27 February 2017 | 14 replies
Fully replacing things is where it can get hairy, as sometimes you can expense some items in full, and sometimes you're better off depreciating those items over time (but not necessarily included with the depreciation of the building itself).
24 February 2017 | 3 replies
Be certain to account for any security or last months rent deposits.The tenants may be willing to sign a new lease to replace the old one if there is something in it for them.
23 February 2017 | 1 reply
I would also add removing old,broken,warn out,or enormous furniture that is clearly unattractive and makes the living room and bedrooms appear smaller and less comfortable than they really are.The house should be staged with modern and appropriate furniture to show buyers what they're new furniture will look like in their new home.Excess clothing that is not normally worn should removed from overstuffed closets and dressers and donated to charity,thrown away,or boxed up and stored off site from the home.If your toilets are old or have unremovable stains that look terrible,replace the entire toilet.Bathtubs should be reglazed to look shiny and new again.
24 February 2017 | 9 replies
Also I need to move one door on the exterior and replace the windows.I'm doing the work myself and the house is in my name.
28 February 2017 | 36 replies
I don't expect my RE to know what Level of finishes I am planning or what I intend to replace or repair.
28 February 2017 | 10 replies
The property ended up having severe wiring issues in the house and hvac was replaced.
13 March 2017 | 3 replies
Looking for drywall, floors, ceilings, window replacement, etc.
12 February 2020 | 12 replies
(I know, first-world problems...)As for linens, get really nice ones, and be prepared to replace them when they start to wear or become dingy.
23 February 2017 | 15 replies
I would say you need to plan for the following to happen to you during the next 15 years:- May need to drop rent by $200/month for a while due to market conditions- May have 2-3 months of lost rent due to vacancy and/or eviction- Broken garage door opener, hot water tank, furnace, or appliance requiring a repair man and possible replacement- Need to replace carpets or re-paint the entire unit and it's not covered completely by damage deposits.- HOA fees and taxes continue to go up every year but may not be possible to increase the rents due to market forces.If you have a good W2 job and you can hang on for 15 years and cover these situations I would actually say you should keep the place!
27 February 2017 | 10 replies
@Deanna McCormickn, Wiring, ducts and conduits, plumbing stub outs and framing studs were in place, permitted, and inspected prior to his moving in (I had replaced the entire HVAC, ducts and hot water heater).