All Forum Posts by: Account Closed

@Justin R.

No, we had not paid him.

@Bryan Rodas

Go to your local bank and talk to a commercial lender for an hour and take notes, much easier to absorb in person and you will be able to ask any questions you like to get you started

@Mike Benzschawel

Sure.

We paid $228,000 on a 20% down commercial loan with a 30 year term.

The total renovations for the property came to just a tad over $50k. We did most of the laboring ourselves and hardly hired anything out.

It helped us a lot especially with the log siding we used, we got multiple quotes of around $25,000 just for removing the old siding, installing and staining the new siding. The total cost for the siding and materials was just over $7k and we installed it ourselves.

The roof cost about $3000, again we installed ourselves.

We did hire labor for the three top windows at the front as they had to be framed in etc as there were none there before, just a small one in the center but that was only $500 in labor as we knew the contractor. The windows themselves were $2500

The bathrooms were just over $3,000 in materials each, again no labor charge. Both bathrooms were torn down to the studs and rebuilt.

The kitchen was $8,000 ish with appliances, cabinets, countertops and installation. We did make a mistake with the first countertop installer and he destroyed the granite so we had to order a second countertop so that was about a $2k mistake on top of that.

We finished the whole basement and added another bedroom which was about $10k all up including adding a dry mini bar.

The property had two garages, we sided one as the other was fine, just with vinyl on it which was about $3000, no labor on this either, it only took two days.

All the barn wood you see was from the original leinenkugels factory which is quite cool, we still have a ton left. That added a lot of character to the build.

The rest of the budget was out towards bedrooms, the loft, stone feature walls, log railings, we spend $3k furnishing the property for staging and got $5k for it on top of our sale price. Landscaping, travel and general construction expenses.

@Luke Rorech

Thank you, we are building capital for another couple of multi family properties and another flip

@Marc Rice

We did most of the labor ourselves, hardly hired anything out.

@Mike Benzschawel

Sent you a message

@Stacey Tiamfook

Yes I will upload the before and after pictures tonight!

@John S. Thank you!

@Michael Deering

Thank you!

@Joe Scaparra

We are also considering flipping another vacation home at the same time, we very much enjoy it