70 Year Old Rental Property Renovation Dairy (Pictures)

[Robbie Wyness]

I've recently purchased a 1950 three bedroom, one bathroom 972 sq ft single family home. We paid $67,500 plus $1,600 in closing costs for the place. Experience from our first rental, rent will range from $1,100 to $1,200 plus utilities. Our renovation budget is $40,000. 

To evaluate the rental property I've used the excel spreadsheet found here in the MMM forums: https://forum.mrmoneymustache.com/real-estate-and-...

Here is some pictures of the properties exterior: 

Front Door: 

Rear Door:

Side View North

Side View South:

We're modelling the exterior renovations off of this picture. Ordered similar coloured siding and stained wood shakes to install, instead of extending the roof and adding timbers on the front deck.  

I'll post pictures of the interior and a breakdown of the $40,000 renovation budget soon. 

[Robbie Wyness]

@Matthew Paul Thanks, from what we've seen so far that appears to be the case. 

@Will Coleman That's the plan. It'll be nice to have the thread to look back and reflect on the lessons learned after the project is completed.

Here are a couple pictures from when we were removing the asphalt siding.