70 Year Old Rental Property Renovation Dairy (Pictures)
I've recently purchased a 1950 three bedroom, one bathroom 972 sq ft single family home. We paid $67,500 plus $1,600 in closing costs for the place. Experience from our first rental, rent will range from $1,100 to $1,200 plus utilities. Our renovation budget is $40,000.
To evaluate the rental property I've used the excel spreadsheet found here in the MMM forums: https://forum.mrmoneymustache.com/real-estate-and-...
Here is some pictures of the properties exterior:
Front Door:
Rear Door:
Side View North
Side View South:
We're modelling the exterior renovations off of this picture. Ordered similar coloured siding and stained wood shakes to install, instead of extending the roof and adding timbers on the front deck.
I'll post pictures of the interior and a breakdown of the $40,000 renovation budget soon.