In this article

The good news is there were no surprises during the rehab process. The renovation is almost complete, and there are only a few items that need to be finalized.

If you haven’t already seen the pre-renovation stages, that video can be viewed here. I recommend checking it out.

Breakdown of a $30k Rental Purchase: Renovation Stage

Team

Without our hard working team, this process would not have gone so smoothly. Our construction manager oversaw the rehab crews on the project to ensure everything ran according to schedule. In the event you have a solid crew, be good to them. They can be hard to come by, so when you find a good one, hold onto them tightly.

Related: Case Study: Why $30k Real Estate CAN Be Profitable [With Pictures & Numbers!]

Rehab

The scope of the work given to the contractor can be found here.

Conclusion

After the final punch out items are completed, the all-in will be under $40k. This property will be in leasing soon at $675k; however, it is also possible that it will go directly to a homeowner due to recent activity in the immediate location. The decision will be made soon.

Any questions or comments about the renovation of this deal?

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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.