All Forum Posts by: Brian Beck

Hi Antonio,

This sounds interesting, this is fair market rent in the open market, not related to the HUD/Voucher FairMarketRents, correct?

Thanks.

@John Collins

None of them mentioned issues with regards to getting the material, that being said, I'm sure they probably have a distributor/supply house who handles all of this as opposed them ordering direct. Sorry, wish I had more insight into that side of things for ya

@John Collins

I cant recommend from first hand experience but I know others who I've worked with have recommended DyeBrick. It's a tinting/staining product made specific for bricks.

With regards to painting, all the big companies have a product designed for brick. When painting brick you really want to make certain you a) prep and clean the surface so the paint adheres properly and b) make certain you use a breathable paint that wont trap the moisture inside the brick/building envelope behind the paint. If you go to a Sherwin William's any of their staff should be able to help you with this, they may offer a staining product too at this point.

Hope that helps a little, if you do stain let me know how it turns out, I'd love to see before/after. Best of luck!

@Ika Sargeant

Congrats on the purchase.

Where in Stafford is this? How much did the rehab cost, how much is your mortgage and how much is it renting for?

@Heather Skowronsky

Hi Heather,

Similar to Calvin, I too Was wondering how section 8 worked in the local area with regards to fair market rent, stemming mainly from Joe's Strategy in DC. The HUD fair market rents do you seem higher than what I'm seeing on the market. Any insight in the section 8 demand and how that process works at the local level would be greatly appreciated.

@Ani Kap No problem at all.

Just keep in mind the location and local prices will vary. Going directly to a smaller flooring subcontractor will usually result in lower cost that a larger general contractor style set up, And always do year research on whoever it is you hire to verify their reputation and that they will be in business down the road should a warranty issue arise.

@Michael King is accurate, if you are comfortable and have the time (especially with the LVP) you could save a ton by doing it yourself.  I tell our homeowners this all the time, floating floors go down quickly once you get past the first two or three courses and get your spacing down, the bulk of the cost is in the installation.

With regards to your quote above, as a Class A General Contractor in Washington DC, we'd charge the below:

Living Room/Hallway:  ~$2,550,  if you go directly thru our flooring subcontractor you are probably closer to $1925.

Hardwood Refinish: $3,050 (GC), $2,300 (Flooring Vendor)

Bathroom (Assumes Toilet is Pulled): $350 (GC), $265 (Flooring Vendor)

Kitchen: $1550 (GC), $1150 (Flooring Vendor)

Basement:  $3120 (GC), $2,350 (Flooring Vendor)

Total:  $10,620 as a general contractor, If you were to go direct to our flooring vendor it'd be closer to $8,000

Based on what I know our flooring contractors pay for the work, the sand/refinish at $6/Ft may have a little wiggle room depending on the company's structure and overhead.  The prices on the LVP seem a little high.   Definitely paying General Contractor pricing (not custom home pricing, but GC pricing none the less based on DC pricing.

I'd get a few other bids from local vendors to do your due diligence.  I wouldn't recommend necessarily going with the cheapest bid purely on price, as a contractor I've made that mistake before with subcontractors.   Their is some truth to the 'You get what you pay for.'   I'd recommend getting a few more bids and check their references and confirm their licensing is in order also.

Hope that helps, if you do have questions, please don't hesitate to ask!

Hi Calvin,

I think you closing costs will probably be a little higher than the $1,900 estimated.   I've worked on a bunch of houses in/around here for my W2 job, if you do need any help running numbers on your rehab, feel free to reach out.  I live in Fredericksburg but grew up in Woodbridge and am still in the area regularly.

Where is the home located (City/State)? Is the subflooring seem to be in good shape (no soft spots)?

I will be in the office tomorrow and would be happy to run those costs in our system and let you know roughly what the going rates here in DC/NoVa area.   

@Sean Sullivan

From what I've gathered from the people I've spoken to who invest in the area, if you are going with a single-unit (not a multi-family, boarding style, house hack, etc...) in the Northern Virginia area you are playing the long game, you'll still want to break even/cash flow off the bat but you are really investing for the appreciation in both rents and home values. As the rents go up over time your cash flow will grow and the asset value will increase alongside. I know investing on appreciation isn't necessarily popular but I'd say it makes sense in this market. Just my 2 cents.