Latest project, befores and after rehab...

[Anson Young]

Big house, 3100 sf, 6 bed, 4 bath, 5 car garage, corner lot.

Rehab cost $48k, needed EVERYTHING. All new baths,
kitchen, refinish original hardwoods, every surface had
wallpaper on it, garage slab needed to be removed and
repoured, carpet, inside paint, all new doors, windows
... maple cabinets/vanities, custom tile, granite slab,
travertine tile, all new light and water fixtures/toilets.

Here goes the photo fun!

front before, not too bad, vinyl siding

Front after, landscaping, trim paint, cleanup, etc.

Entry before, vinyl floor, original 60s railings etc..

Entry after, travertine tile, new iron/wood railings.

Kitchen befores:

Kitchen afters: stainless steel, maple cabs, travertine tile and backsplash, granite slab counters
and island.

Basement bathroom before:

Basement bath after:

Continuted.....

[J Scott]

Originally posted by R DeMeritt:

It's been my experiance that no matter how much you spend on a rehab project, the property is only going to sell for what the comps can support.

This is only part of the equation. By spending more, you reduce the number of days on market, as there is little competition among other houses in the area.

By reducing DOM, you increase ROI. For someone (like me) who does multiple rehabs simultaneously, getting my money out of one project and into another is more important than extracting every last penny of profit. I'll take less profit and a short hold time over greater profit and longer hold time any day...

I just completed a 3 bedroom house that we gutted everything out of. It's was an empty shell. $8500 later it's the nicest house in the neighborhood...

Perhaps I'm missing something, but I don't see how it's possible to do a gut-rehab for anywhere near that price. Perhaps your definition of "gutted" is different than most.

Even if that house were only 1000 sq ft (unlikely for a 3br), your rehab would have cost about $8/sf...which is more like a paint and carpet rehab than a gut rehab.

Can you break down your costs a bit more to give an idea of what you actually did?