Renovation Cost and Heart Attack

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Hi BP community!

I closed on my first deal in an upcoming neighborhood and historic district. I bought the property and negotiated some repairs in the purchase price. The gutters will need to be completely replaced and roof is on its last leg; this is the biggest expense that’s giving me a heart attack! I tried to prepare and I knew what I was getting into but whew!

Anyways, a part from that I will need to refinish some floors, update cabinets and appliances in kitchen, and remodel a bathroom. I plan on using as for all the other repairs and house hacking in this SFH.

I'm nervous about the ARV and how to finance this roof. What do you recommend roof financing through the roofing company then refinance? HELOC? Any tips on getting the gutters and roof done is much appreciated!

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Do not try and do a roof yourself!  That is an insane suggestion. Sweat equity in painting and hanging cabinets maybe, doing you own roof is WTF. Its backbreaking dangerous work .

I am also in Columbus and have been trying to find a good roofer. I had several quotes from bigger names for a total tear off and redo, and they were really high. One high quote roof company I did also have quote a repair at another property and they screwed it up and lied to me about other problems. They also did some work for a neighbor  and screwed that up too.

For the tearoff and replace job I went with a smaller independant guy and so far so good. I can give you names in a PM if you want. I also have a really good floor refinishing company that blows me away every time i use them. I wouldnt do my own floor refinishing without a lot of practice, I have seen a lot of flippers try their own floors, and they dont sand evenly, and there are obvious uneven spots where they let the sander sit too long.  Then they pour the polyurethane on so thick it looks like a wobbly-surfaced ice rink. It really isnt that much money for what you get, in my opinion.

 good luck! I admit I am curious what neighborhood, I am up in Linden only.. i like it a lot but its not very fancy. :)