Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

324
Posts
384
Votes
Anna Buffkin
  • Investor
  • Pawleys Island, SC
384
Votes |
324
Posts

Newest Rental Rehab with Pics

Anna Buffkin
  • Investor
  • Pawleys Island, SC
Posted

I closed on rental #8 on March 5th and renovation is underway.  To start, the numbers:

3 bedroom, 1.5 bath 1700 sq foot brick SFH with bonus room.

Purchase Price: $59k

Appraisal: $105k as is with estimated $124k after rehab.

Renovation budget: $20k.

Renovations include: new flooring in bonus room, kitchen and baths. total renovation of bathrooms, new cabinets, crown molding (to cover bad drywall job by previous owner), buff hard woods, paint exterior, paint interior, remove awning, remove side door and seal up, fix low spot in kitchen floor, and remove the non-permitted fire place.

Estimated Rent: Initially I budgeted $950 per month based on another rental I own in a similar location, but  two houses on the same block were recently rented for $1200+. So I may have to reevaluate the rent once it's time to advertise. The house should be ready to rent by early April with a goal of having it rented by May 1.

I plan to refinance the property in May once the project is complete and the house is rented out.  

Isn't see a beauty!

Most Popular Reply

User Stats

9,999
Posts
18,561
Votes
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
18,561
Votes |
9,999
Posts
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied

@Anna Buffkin I like the place. Honestly the photos are not that bad. I guess I can see past it pretty easily. You can't go wrong with a 3/2 SHF. Nice looking from the outside. Good numbers. Congratulations!

Can you share details on how you found the deal?

  • Joe Splitrock
  • Loading replies...