BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 3 years ago on . Most recent reply
Any rehabbing wisdom or trade secrets for a rental?
I have a vacancy coming up next month, so will be looking to bring the unit up from it's current C condition into a B in line with the neighborhood. My current SOW is more or less as follows:
New floors (hardwoods are heavily scratched, will be replaced with LVP's)
Paint
New appliances (replacing current with stainless steel)
Cabinets (I have the opportunity to purchase new ones at a discount, so I'm running the numbers on replacing vs painting and swapping hardware)
New tile and vanity in bathroom
I have some flipping experience, but this is my first rehab for a rental property. As such, I'm open to any trade secrets or wisdom that would be useful as I dive into it, whether that's in the materials to use, where to source them, how to manage, etc.
This is a 3 bed, 1 bath unit of about 1,200SF. I have 2 more in the building that have an identical layout that will each be getting the same treatment upon their own vacancies. The building is 140 years old so there's a lot of straight maintenance work that needs to be done as well.
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@Tyler L. I'm not sure I would take the advice on buying a 5 of mis-tint paint. That may save you some money this time around, but it won't when you go back to touch up or repaint and you can't find that color, or it's the wrong sheen, etc.
It just simplifies things when you can call the local Sherwin Williams and tell them you want X gallons of Repose Gray in Satin super paint and you get the exact same thing every time.