construction if anyone on here is a G.C. or knows one that needs a helper. I am having a hard time finding comps for rent in Knightdale so feel free to post what you think id be able to get for it, and also what the best ways to advertise in this wake county market are. 

Purchase price: 110k

Pre Reno Appraisal: 130k

Post Reno Appraisal: Would love some input here as we are new to this market

Renovation budget (including appliances): under 8k

Before Pictures:

After:

And sorry if the pictures are sideways I can't figure that out,

Thanks,

Bryan

[Joseph Gisler]

@Bryan Potter the place looks awesome!! Did I see that correct, renovations only cost you $8,000? That’s awesome!

While I don’t know comparable comps for Knightdale, one place you could post it for rent is the Raleigh Places for Rent/Sale FB group. I have attached the link, it’s ran by @Tiffany Alexy and always seems to have people commenting/asking to rent the places! Might be a good place to start.

https://www.facebook.com/groups/1201382953330767/?ref=share