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Side Hustle #1 rehab is now finally complete! Nope, we still don’t have a tenant in place, but now that the place is COMPLETELY turnkey ready, I don’t anticipate facing any more difficulties securing a quality tenant…
We have a few upcoming open houses scheduled, so we’ll see how things go. If the process drags again, I believe we will just have to bite and bullet and lower rent by $100 or so… Hopefully things don’t go that route and the demand is strong.
I think it’s safe to say — We gave it our best shot!
Rehab Pics
Here are the pics:
New door knobs, light, switches, plates
New door hinges
No more red paint! No more carpet!
New laminate throughout upstairs
New stairs
New lights, mirror, medicine cabinet, counter, faucet
Cheap but looks decent, right?
New alarms and wall registers
Spectacular stadium view!
With rehab, all that we try to accomplish as a team is to get the place in rent-ready condition for as cheap as possible. In total, the cost for all materials and labor was about $7,000.
The laminate cost about $2.00 per square foot, so it’s a little higher quality than just the “bare minimum” stuff. It should be more scratch and chip resistant. The paint, door knobs, light switches, outlets, plates, wall registers, alarms, hinges, etc. were all cheap, but upgrades that I think help make the place “pop” more.
The countertop, mirror, and medicine cabinet set us back about $550. So, another affordable upgrade that gives us a lot of bang for the buck.
Let’s hope our efforts are rewarded!
Pre-Rehab Pics
Here are some old pics of what was inherited:
Blue room with carpet
Red paint scared off everyone…
Old stairs
Old black wall registers
Old counter (not too visible)
Lastly, today was a gorgeous day in the South Bay Area! I don’t recall it ever being this HOT in October before (felt like we were in the high 80’s to 90’s), but it looks like it helped the 49ers prevail over the Chiefs! 🙂
Niner fans up and about early in the morning
Go Niners!!!
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{ 6 comments… read them below or add one }
Wow! Getting rid of that carpet helped even more than I was expecting!
I bet you’ll have a fish on the hook before too long. I assume you are having your PM source tenant leads?
Looks much better! I know the rental market is highly seasonal, so that might be contributing to the time it’s taking in finding a tenant.
Nice work! I wonder if people don’t want to rent before it is 100% rehabbed because they can’t visualize what it will look like in the end, or if they don’t trust you to do a good job (of course, you would, but since they don’t know you personally…)
That looks so much better - I definitely can see why you should be able to get more rent now! What did you change with the stairs?
Great job. Now do your marketing and showing and find a tenant. Be sure to watch, and avoid, low quality tenants.
If you need any help, or want to run an idea past me, feel free.
Looks great! I never get tired of reading your posts. I wiss you can find a good tenant. And fast!
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