Scooped up Another deal (to keep) - Rehab Ideas???

Question

Got one I'm keeping. Renting it out for a year to friends then moving in once I meet the requirements for the FHA loan on my four plex.  Numbers are too juicy to let it go, especially due to where I see this area going on future values.

Its in my dream neighborhood, walking distance to the beach in a very up and coming neighborhood. I'll disclose more once we close, that's taking a little longer since I'm using conventional financing (20%) down on this one.

Just wanted some input on the kitchen layout. I really love the bar counter setup but don't think I can really do that in this current layout and where the sink and stove are situated. I do want to open up the wall behind the stove. To allow a pass through kinda setup to the family room. Spoken to a few contractors and getting to work on bids etc.. Just thought I'd ask here for some input.

Does anyone see a way I could cleanly put a bar counter in here or am I better off leaving it alone and doing the pass through by the stove.

J Scott · Answer

If this is a rental, you'll generate the highest returns by keeping your cost basis as low as possible.  Why change the kitchen at all?  Will it significantly increase the market rents (doubtful in my opinion)?

Ultimately, you're just going to be reducing your return by putting money into the property at this point.  I would have any changes like these for when you plan to resell.

Now, that said, if this were a house I was flipping, I'd remove the wall between the kitchen and living room and put in an island and bar-top to separate the two rooms.  I'd move the range to the far wall in the kitchen.  You'd lose some upper cabinet space, but would open up the rooms.

Tim G. · Answer

I'm ready to gut this kitchen. New cabinets, counters and flooring.

I would really like to open that wall up.

Winston Risser · Answer

This is hard to explain. Depends on how much you want to spend . You could put a regular oven range combo where the double oven is . Then cut 3/4 of the wall flush with the cabinets . Let the counter top hang over the wall into the living room . It doesn't look like the wall is load bearing. Of course it would take Moving some cabinets around ,but could be done .

Steven Hamilton II · Answer

I'm with J  Scott in opening it up completely. Add bar top and enjoy yourself.  Maybe open it to counter top height all the way across instead.

Arthur Garcia · Answer

Hey Tim Gordon - I would sand and paint the cabinets white or dark brown (i use sweet molasses by Berh).  Change out the fixtures to brushed nickel.  It should be around $400 and a weekend of work.

After you move in, gut the kitchen,  open up that wall by putting an island with the stove in the kitchen area and a bar top sitting area on the other side.   Since you will have the middle of the kitchen open to the living room, you can drywall the door way to the right of the island (currently a pass through walk way).  This will give you additional cabinet space or room for a fridge.

We just did this for one of our properties and we sold it within 5 days.  I'm not saying it was just the layout that did the trick, but everyone loved it from the feedback we received.

AG

Tim G. · Answer

Thanks for the advice.

I'm only renting for a year because I have to live at my fourplex for one year. I'm moving in right away after that. This is a long term keeper for me to live in long term.

Raymond B. · Answer

Tim Gordon,
You asked: Is this normal to post for rehab advice like this or am I missing something? Just curious.

I don't see any problem that you're asking for opinions on what to do with that kitchen.
I wish that I could help you.
The last kitchen that I did a full remodel on, I brought in a Kitchen designer, that worked at a store, that sells Kitchens.

Raymond

Tim G. · Answer

Thanks Anissa Coury I was thinking the same but it seems a little tight. Trying to see what we can do. Worst case just extend it maybe 2-3' out from where it currently is and make a little area.

Is this normal to post for rehab advice like this or am I missing something? Just curious.

Thanks again.

Anissa Coury · Answer

What if you made an L shaped counter space on the counter connected to the stove across from the sliding doors? I'm not sure if that would close off the kitchen too much, but it might work :)

Scooped up Another deal (to keep) - Rehab Ideas???

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