Rehab Project: Play by play w/ pictures
Hey BP!
Intro:
I have always been thankful for the different posts that people have put up documenting their projects from beginning to end. Given that, I decided I would periodically provide status updates and pictures of the rehab project I am currently working on in Philadelphia.
Background:
Earlier this week, I settled on a shell in the Kensington area of the city, very close to Fishtown. The strategy with this property is a bit of a hybrid but can most aptly be connected to @Brandon Turner's BRRR strategy. The goal, to end up with a property that will appraise at a value such that all of the funds invested throughout will be refinanced out.
It is a 3 story row home that runs street to street. The basement is going to be cleaned up, but not finished entirely, mainly used for storage. It is currently a scary space but when its done, it will be a suitable space for not just storage but a futon/man cave as well.
The first floor will feature a kitchen in the back third of the space with an island that will house the dishwasher and sink. A dining area will separate the kitchen from the living space, think sectional with TV. ( I have rough blueprints with room layouts etc. that I will post later.)
The 2nd floor will feature a master bedroom with nearly 12 foot ceilings, a huge walk-in closet, washer/dryer, and an office/nursery.
Finally, the 3rd floor will have 2 very comfortable size bedrooms that share a bathroom with double sink.
A lot of planning and prep has already gone into this project. I will continue to post updates, problems, concerns, and changes all along the way. Feel free to comment or ask questions as you like.
-James