3rd and 4th Buy and Hold Rehabs in Kennesaw, GA

[Julie Kern]

We just finished up our 3rd and 4th B&H rehab in July and September. 

Info and pics below:

#3 - All-in for $142K, ARV of $160 (based on appraisal for refi). Had a tenant in place within 3 weeks of listing at $1,350/mo. Rehab ran high due to contractor woes out the wazoo. Without the issues we had and with our current (new) contractor - who we found thanks to @Kyle Wells - we would have come in several thousand lower, I believe.

#4 - All-in for $147K, ARV of $155-160K (estimate based on comps). Have a tenant moving in at the end of October at $1,295/mo. Costs were higher on this one because we hit a bunch of CapEx items - new roof, new HVAC, new deck, vinyl plank flooring throughout, new appliances - plus we had some unexpected big-ticket items - had to rebuild a chimney, for one and also build a foundation for an addition that hadn't been done properly. We also decided to manage this one ourselves and will most likely transition our others to self-management when the current tenants move out.

Not the numbers I would have hoped for, and we definitely need to improve our rehab estimates and/lower costs, but I'm still pretty happy with the outcomes.  Both properties are in great areas with good schools (Kennesaw Mountain HS and Allatoona HS, for those of you who are local) and should be easy to keep rented.  

Before pics and links to our listings with after pics below.  And huge props to our buddy @Josef Young who did the photography for the listings.  He did a great job and is also a really nice guy (and a lot of fun too!).  And one day I'll get better at remembering to take more before photos at the beginning of a rehab!

#3 Before (or more like "in-progress") Photos:

Link to listing with after pics:

http://www.zillow.com/homedetails/9045-Sumit-Wood-...

#4:

Link to listing with after pics:

http://www.zillow.com/homedetails/2986-Owens-Meado...

[Steve Vaughan]

Well done, Julie! Congrats and keep up the good work!