Fix n Flip options for best ROI, cheap n quick or rehab?

2 Replies | Nashville, Tennessee


Cleanup Job (Low cost fast flip):

  • landscape package in front
  • remove deck
  • remove vines from house
  • clean exterior, fix siding and wood rot, paint neutral beige/gray color
  • clean driveway/weed, clean retaining wall/pavement
  • replace flooring with mid grade flooring bottom level, carpet upstairs
  • replace interior fixtures
  • paint interior white trim, light color beige/gray walls, popcorn ceiling removal
  • new kitchen appliances

Rehab options:

  • Replace deck with new one (kind of awkward that high to me) vs Remove and fill in wall or add large window to master.
  • Potential space to move laundry into upstairs bathroom closet vs basement
  • Can maybe get away with toilet/vanity replacement in each bathroom
  • Uncertain if painting or replacing cabinets with ikea type is worth it
  • Any in-ceiling lighting will open up codes stuff with electrical since it is out of date
  • Repave/fix concrete front porch and side porch - replace/paint railing
  • Replace front walkway cement, or remove walkway and replace with right angled walk to driveway (may not provide ROI)
  • Tear down vs paint garage port in back yard

Which do you think provides highest ROI?

Property is near Haysboro & Gallatin. 

@Leland Smith

Only touch the stuff you have to touch. if you have to touch something, don't go cheap. People will notice cheap as soon as they walk in the door.

What's your max rehab budget? You'll have to make a list of must haves and a list of wish items.

To calculate your ROI, you have to run the numbers and look at the ARV.

What are other people doing in the area? Are they putting in stainless or going with white appliances. You have to gauge what the market will be willing to pay for.

Some things that you didn't mention... the roof looks rough in the front. Maybe it's the photo. The basement/crawl space seems to be wet. Am I reading the photos right?

What's up with some of the silly stuff like the like roof gutter on the side entrance. Just has a small hole on the side the jet the water out.

Looking at the ceiling in the stairwell, looks like some water penetration. 

Is the siding asbestos? You might want to cover it with vinyl siding.

@Christopher Phillips

Thanks Christopher - The roof appears to be newer (probably replaced after the leaks inside). The front roof has tree branches on it. 

I'm hoping the siding isn't asbestos, my main concern is pulling the vines off might break off siding and then cause a hazard. I heard that can be pricey to deal with. I need to figure out who is best at handling the vine removal, a landscaping company or siding company.

I do not know if there's any water leakage in the basement or what that might entail. 

It looks like my best comp I have is 385k and was pretty standard looking - same type of flooring, kitchen wasn't high end refinish, bathrooms had basic tile.