Andy Verge
Lead Paint Issue and How to Fix
2 March 2020 | 2 replies
They may have requirements beyond State of Maine requirements.I'm not sure of the scope of your renovation, but one of the blessings of a full renovation is that all that old lead covered trim, doors, cabs, etc is pulled out of the home.If you're going back and forth on how much reno to do on this project before you rent it out, read carefully the abatement section on the link below.
Satha Palani
Smells like stale cigarette smoke but is not
2 March 2020 | 4 replies
Maybe the curtains, ceiling, cabinets, baseboard and trim, or a variety of places.You could try running an ozone generator to see if that helps.
Tina Jenkins
Apartment Remodel by Cummings Property Mgt Team. They did great!!
10 March 2020 | 6 replies
They fumigated, ripped up & replaced flooring, repainted walls, ceilings trim and doors and replaced doors, Got the bad tenants out and much more.
Doug Dias
First BRRRR: Worcester, MA Single Family
9 May 2020 | 8 replies
We are now one week into the rehab as I type this.Current BRRR Numbers:Pre-closing Costs: $2,740Plumbing inspection (because the house needed to be dewinterized, $150)Home inspection ($525)Appraisal ($655)Electrical inspection (because power was off on the day of the appraisal, $150)CO and Smoke Alarm ($366.57)CO and Smoke inspection ($52.50)Rehab consultant ($840)Kitchen Appliances: $2,000 (estimated)Plumbing: $7,300 (estimated)Oil tank ($1,800)Water heater ($1,000)Chimney liner ($2,000)Re-piping as needed ($2,500)General Contractor: $32,000Roof replacementDrywall patching and painting of entire house (trim, wall, ceilings)2nd floor bathroom spruce-upClosing exterior door in master bedroom and finish sidingBuilding two closets in two bedroomsBroken window repairsWindow frame repairsScrape and paint area over bulkheadFinish floorsRemove and dispose drywall from basement spacesRear deck repairFront steps repairInstall handrail to basementFoundation masonry repair and paintingRepair cement stepPatch area of exterior trim near kitchenPatch two rotted window sillsCap extra basement doorFill in dining room windowAsbestos: $1,500Electrical: $2,000 (estimated)Closing Costs: $3,733Home Purchase Price: $149,000Total All In: $200,472Expected ARV = $250,000 (initial appraisal for rehab loan came in at $235,000)Amount I have invested in the deal = $50,000Expected Cash Out at 80% = $50,000The situation is still very fluid, as we still have at least three more weeks of the rehab in front of us, but the numbers thus far are still looking promising, despite all of the surprises.
Gerard Leeson
Advise on Chicago 3 Flat needing major renovation
12 March 2020 | 10 replies
Paint all the walls, ceilings, doors, trim, cabinets.
John Sherwood
4 Plex... focus on cash flow, cash on cash, cap rate???
15 March 2020 | 11 replies
A water heater will often last 9-12 years, I saw one yesterday at an inspection that was 24 and still cranking.Also consider non mechnaicals like floors, light fixtures and interior doors and trim, kitchen cabinets etc..
Nicholas Oh
experienced, but I've never experienced this!
9 March 2020 | 7 replies
I needed to caulk, trim paint and the biggest thing was pressure washing the rear deck because the previous tenant had potted plants on it for 4 years... a bit of a pain because it's a very humid environment down here so wood rot is prevalent.
Slava Golubov
Repair or rent as is
11 March 2020 | 6 replies
(painting, gutter work, minor landscaping, tree trimming, etc).
Blake Dailey
Main House with Detached Studio BRRRR
10 March 2020 | 0 replies
We started by cleaning out any evidence of animals and repaired the damage they had done to the trim and walls.