Cincinnati OH First Single Family BRRR Project
I purchased my first property to rehab about a month ago. Right before the new year. It was an REO that was 39k. I think the bank wanted to get it off their balance sheet before the new year because they wanted a closing date that was before the end of the year, when our offer was in late December. Met them on the date, they moved a little bit on the price. The only problem with that is I had such a short time period to get my act together, get the scope of work done and find a contractor that I really didn't get all that completed until after I owned the property.
I am only working nights and weekends. So far I have been doing demo, surface prep, and finding a contractor. I am going to be doing all the demo, refinishing the floors, repairing walls, painting, and exterior work that isn't roofing myself. I am hiring out roofing, electrical, major framing, carpentry, and flooring.
The goal is to get this done within 3 months. So by the end of March if I have a listing on zillow I will be happy. I have enough cash to potentially do BRRR on 2 properties at the same time. With a 6 month seasoning period that means I have to complete one every 3 months at that scale. At part time work, I will be totally happy completing 4 of these projects within my first year!
Hardwood once the carpet is removed. I am going to be refinishing this myself.
Why is the plumbing on both walls? What a crappy layout! I am not sure what I am going to do about this. Perhaps get a smaller vanity and call it a day. Pedestal, toilet, tub on one wall would make more sense but idk if I want to get into replumbing the toilet.
Closing in a door in the kitchen. Gotta love that texture, right?
For when my son comes along to help.