12 September 2017 | 3 replies
This is what I have done to the property and what's next.Bought at; 77,500$ (4bed/2baths) Rehab budget: 10k (but since there were major unseen problems pushed it to 13k)Closing cost; 780$Lenders fee: 7% of 100k he let me borrow so 7k Buyers agent fee: 3,500$ (3%)ARV; 125k (I will try to sell at 130k since it did not get flooded by Hurricane Harvey )Holding = 3,000$ ( 6 months holding) Profit= 17k-25k This is the work the house needs and some that I had done and what it cost me.Foundation lift (28 wholes) = 4,050$ (done)Plumbing (while the lift pipes broke) = 1,200$ (done)Driveway =2,000$Kitchen = 1,200$ (halfway)Roof rot repair = 500$ (done)(did not replace the whole roof since it’s in fair condition)Laminate Flooring = 400$ (done)Restrooms = 800$curb appeal = 500$Paint = 200$ (have it)hardy planks = 100$framing/sheerock = 300$ (done)bass bord = 250$ (have it)fans = 100$ (done)doors = 450$ (done)Helper = = 180$ (halway)total = 12,230$ left =770$Most of the work I’m doing my self with others except foundation, plumbing, kitchen.
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14 September 2017 | 3 replies
Once the tenant moves out ill be going in to redo the kitchen, bathrooms, painting etc.
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24 September 2017 | 21 replies
Every year one more house on Holton has a fresh coat of paint, a new porch, roof, landscaping etc...
20 March 2018 | 53 replies
. -- got as-built plans from the previous owner and started marking them up in Microsoft Paint to show an optimized floor plan.
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18 September 2017 | 1 reply
I'm looking for a reliable Painting contractor in the Fayetteville NC area for exterior painting.
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25 September 2017 | 10 replies
You may want to contact one to do an assessment first to see if there are any areas of lead paint and then address them in rehab when it will be cheaper.2.
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6 September 2017 | 6 replies
Purchase price 147KListed for 299K, sold for 285 (went under contract for 290 but dropped it another 5K at buyer request after the appraisal just to get out of the deal)Home Depot credit card: 10K (appliances, fixtures and other things we picked out and purchased ourselves rather than having GC use typical builder grade stuff, also husband did some of the work himself so bought his own materials)Brought 40K of our own cash to the closing table, loan total when paid back was 185 (original loan 175 plus 10K in accrued interest, 12 month balloon loan so we did not have to make payments during the rehab, which helped a lot with cash flow, also loan had rehab costs folded in so for the most part we paid our guys out of the loan and not our own pockets)So (numbers are round): 285 sale price - 185 (loan payback) - 40 (cash we brought to closing) - 10 (Home Depot card) - 10 (closing costs) = 40K profitWork done: insulation and vinyl siding (this ate 18K of rehab budget but was unavoidable as cedar shakes were disintegrating), converted to natural gas heat (ducts already in place, changed out electric hot air blower to gas one and gas company ran the gas from the street for free), replaced AC compressor, new water heater, two new bathrooms, replacement windows, new appliances but left the wood cabinets b/c they were in perfect condition and I could not justify painting/replacing them, new kitchen backsplash, removed wall between kitchen and dining room, wood laminate flooring throughout except for new carpet in downstairs den, painted the deck/railings, new garage doors, one new slider, all solid wood interior panel doors, of course fresh paint and new light fixtures throughout.dining roomThere was moisture damage downstairs from bank not winterizing and pipes bursting...thanks, bank.Hauled out enormous old woodstove and broke up ugly old hearth and left good flue for someone to add new pellet or woodstove to if they want to, we figured not everyone wants a woodstove and this way the buyer can decide to add one back if desiredBathroom off downstairs den, chose a walk in shower for variety, hosing off dog or muddy children, disabled access, etc.
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17 July 2017 | 23 replies
The tile guy can work in the bathrooms while the other 95% of the house is being painted.
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15 July 2017 | 1 reply
It obviously needs painted at the very least, but we took along a contractor friend who seemed pretty certain Maryland would make us completely remove it, but he wasn't sure.
18 July 2017 | 22 replies
Secondly, if you've purchased a house that needs a little help, you would be shocked at what paint, new fixtures and a few flowers can do for value.