All Forum Posts by: Logan Rhea

thanks yall! this is helpful.

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I'm looking to pitch this to an investor who wants to flip this house in Nashville, TN. Below is my estimated scope of work and timeline. Any experienced flippers or investors opinion's would be greatly appreciated.

Scope of Work and Rough Budget

Property Address: 460 Summit Oaks Dr, Nashville, TN 37221
Property Details: 4 Beds, 3/1 Baths, 4004 SqFt, 0.190 Acres
Purchase Price: $500,000
Target Selling Price: $800,000

• Scope of Work:
  • Replace all cabinets with high-end custom cabinetry
  • Install quartz countertops
  • Upgrade to stainless steel appliances (high-end brands like Thermador or Bosch)
  • Add a large kitchen island with additional seating
  • Install new tile backsplash
  • Update lighting fixtures with modern pendants
  • Refinish or replace flooring
• Estimated Cost: $50,000

• Scope of Work:
  • Master Bathroom:
    • Install new double vanity with quartz countertops
    • Replace shower with frameless glass enclosure and custom tile
    • Add a freestanding soaking tub
    • Upgrade fixtures to high-end finishes
  • Guest Bathrooms (3):
    • Replace vanities, mirrors, and lighting
    • Retile showers and floors
    • Install modern plumbing fixtures
• Estimated Cost: $40,000

• Scope of Work:
  • Replace carpet in bedrooms with engineered hardwood
  • Refinish existing hardwood floors in common areas
  • Install durable tile in wet areas (bathrooms, laundry room)
• Estimated Cost: $20,000

• Scope of Work:
  • Paint all walls, ceilings, and trim with neutral high-end paint
  • Use two-tone color scheme for added elegance
• Estimated Cost: $10,000

• Scope of Work:
  • Replace all interior and exterior lighting fixtures
  • Update door handles, cabinet pulls, and faucets to match modern design
  • Install ceiling fans in bedrooms
• Estimated Cost: $8,000

• Scope of Work:
  • Repaint exterior for modern curb appeal
  • Refresh landscaping (mulch, shrubs, and flower beds)
  • Power wash driveway and sidewalks
  • Replace front door and update hardware
• Estimated Cost: $12,000

• Scope of Work:
  • Address any minor repairs identified in inspection (e.g., HVAC tune-up, plumbing fixes)
  • Deep clean entire property pre-listing
• Estimated Cost: $5,000

Total Estimated Renovation Cost: $145,000

Project Timeline

Week 1-2: Planning and Demolition

• Finalize design and materials
• Obtain necessary permits
• Begin demolition (kitchen, bathrooms, floors)

Week 3-5: Structural and Major Installations

• Install new cabinets and countertops in kitchen
• Complete bathroom tiling and vanity installation
• Refinish or replace flooring

Week 6-7: Painting and Fixtures

• Paint interior and exterior
• Install lighting, hardware, and plumbing fixtures

Week 8: Finishing Touches

• Landscaping and curb appeal updates
• Deep cleaning and staging

Total Timeline: 8 Weeks

*This link comes directly from our calculators, based on information input by the member who posted.

Hey @Devin Voelker 

House hacking with an ADU can be a great way to ease your mortgage load! Here's what I'd suggest:

1. Cash Flow: At $3,150 for PITI, your housing cost is about 46% of your income, which is high but can be offset by rental income from the ADU. A mid-term rental near a major hospital could bring in $1,800–$2,200/month, covering a larger part of your mortgage than a long-term rental.

2. Risk: Going mid-term offers higher cash flow potential and flexibility. Just keep 3–6 months of reserves in case of vacancies or unexpected costs. 

3. Plan: With the ADU income, your effective housing cost could drop below 30% of your income. This property could be a great first step in building your investment portfolio!

It sounds like a solid opportunity, but just be sure to keep an eye on cash flow and have a backup plan in place. Good luck!

View report I'm looking into a property I own. I have the a deal set with the original owner where I'm paying 5% interest. We have 3 units: two of them are long term, one is midterm. Do you think an investor would be interested in this if they could take over the owner financing? OR would it make more sense to do a regular loan?

*This link comes directly from our calculators, based on information input by the member who posted.

I would recommend looking in to midterm rentals and posting your house on furnished finder! 

If you go to the bigger pockets property management section here: https://www.biggerpockets.com/landlord-forms

you can download all of their lease agreements free! You may have to be a pro member but I can email them to you if you want!

Where's your property? Here to help! 

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Anyone have any experience converting a basement into another unit to make this property a duplex? The cashflow would be solid if achieved. 

*This link comes directly from our calculators, based on information input by the member who posted.

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*This link comes directly from our calculators, based on information input by the member who posted.

I'm looking to add a 3rd bedroom to the basement / garage for each side to this 2/1 Duplex to make it into a 3/1 property. 

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*This link comes directly from our calculators, based on information input by the member who posted.

Would you do self management or hire out a property manager for this? Both sides are renovated and updated.

Looking for a few different clients

This is in Donelson near the airport! We are finishing the basement up and ideally will STR it once the reno is done! Rents are $3800. Are you looking for any off-market deals?