All Forum Posts by: Just Don

i guess I am nuts and bolts type guy. I would 'look' at the heat/furnace efficency,water heaters type size and location,,gas supply,,electrical (very closely).

Generally older units have dated equipment,,,generally replaceable at a cost,,,but cost is cost. And some cant be changed. Do they have ac?appliances and their condition.

Doors and windows a standard sizes where replacement isnt major rehab. Roof walls and foundation secure.

YOU can change rent rolls more easily than replacing electric systems,,,say knob and tube,,,or even ungrounded,,,not an easy task in say masonry construction.

BIGGEST issue,,does it meet all building regs,,,if there is a minor fire even, a small incident and they red tag the building its a bad deal. Had a building condemned once because tenant called city and asked how to get rid of a garder snake on sidewalk,,,I kid you not.

if your not allowed access to see how extensive the damage is you have to figure on total replacement of entire area. If they are engineered joists it is very tough to replace. If sistering more lumber on side of them its easy. Plywood replacement is easy enough. ALL insulation that ever got wet will need to go. IF mold is there, it needs removed and all sheetrock as example need replaced. Thats why the new carpet was installed, to cover up,,,whats under carpet?

As to unpermitted rooms in garages, that varies by area. Garages were not constructed to be lived in and CAN cause issues. Having to tear it out if non permitted, would be financial disaster. Check with others in your permits location for their opinions. Other contractors in your town for their experiences with how your permits people treat this.

Need about estimate of 10K to finish my reno. Can you get a home improveement loan on a house with no first mortgage? Even for a non owner occupied? How do you find private lenders?

If your doing the project do it for the heaviest worst rain scenario. Use larger size downspouts at least. If its a big roof the larger gutter size also. Size does matter. Next hard rain watch gutters around you to see how many are running in unwanted areas. Nothing uglier than water running all over.

Steep learning curve.

Expensive hidden costs.

Always 10 times more to do than it looks like.

Costs spiral fast.

sorry I disagree on green board. IF you use best product would be dens-sheild,,or blue sheetrock, mold resistant both outside paper and inside gypsum. This is a wet room,,,mold is a problem, use most mold resistant product you can. Cement board and tile works on all lower areas. think water PROOF!!!

Also what would one think of taking off old linoleum and refinishing glued up oak in kitchen? Does oak work for kitchens? I have no clue what builder was thinking with oak in kitch and utility room and pine in living and bedroom.

I pulled back carpet further last week and have some very DEEP damage from time passed when wood floors were norm.

How deep can you sand? No closets to rob from,,will check with some salvage places. Prob should sand a place or two to see if it macthes. This looks more yellow pine than last house. Size matters too,,,has to be excellent match.

OR what other hardwoods can I replace with?

And how far back to random splice into so splices dont lap??

you said what can be bought for but not 'exact' cost of rehab,,,and finished sale price. Keeping them all for long term rental would take deep pockets till you built the numbers. Once you own 10 to 20 properties free and clear then gaining more is easy.

My advice, start slow, go easy till you find exact finished cost. Those little things add up fast,,,and hidden must do's are uncovered every day.

so was this both heat and air? 3k seems cheap for all new everything. or just putting new air in existing heat unit?

I think either way you would have to fix it to sell. People just cant fix stuff on there own any more. Are there ANY more repairs needed to be 100 per cent move in condition???

How much is lot rent? Both for new buyer to pay,,,and holding cost for you?? Other holding costs? Or utilities?

Guess in the future you have to be sure of present and repaired values, repair cost estimates and be ready to pull the trigger.