Woohoo - SFR #2
I am please to say that I just closed on my second property in Midtown Memphis. It is a foreclosure which needs some work. I am taking next week off of my day job, so I can hopefully get this property cleaned up and ready to rent.
I want to strip and repaint the outside and it is likely lead paint. I also need to refresh the roof. I believe the home had a package boiler hvac system which appears to have been stolen, and I would like to get that fixed quickly. Lastly, I would like to refinish the floors before renting. I think i can get the rest done with my own two hand and a little bit of sweat. Any recommendations for contractors that can respond quickly on the above?
Also curious about what method locals use to set their rent. Midtown has a ton of rentals, but it seems they rent quickly by word of mouth and it is difficult to get a good idea of what the property will rent for. Its a 2 bed 1 bath in the better part of V&E and should rent pretty high in that category. I'm thinking it will rent fairly quickly at $900, but I'm thinking of adding nice lighting fixtures, and appliances and starting by asking $1,100/month. Thoughts?
Thanks for the help BiggerPockets!