All Forum Posts by: Jon Nelson

@Account Closed What is the overall aesthetic of the building and what kind of tenant are you catering to?  I realize your project is more upscale, but that could mean many different things.  Is it young millennial professionals or retired empty nesters?  Is the building 10 years old or 50 years old?  Sometimes the building itself will answer your questions for you.  

For example, I have a 1958 duplex in inner Portland.  The neighborhood appeals to millennials and hipsters and the housing stock was typically built from around 1910 to 1960.  I capitalized on the architecture of the building and rather than gutting the place, refreshed the original cabinets, installed period-appropriate lighting fixtures, got a new stainless fridge but found a vintage Frigidaire wide-coil stainless steel cooktop and installed a new stainless 18" dishwasher (where there previously was no dishwasher at all).  I paid attention to the details (pull-out chrome faucet, USB charging station, light aqua paint, vintage cabinet pulls, LED lighting with a high color rendering index on a $12 dimmer) and didn't spend a huge amount on countertops.  Instead, I got a $130 sheet of "white ellipse" Formica and ordered some metal edging from a metal extruding company in Minnesota and had my handyman install it.  

The edging really made an aesthetic difference but was only $25 per 12 feet, and I used the same Formica for the backsplash, installing it all the way up to the cabinets.  No one who came to see the place said, "ew, laminate countertops."  Instead, they drooled over the USB charging station and wide coil cooktop and swirly patterned linoleum floor.  They loved the metal edging and its retro-cool factor.  For context, rent is $1700 for a 3/1 and it's shared by three women in their 20s.  They pay all their own utilities except garbage.  

The moral of the story is, if you know who your customers are and pay attention to the details that they care about, the decisions will take care of themselves.  (Designers also help, but I happen to be one so I didn't have to hire one.)

p.s. If doing laminate, I recommend hiring people who install it often.  My handyman flubbed in a couple places, which you might notice in the pics below.  

@Account Closed What is the overall aesthetic of the building and what kind of tenant are you catering to?  I realize your project is more upscale, but that could mean many different things.  Is it young millennial professionals or retired empty nesters?  Is the building 10 years old or 50 years old?  Sometimes the building itself will answer your questions for you.  

For example, I have a 1958 duplex in inner Portland.  The neighborhood appeals to millennials and hipsters and the housing stock was typically built from around 1910 to 1960.  I capitalized on the architecture of the building and rather than gutting the place, refreshed the original cabinets, installed period-appropriate lighting fixtures, got a new stainless fridge but found a vintage Frigidaire wide-coil stainless steel cooktop and installed a new stainless 18" dishwasher (where there previously was no dishwasher at all).  I paid attention to the details (pull-out chrome faucet, USB charging station, light aqua paint, vintage cabinet pulls, LED lighting with a high color rendering index on a $12 dimmer) and didn't spend a huge amount on countertops.  Instead, I got a $130 sheet of "white ellipse" Formica and ordered some metal edging from a metal extruding company in Minnesota and had my handyman install it.  

The edging really made an aesthetic difference but was only $25 per 12 feet, and I used the same Formica for the backsplash, installing it all the way up to the cabinets.  No one who came to see the place said, "ew, laminate countertops."  Instead, they drooled over the USB charging station and wide coil cooktop and swirly patterned linoleum floor.  They loved the metal edging and its retro-cool factor.  For context, rent is $1700 for a 3/1 and it's shared by three women in their 20s.  They pay all their own utilities except garbage.  

The moral of the story is, if you know who your customers are and pay attention to the details that they care about, the decisions will take care of themselves.  (Designers also help, but I happen to be one so I didn't have to hire one.)

p.s. If doing laminate, I recommend hiring people who install it often.  My handyman flubbed in a couple places, which you might notice in the pics below.  

Anyone in Portland, OR area know of any local banks that offer 70%+ LTV HELOC's on rental properties?