All Forum Posts by: Jasper Zimmerman

The flooring probably needed to be replaced but was not as noticeable when purchasing the home due to the tenants living in it at the time. I'm wanting to replace with the LVP to be more tenant friendly my quote for replacing the flooring with carpet came in at $2,300 vs the LVP at $5,400. I do understand that this is a CAPEX and should have budgeted it into the purchase and rehab amount for this purchase. The amount of flooring being replaced is 910 SF. The drywall repair is minor but in each room.

Thank you everyone for your suggestions and feedback. I appreciate the advice and knowledge from the more experienced investors. 

@Steven K I was getting $975 and increasing to $1,100 for the new renters. The $2-$5k was what I was expecting. This first turnover is definitely a doozy.

I purchased the house in April of 2021 with these tenants in place. The paint is roughly 3 years old and the flooring I'm not sure on the age. I agree it could be due for some upgrades and I'm not disagreeing with the need of replacing the flooring and paint. It is more of the price. The cost of the install for 910 sqft of mid level LVP I have been quoted is $5,400 and paint at $3,000.

Bob Okenwa Thank you. I added the scope of work to the original post. The painting is trim, doors, and walls, but not the cabinets. I'm getting another bid on the work and will compare those.

Hello,

I'm a new investor with one unit in Indianapolis, IN. I'm an out of state landlord with a property management company taking care of the house. The tenants recently moved out and the property management company sent a quote from their vendor with the list of repairs totaling $12,000. This is a 3 bed 1 bath house that is 1128 sqft. The repair work consists of drywall repair, painting the whole inside of the house, replacing flooring with LVP in 3/4 of the house, a few other minor repairs.

Is this a normal turnover price tag for a 3 year tenant?

Is my PM company and their vendor gouging me? 

Congratulations on creating an investment in this hot market!

@Drew Sygit

Thank you so much for all the information. I have started my research on management companies in the area and will take your suggestions and learn more on this topic!

That is good to know about the fees being the least of it.

Hello everyone,

I'm under contract for my second buy and hold investment. This home is located in Anderson, IN. I'm an out of state investor and will be using a property management company. Is there anyone here that has worked with a property management company they would recommend in Anderson, IN?

Thanks in advance,

Jasper Zimmerman

@Jason Dirks Congratulations 👏