This is what my $23K seller financed SFR looks like after rehab.

8 Replies

I just completed the rehab on a 3/1.5 SFR that I purchased through seller financing.

purchase price $23K

10% down, 12 payments- based on a 5% interest rate, and amortized over 20 years. A balloon at the end of the 12 months. 

I invested $12,600 out of pocket. $5,500 of that was dp, closing cost and tree removal. 

I have it listed at $750/per month, but I'm thinking I'll go the section 8 route though. So it might rent for a little less, but it will be guaranteed. 

Attaching a link to video. Let me know what you think.  Thanks for the time. 

https://www.youtube.com/watch?v=3gFR1AfmG0o&featur...

Looks fantastic! Did you do the work yourself?

@Chris Garrett Thanks for checking out the video. As far as who did what, it was a group effort. It was the first property where I paid someone else to do a lot of the work. It cost me upfront, but hopefully will payoff when it comes to how fast I will have it rented. It was a total of 2 other people and myself. One being a plumber who got it done. 

very nice job @Graham Nash .  Would mind sharing what kind of materials you used for the rehab?   Flooring, paint, kitchen cabinets, etc? It looks very well executed and spot on as far as a rehab for a rental property goes.  

You didn't mention any rehab details or costs. ?

@Jack D. Sure. As far as materials go, it was pretty basic. I went with Benjamin Moore on the wall paint. My wife is an interior designer. She has all the chips, so I asked her to pick a couple of colors. It only took 2 coats to cover those colors that were on the wall. There were some spots that took more, but I know a few tricks to cut down on the bleed thru that some paints can create. I think the B Moore paint is worth the extra, because it covers much better than some of the other brands. So it saves time and energy. The ceilings weren't bad,  just went with a generic calling paint. Sprayed one coat, and done. Same with trim. Used around 11G of B Moore paint (with a sprayer). It was around $250 total. 

Flooring: Underlayment in the kitchen and laundry had been replaced with 5/8 plywood fairly recently. That was nice. I just found sheet vinyl that matched what was down in hall and full bath. Purchased and installed it. The underlayment throughout the house was particle board. Which is terrible. That's why I went back with carpet in the bedrooms. It's a lot more forgiving than than other types of flooring. I realize it will probably need to be changed after the first tenant moves out, but so does the particle flooring under it. And I'm fine with doing it after I've recouped some of my investment. The ceramic time was already in LR. Spent a couple of days cleaning it. The flooring cost less than $500 material. I installed. 

Cabinets: These are the original cabinets, for the most part. We cleaned, cleaned, cleaned and painted them. We had to rebuild the 4 drawers, as well as the small cabinet btwn stove and fridge. That took some time, but probably only cost about $75 in labor and material.  Removed the dishwasher because IMO, it's just one more thing that can, and will, go wrong. Replaced the space with an under the counter microwave shelf. Stuck an outlet on the existing elec. supply. Cleaned and painted bathroom cabinets. Used scrap plywood to rebuild closet shelves. 

Replace all the outlets, switches, plates and light fixtures. Purchased all off Amazon.  New oven vent and light. $75

I paid a plumber to to install a pressure reducer valve, fix outside spicket, repair a couple of leaks under cabinets, repair fixtures, install new toilet in 1/2 bath, repair drain line from air handler, $635. 

I spent $2000 in tee removal. 

We installed 3 new hollow core 6 panel doors and hardware. $300

As a teacher, I generally do most of the work mysel in the summer. I paid 1 person $15 and hour ($3600) to do a LOT of this work. I spent ALL day Saturdays, and holidays over there doing all that I could. 


If it could be fixed, it was. If had to be new, it was bought new. 

So far I'm looking at around $13K, that includes dp and closing cost, which was around $3500. 


I realize this post is all over the place. I'd be glad to discuss over the phone. 

thank you @Graham Nash ..appreciate the feedback.  Good luck to you.

@Jack D. Sure. As far as materials go, it was pretty basic. I went with Benjamin Moore on the wall paint. My wife is an interior designer. She has all the chips, so I asked her to pick a couple of colors. It only took 2 coats to cover those colors that were on the wall. There were some spots that took more, but I know a few tricks to cut down on the bleed thru that some paints can create. I think the B Moore paint is worth the extra, because it covers much better than some of the other brands. So it saves time and energy. The ceilings weren't bad,  just went with a generic calling paint. Sprayed one coat, and done. Same with trim. Used around 11G of B Moore paint (with a sprayer). It was around $250 total. 

Flooring: Underlayment in the kitchen and laundry had been replaced with 5/8 plywood fairly recently. That was nice. I just found sheet vinyl that matched what was down in hall and full bath. Purchased and installed it. The underlayment throughout the house was particle board. Which is terrible. That's why I went back with carpet in the bedrooms. It's a lot more forgiving than than other types of flooring. I realize it will probably need to be changed after the first tenant moves out, but so does the particle flooring under it. And I'm fine with doing it after I've recouped some of my investment. The ceramic time was already in LR. Spent a couple of days cleaning it. The flooring cost less than $500 material. I installed. 

Cabinets: These are the original cabinets, for the most part. We cleaned, cleaned, cleaned and painted them. We had to rebuild the 4 drawers, as well as the small cabinet btwn stove and fridge. That took some time, but probably only cost about $75 in labor and material.  Removed the dishwasher because IMO, it's just one more thing that can, and will, go wrong. Replaced the space with an under the counter microwave shelf. Stuck an outlet on the existing elec. supply. Cleaned and painted bathroom cabinets. Used scrap plywood to rebuild closet shelves. 

Replace all the outlets, switches, plates and light fixtures. Purchased all off Amazon.  New oven vent and light. $75

I paid a plumber to to install a pressure reducer valve, fix outside spicket, repair a couple of leaks under cabinets, repair fixtures, install new toilet in 1/2 bath, repair drain line from air handler, $635. 

I spent $2000 in tee removal. 

We installed 3 new hollow core 6 panel doors and hardware. $300

As a teacher, I generally do most of the work mysel in the summer. I paid 1 person $15 and hour ($3600) to do a LOT of this work. I spent ALL day Saturdays, and holidays over there doing all that I could. 


If it could be fixed, it was. If had to be new, it was bought new. 

So far I'm looking at around $13K, that includes dp and closing cost, which was around $3500. 


I realize this post is all over the place. I'd be glad to discuss over the phone. 

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