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All Forum Posts by: Michael Fitzgibbon

Michael Fitzgibbon has started 2 posts and replied 8 times.

Post: Appliances on BRRRR property?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

Hello Bigger Pockets Friends! Quick question….Finishing up on the rehab of my first BRRRR property. Should the appliances be stainless steel? Or are black or white appliances acceptable?

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

@Bruce Woodruff thanks for the information.  We got a builders permit with their knowledge we do not have a licensed general contractor.  Our electrician, plumber, and HVAC contractors are licensed and pulling their own work permits.

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

@Evan Polaski 

Thank you for the information, Evan! Because it will be a rental rather than flip we aren't going high end on appliances, cabinets, or fixture. We did replace approximately half of the floor joists. It requires a complete rewire with new panel. Replacing sewer line and replumbing everything. New HVAC and ducting. Replaced approximately a third of the subfloors. Reflooring with mid-range laminate throughout. We took out all interior studs and re-framed for 2 bed / 2 bath. Therefore, we will also be drywalling and painting the entire interior.

Exterior walls are all brick and in good shape. Roof and foundation also in good shape. Replaced soffits. Otherwise, no exterior work required.

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

@Zachary H. yes, I am in the process of cutting ties now that we are done with the framing.  The plumber, electrician, and HVAC hires are all licensed. I am reaching out to several licensed contractors to look into taking over and finishing the project.

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

Thank you for the information, Evan!  Because it will be a rental rather than flip we aren't going high end on appliances, cabinets, or fixture. We did replace approximately half of the floor joists. It requires a complete rewire with new panel.  Replacing sewer line and replumbing everything. New HVAC and ducting. Replaced approximately a third of the subfloors. Reflooring with mid-range laminate throughout. We took out all interior studs and re-framed for 2 bed / 2 bath.  Therefore, we will also be drywalling and painting the entire interior.

Exterior walls are all brick and in good shape. Roof and foundation also in good shape.  Replaced soffits.  Otherwise, no exterior work required.

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11
Quote from @Bruce Woodruff:
Quote from @Michael Fitzgibbon:

@Joseph Holliway I have a contractor at $50/hour and I am also helping 4-5 hours a day to learn more and put some sweat equity in.


 Licensed Contractor for $50 hr?


 No, he isn't licensed.  He has built a number of houses from the ground up and does a lot of renovations in the St. Louis area but has never taken the time to get licensed.

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

@Joseph Holliway I have a contractor at $50/hour and I am also helping 4-5 hours a day to learn more and put some sweat equity in.

Post: How much should I budget for total gut rehab?

Michael FitzgibbonPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 8
  • Votes 11

Is $85k too much or too little to budget for a complete gut rehab for a $969 square foot, 1 story, signal family in St. Louis area? Roof, foundation, and all brick are good structure good. However, pretty much everything else needs renovation or completely replaced. Removed all interior studs and reframing out two bedroom/two bath. Needs new electric, plumbing, HVAC, and windows.