What Can You Do with 10,000 for Rehab?

[Oriana Campbell]

Hello Fellow Members,

If I purchased a property for rental that required 10,000 in rehab, exactly what work can I do? I know it may varied depending on the condition of the house, but 10,000 seems like somewhere between light-avergae and it would be really helpful if someone could paint a bigger picture for me to understand.

[Terry Ingram]

The first house i bought to rent was in Aug this year.  I put $12,000 into it to update and rent out.  

The list of things completed 

• $350 - Dumpster rental
• $0 - did myself laber tore out old kitchen and put in New kitchen
• $3200 - Replaced all kitchen cabinets (find a contractor friend that can get you cabinets at cost.. saves approx 50%)
• $1200 - replaced Refridgerator, stove, microwave, added dishwasher, washing machine, (Nicks Used appliances came with 90 day warranty)
• $3500 - added central Air and had some duct work done. 
• $250 - Paint entire inside of house. 
• $1200 - new carpet in 4 rooms
• $150 - Updated Kitchen and bathroom lights. 
• $350 - Vinal plank flooring in Kitichen ($0 in Labor did myself) 

Other Misc stuff including replaced all outlets and covers, closet door replacements and ??

$10,000 can go a long way depending on how much you are going to do yourself.  If you hire a contractor you will get less for the 10k