All Forum Posts by: Mike B.

@Sam Stolt agree with above comments.  Something minor.. paint, flooring, kitchen cabinet install.. dont need permits for cosmetic stuff like that. 

Electrical/plumbing updates/changes, room/building additions or anything structural.. do it right the first time. Hire someone licensed/insured, pull permits, etc.  

Cozy is great. 

For credit and criminal background checks I've used AmerUSA.com / RealSerious.com (I've found it to be the cheapest)

Cheap budget upgrades for your 10K budget, I would definitely:

• Paint the whole house repose grey (Sherwin Williams) with white trim
• If flooring isn't the same or needs to be replaced.. a nice, lighter colored laminate throughout
• New baseboard trim, 5.25"H adds a nice touch (and paint all trim bright white)
• Kitchen.. if old cabinets, paint them. If they're fine but countertop is old.. put a new one one. Granite. Make sure SS appliances are there (or VERY clean white/black appliances.. uniform in color). 
• Add some updated (but cheap) exterior lights and interior LED lights (either recessed or swap out bulbs)
• If bedrooms only have 1 dome light, could consider adding a nice big fan/light combo.  I usually pick up a $100 fan/light combo (modern looking of course) from Home Depot or you find deals online

There's still value add in the exterior, so definitely don't ignore it, but don't go overboard. Would also check out your neighbors and recent sales to see what yards they have (or what landscaping, flowers, etc was done). 

Usually the basics for good curb appeal and return would be:

• Green grass (no weeds or big empty patches), have the trees and bushes pruned.
• Use low lying flowers/shrubs at front of house so there's some color and character.. but you're not blocking up the view of front of the home

Keeping things generally 'manicured' is the better way to go.  Adding mulch to flower/planter beds is good too

For a single family home, a couple thousand dollar investment should yield a good curb appeal return.  Pictures of your home would also help plan this out better 

Agree with above comments.  All my rentals/flips in past few years were painted Sherwin Williams "Repose Grey". I felt it reflects the light well, it was HGTV color of the year (2017 I believe?), and I always get positive feedback on the look. Match that with a regular high gloss white trim and you're looking good.  Adds a good modern touch

Hi everyone,

I thought this could be an interesting/fun topic.  I'm about to close on a home. I know what design I "could" go with.  However I'm polling YOU.. the BP crew to weigh in on my decisions and tell me if you would agree or would do something different. 

I'm about to close on a "grandma's house " as I call it (3 bed, 1.5 bath south philly row home). I picked this up, off market; it's next door to my recent rental I just finished (https://www.biggerpockets.com/forums/522/topics/56...). Happened to be a 'right place, at the right time' sort of deal, so very thankful for Karma and all things considered.

The goal is to put <$15K (interior only) into it (this includes hiring out/labor). I'm handling the exterior, more to come on that later, but I wanted YOUR feedback.

Interior hasn't been updated in years (grandma's house.. literally). I'm looking for low-buck (but worth the value/labor) to rehab, clean up, and rent out quickly. Ideally rehab in <30 days. WINDOWS are good, so don't worry about that, electrical or plumbing. **JUST focus on the cosmetics. Target rental price is $1200-1400.

Neighborhood is a B-/C+ (blue collar, mostly safe place, near highway, public transit, and shopping)

My thoughts:

--Re-paint whole house neutral colors (e.g. Repose Grey). Some of the wood paneling I was thinking of just painting bright white (e.g. in bathroom/kitchen) and adding trim to make it look more like beadboard (see pix)

--Kitchen: paint cabinets; New Countertop (laminate vs. granite??); new SS appliance package, add recessed lights with new ceiling tiles, install new SS hardware/knobs on the cabinets. LEAVE current kitchen configuration/setup. Flooring would be a light gray LVP (waterproof)

--Flooring: there MIGHT be hardwood floors that can be saved. If so those will be sanded/refinished. If not.. install laminate the whole house, with waterproof LVP in kitchen/bath

--Bath: Paint vanity and all wood paneling bright white, put on new countertop (laminate vs. granite?).  ??Demo some wall tile and new sheet rock. There IS a separate TUB and SHOWER stall as you see in the pix. Shower stall... pull plastic and tile?? Match tile from Shower with that of tub? And then spray tub bright white.  I'm a little lost on best thing to do in bathroom.

--Bedrooms: 52" ceiling fan with bright LED lights for each bedroom

--Closet organizers (or add closet doors where missing) to current closets in place (there's several so I don't have to add any)

I had trouble uploading images to this post, so you can see pictures by going here: https://www.dropbox.com/sh/sachv33pq1q1evh/AADOot7MmEkTkYsCm-k5XLP-a?dl=0

Let the brainstorming begin!  Thanks in advance! 

@Matt Rutter - I have an REI friend who just did this to a 4-plex for value-add.

Unfinished basement, dark, etc.. 

He had his handyman: 

• Touchup/cement all the wall areas with any cracks/holes
• Painted the basement white (professional sprayer used)
• Any exterior cement walls got UGL Drylock just in case
• Added extra lighting (3-4K LED bulbs are great) so it makes the whole space now feel 'light and bright' and not a scary, dark dungeon
• Added coin-op laundry x2 (washers and dryers, 2 sets).  If you have already that's fine.
• Also made a laundry 'station' with a large folding table on the wall and shelving for soaps, etc
• Built (4) large 8x8 storage units with their own doors. Tenants provide their own locks.

Overall I think he spent a few thousand on this (namely 2/2 washers/dryers he had to purchase) but well worth it and in the end increased his rent a few hundred dollars for the building too. 

@Joe P. I think your idea/solution is totally reasonable. Be upfront/honest, offer the $100 discount.  If I was the renter and you were telling me this, I would think it's reasonable. They MIGHT counter, and ask you to guarantee the issue would be resolved in a short time period (e.g. 60 days) which I would think is reasonable

Hi everyone,

Well, I'm about to close on my "grandma's house " as I call it (3 bed, 1.5 bath south philly row home). I picked this up, off market; it's next door to my recent rental I just finished (). Happened to be a 'right place, at the right time' sort of deal, so very thankful for Karma and all things considered.

ANYWAY, I thought it may be interesting/fun to get YOUR opinion/recs for rehabbing this place. The goal is to put <$15K (interior only) into it (this includes hiring out/labor). I'm handling the exterior, more to come on that later, but I wanted YOUR feedback.

Interior hasn't been updated in years (grandma's house.. literally). I'm looking for low-buck (but worth the value/labor) to rehab, clean up, and rent out quickly. Ideally rehab in <30 days. WINDOWS are good, so don't worry about that, electrical or plumbing. **JUST focus on the cosmetics. Target rental price is $1200-1400.

My thoughts:

--Re-paint whole house neutral colors. Some of the wood paneling I was thinking of just painting white (e.g. in bathroom/kitchen).

--Kitchen: paint cabinets; New Laminate? countertop; new SS appliance package, add recessed lights with new ceiling tiles, install new SS hardware/knobs on the cabinets. LEAVE current kitchen configuration/setup. Flooring would be a light gray LVP (waterproof)

--Flooring: there MIGHT be hardwood floors that can be saved. If so those will be sanded/refinished. If not.. install laminate the whole house, with waterproof LVP in kitchen/bath

--Bath: Paint vanity and all wood paneling bright white, put on new countertop. ?Demo some wall tile and new sheet rock. There IS a separate TUB and SHOWER stall as you see in the pix. Shower stall... pull plastic and tile?? Match tile from Shower with that of tub? And then spray tub bright white

--Bedrooms: 52" ceiling fan with bright lights for each bedroom

--Closet organizers (or add closet doors where missing) to current closets in place

I had trouble uploading images to this post, so you can see pictures by going here: https://www.dropbox.com/sh/sachv33pq1q1evh/AADOot7MmEkTkYsCm-k5XLP-a?dl=0

@James Masotti 75/25 LTV. 5.5% for 30 years. It’s under my personal, I don’t have it under a business or anything so I get the slightly better rate Good thing I locked in earlier with the Fed raising rates!