My new Quad: Help me not break my bank

50 Replies

Originally posted by @Randy E. :

@Yuriy Tymoshenko, this was a great deal.  I like the building and your plans for it. I agree with the others that the outside definitely requires some attention. 

I am a little curious about your budget.  $30K seems like a little much for what you have planned.  Is that simply your max and you're not sure you'll actually spend that much, or are you sure you'll spend that much?

 Randy, thank you for the kind words. 30k is my worst case of scenario right now. I am definitely looking to retain as much my cash as possible))

Hi everyone,

I just got a short sale and I'm trying to cut costs as much as possible.  The flooring at the moment is old laminate and tile it has to go its in bad shape. I recently found out you can lay wood vinyl directly on top of existing floors. It looks easy but you have to spread some type of leveler over the floors first which makes me nervous. Has anyone had any experience doing this? 

Yuriy, another vote for Allure.

Recently did 2 tenant move outs and all I had to do was Swiffer the floors. No more carpets covered in drink spills, no more little bits of food buried deep in the fibers, no more calls to get the carpets steam cleaned before the next tenant. Looks great as well.

Allure usually goes on sale twice a year at Home Depot and can be bought for 99c sqft. Sales are usually Easter and Labor day. They don't put every color on sale but I have used both dark and light shades and both look great. 

Coming along

Thank you for the red door suggestion @Carrie Giordano for the doors idea! Really make a difference. I will also open up entrance at the top of the stairs by cutting cinderblock lay. 

@Yuriy Tymoshenko

I have been following this post but didn't see anything for a few months. How is your project coming along. Eager to see it.

Hi Yuri! Looks like you found yourself a nice deal!  Just judging by the last picture have you had the roof checked? Looks to be in pretty rough shape. 

Keep us updated on the progress! 

Hows it going so far? What stage are you in now? 

Hope all is going well. Keep us posted. 

@Daria B. I am done with top two units. I will have a pro photographer taking some shots that I will use on postlets and craigslist to advertise. I will post them once I 

Now I am moving on to bottom two units. My dilemma there is that ceilings are concrete and not too tall (8 feet). I am thinking about using 2X4 nailed to the ceiling and screw a drywall to it. This will drop a ceiling just above 7 1/2 feet which is within Florida Code(7.5 feet in living/bedrooms). But I am also concerned that 7.5 ceiling would seem kind of low for my perspective tenants. What do you think?

 Don't get too burnt out by doing too much work yourself.  I did on our first go around and learned real quick that contractors are much faster, I don't wake up sore, and I can get the same satisfaction by watching the rehab come to life standing on the side lines!

Good luck!

 Ain't that the truth!

@Eric Brandt

I did have to patch a roof in couple of places. But now it is dry. Its not perfect to have a patched roof, but once I think it will do for now. I am really trying to start the money flow with least money invested. I will likely visit a topic of the roof within a year.  

Originally posted by @Yuriy Tymoshenko :

@Daria B. I am done with top two units. I will have a pro photographer taking some shots that I will use on postlets and craigslist to advertise. I will post them once I 

Now I am moving on to bottom two units. My dilemma there is that ceilings are concrete and not too tall (8 feet). I am thinking about using 2X4 nailed to the ceiling and screw a drywall to it. This will drop a ceiling just above 7 1/2 feet which is within Florida Code(7.5 feet in living/bedrooms). But I am also concerned that 7.5 ceiling would seem kind of low for my perspective tenants. What do you think?

Can you leave the concrete and paint over it or do you need to attach drywall to it? 

How about attaching 1 x 3  furring strips to concrete ceiling both glued and screwed.  Then putting 5/8 drywall over so it doeesnt get wavy.  That might take 1 1/2 inch at max which isnt noticeable.  Run any wires in first, and plumbing if needed.

Looks good to me.  Redress any finishes to modern if possible.  Are you replacing countertops? Looking for idiot proof countertop,,,thinking self poured concrete,,,anyone tried that??

Originally posted by @Don Meinke :

How about attaching 1 x 3  furring strips to concrete ceiling both glued and screwed.  Then putting 5/8 drywall over so it doeesnt get wavy.  That might take 1 1/2 inch at max which isnt noticeable.  Run any wires in first, and plumbing if needed.

Looks good to me.  Redress any finishes to modern if possible.  Are you replacing countertops? Looking for idiot proof countertop,,,thinking self poured concrete,,,anyone tried that??

Don, I am just using a stock formica countertop from Lowes($100 for 8 ft run). Quick and looks decent and fetches me my $600 for 1/1 monthly. 

This is my most recently completed unit. Once a unit completed - I am renting it out. Currently I am in the process of pre-leasing units #3 and #4. The other two are already completed and rented out.   

The exterior wall paint is now old and flaky. I am seriously considering repainting a house. Any cool ideas? 

I think you need to read the book on flipping houses and estimating rehab costs by J. Scott

That looks really nice,,good work!!!  How much was there,,,how much did you have to add?

Originally posted by @Don Meinke :

 How much was there,,,how much did you have to add?

What do you mean? Sorry, I didnt quite understand the question 

@Yuriy Tymoshenko what kind of materials will you use for the flooring especially since it will be a rental. What kind of area is the home located in ie: A, B, C? This will determine whether you should use high end materials or not.

Originally posted by @Melissa Gittens :

@Yuriy Tymoshenko what kind of materials will you use for the flooring especially since it will be a rental. What kind of area is the home located in ie: A, B, C? This will determine whether you should use high end materials or not.

 The area there is lower middle class. Lots of young professionals have been inquiring about it.

Originally posted by @Melissa Gittens :

@Yuriy Tymoshenko what kind of materials will you use for the flooring especially since it will be a rental. What kind of area is the home located in ie: A, B, C? This will determine whether you should use high end materials or not.

 I used Allure flooring. I submitted a bid to Prodesk in Home Depot and got a nice discount for 2500 sq ft of it. I am not looking to use anything high end in this property 

Originally posted by @Melissa Gittens :

@Yuriy Tymoshenko how did you go about submitting a big through pro desk? Are the contractors reputable?

The bid was only for materials. I would suggest to compile the list of items that you want to buy and submit them to ProDesk. As long as the quantity is larger than $400 - they will reach to corporate to give you a best deal. The larger the list the better

I actually did the install. Its not hard at all.

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