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Updated over 4 years ago on . Most recent reply

User Stats

99
Posts
63
Votes
Nathan Faucett
  • Rental Property Investor
  • Greensboro, NC
63
Votes |
99
Posts

Contractor Recommendations in Greensboro, NC (Triad Area)

Nathan Faucett
  • Rental Property Investor
  • Greensboro, NC
Posted

Hello all - I am about to start doing some work in my basement to convert it into an AirBnB. I am looking for contractor recommendations for 

  • Electricity
  • Plumbing
  • Carpentry
  • Drop Ceilings
  • And anyone else you might want to recommend

I am located in Greensboro, NC (Triad Area). 

Please send me your best guys/gals!

  • Nathan Faucett
  • Most Popular Reply

    User Stats

    99
    Posts
    63
    Votes
    Nathan Faucett
    • Rental Property Investor
    • Greensboro, NC
    63
    Votes |
    99
    Posts
    Nathan Faucett
    • Rental Property Investor
    • Greensboro, NC
    Replied

    So our basement is currently "finished".

    It has HVAC, plumbing, ceilings, walls, flooring, etc.

    However, it needs an overhaul. The prior residents really didn't take care of the space like they should have. Some of the improvements include:

    • Replacing the existing carpet with LVP (They had animals and there is a distinct odor)
    • Replacing the acoustic drop ceilings (They painted the existing drop ceiling black)
    • Removing a sliding glass door and replacing it with a french door for rental entrance
    • Replacing the existing fluorescent lighting with can lighting
    • Replacing painted wood panel with drywall, finishing, and painting said drywall
    • Moving walls around to block off some areas and to make some areas bigger
    • Adding a kitchen, which include cabinets, sink, range, and maybe a dishwasher
    • Create a path leading from my driveway around the backyard to the basement entrance.

    My space is about 1200 SF and I mentally prepared to spend about 15K to redo the basement to an acceptable quality level. This estimate may be a bit high, but this is what I have set aside to do the work. 

    The ultimate goal is to use this space as a rental until my family grows to a point that we need to reclaim it. Coworkers in adjacent neighborhoods have similar spaces and have been able post them on AirBnB and have claimed somewhere between $10K-12K of income per year. This will seriously subsidize our mortgage payment and further add to our buying power when looking for BRRRR opportunities in our area, which our natural next step.

  • Nathan Faucett
  • Loading replies...