All Forum Posts by: Ashton Astillero

welcome!

40k for a complete gut job sounds pretty cheap. Roof and HVAC alone would eat up more than 25% of that. Unless the house is 700 sq ft. 

80k seems really low for a "multi-family." Gut rehab for an SFR in northwest Indiana would be around that new plumbing, electric, hvac and roof. Mentioning what neighborhood it's in in Chicago will likely help.

Welcome to BP! 

70k sounds pretty steep. Are the units rent ready? Is the addition structurally sound?  You're gonna want to walk through the house preferably with a contractor/home inspector to see how much work it requires to be rent ready. 

This is an interesting scenario. I'd like to know how to remedy it when you do figure it out. Good luck!

I'm a contractor based in Hammond and would love to connect. 

Putting the cheapest HomeDepot range will require a 40amp 220v circuit. That would cost me $350(electric range) + maybe $400 for the electrical assuming he doesn't have to tear off walls. If the electrician has to tear off walls, then cost to wire it properly goes up. 

I'd recommend to just spend the money and meter all the units individually and change the lease as needed; higher cap-ex for now, but it'll be lesser headaches down the road. 

Basement bedrooms require 2 egress points; 1 being the backdoor is acceptable and the second is the egress window which is unusual in basements. A closet is also required as for any bedrooms. Also 7' finish height or basically a full height door. This is based on International Building Code 2003 which is still the standard in my area (northwest Indiana), and this standard should allow you to indicate on an MLS listing that it is a bedroom in the basement and not an 'office'. My locale allows 6'8" head clearance, but your locale may vary on this.

I'd vote for gas. It's straightforward for HVAC techs to do since they can handle the little electrical and plumbing involved. If you opt for electric, the HVAC techs might not think like an electrician wherein the electrician will probably have to, 1) establish a new circuit with breakers rated for the furnace; 2), run higher gauge wires and/or piping to handle more juice that the electric furnace will require. If the existing panel doesn't have enough amperage, you might need to upgrade the service to the house. And if you do all the aforementioned things, though uncommon, power can still go out for a myriad of reasons. I don't remember my gas being ever turned off ever, but I know I've lost power a handful of times.