For the past few years, I haven't done much with real estate, except gain more knowledge. I have been learning real estate for about 10 years now. Prior to the rehab property this post covers, I owned 1 rental unit purchased in 2011 (my first home at 23), and my current personal residence.
A few months ago, I had a conversation with a friend who also invest in real estate & we decided we would do well to partner together. He recently partner with someone to acquire multiple units & we both thought we could do it as well.
Well just a few weeks ago, we did it! We purchased our first property together, a single family home.
We are in our 3rd week of the rehab (I'm late getting this posted) and all of the surprises are behind us.
The house is 3 bedroom 1 bath, 1,065 sq ft. We added a .5 bath to make it 3/1.5. The picture below is the before. I will update with more pictures of the remodel soon & the finished product in about 2 weeks.
The house is getting a new roof, HVAC system, paint, flooring, refinish hardwoods, landscaping, & exterior repair.
We plan to rent the home, but are open to selling it as well.
This is a leap of faith for us both as it's the biggest rehab for either of us.
Post your questions or comments!
Congrats and best of luck! I just did my 2nd renovation / flip last month. I'm looking forward to seeing the finished product!
Awesome and congrats @David Campbell ! The property looks like it has lots of potential. Are you planning to flip it or BRRRR it?
If you plan on renting it out I'd recommend looking into clear gloss polyurethane to put on the hardwood floors or any ceramic tiles in the bathroom or kitchen. Really good for ''tenant-proofing'' your investment.
Looking forward to the updates!!
@Alex Hummel thanks. Did you sell or rent it?
@Kyle Trotman planning to rent this one. Thanks for the tips on the flooring as this has both tile & hardwoods.