Updated almost 6 years ago on . Most recent reply
Time to start shopping
Hi all, I’ve posted in a few threads about my goals and timeline. At this point I’ve secured my lending and officially started the hunt for properties. We’ve looked at a few so far and me being an engineer and project manager, it’s all about the details to me (which can cloud the big picture). Anyways, here’s why I’m reaching out...I used the Bigger Pockets rehab guideline book to help me put together a project estimate spreadsheet where I can plug in all sorts of things. It’s awesome to see a project scope of work and cost estimate develop. Of course, the estimate is only as good as the data being entered.
The areas I’m looking in are generally 1960-1970’s homes. This one in particular has original solid wood cabinets that have been previously painted (poorly done). The cabinets need to be refurbished after ~50 years of use (finish, drawer slides, hinges, hardware, some isolated areas of damage, etc.). It’s about 20 linear feet of lowers and uppers. For rental property I would rather refurbish the existing cabinets and put a new countertop and new backsplash than install new cabinets if the cost savings support it. Anyone have ballpark numbers for cost of refurbishing? Something like 50% of cost of new cabinets?
Ok next question is related to inspections. Besides the general inspection, anyone have advice on other inspections for plumbing, foundation, asbestos, etc. for older homes?