Ok, she needs a lot of work, but home is where the heart is! As an update since last time, I’ve closed escrow and am now starting renovations on the new rental property. I’m allocating about $16,000 for repairs and labor. Basically, I’m going to gut the place and replace everything. The sellers didn’t exactly take great care of the property… and left a lot of work to be done. The windows are cracked, the stove doesn’t work, the bathrooms are filthy, etc. Even the piping is completely corroded and needs to be replaced (40+ year old iron pipes).
When all is said and done, she will be a beauty queen! I’m even going to slap on some granite on the kitchen counter. Hopefully I’ll be able to charge above market for rent ($2300/month). It’s amazing how much some folks are willing to overpay to have that granite… Enjoy the pics!