Hi @David Cabañero Vazquez, you're welcome. A lot of these homes in Hollywood have "good bones" and are structurally sound, however they are just dated and need cosmetics and someone with an interior design vision.
Think about two different rehab paths for your purchase:
1. Long/mid-term rents: You can just do the basics; flooring, paint, basic landscaping.
2. Airbnb/STR: You're gonna wanna do a little bit more besides the basics. Budget for home decor/furnishings and if you can improve the pool or add a hot tub to maximize the return.
Re: wiring- On my last deal in Hollywood I represented the buyer we negotiated with the seller for a credit to re-wire the house. Of course its different for every deal but just wanted to share that insight. Right now sellers are willing to work with buyers in some cases.
Take a look at this before/after example thats in Wilton Manors not too far from Hollywood.
Before (sold 2019 for $532k): https://www.compass.com/listin...
- basic rental finishes, 2 units were airbnb 1 long ter,
After (coming soon 2023 listed at $1.79M): https://www.compass.com/listin...
- painted, renovated bathrooms, improved pool with waterfall, etc.
Hope that gives your some inspiration!! Reach out if you need anything else.
