Real Estate Investor · San Diego, CA · Member since 2015 · 69 posts · 53 votes
Purchased this 2 bedroom/2 bath condo for $285k. Decided to do a fully furnished luxury rental on this one. We put $40k into the remodel. All high end fixtures...venetian plastered walls, custom speakers throughout, built in Miele coffee system, custom cabinets, concealed dishwasher, toto toilets, hardwood floors, redone bathrooms, etc...
@Euan Arcia Very nice remodel. Just wonder if the 40K is just for updating interiors, bathrooms, kitchen and light fixtures and floor. Or does it cover any major items like HAVAC, replacing windows, any update to electrical and plumbing system? And how big is the condo? If you don't mind, can you share of how much it cost for each bathroom and the kitchen?
So your all in is less than $350K and it can rent for $3500 a month, that is awesome. Congrats!
@Euan Arcia Very nice remodel. Just wonder if the 40K is just for updating interiors, bathrooms, kitchen and light fixtures and floor. Or does it cover any major items like HAVAC, replacing windows, any update to electrical and plumbing system? And how big is the condo? If you don't mind, can you share of how much it cost for each bathroom and the kitchen?
So your all in is less than $350K and it can rent for $3500 a month, that is awesome. Congrats!
The condo is only 1120 sq ft. $40k covered everything including labor, materials, appliances, etc... Unfortunately i don't have costs for each bathroom and kitchen because the price we paid for labor was for everything in the condo.
Didn't have to do anything with the windows because that was covered by the HOA; HVAC was working fine already and we just updated the thermostat w/ a Nest one; plumbing was fine; electrical was fine as well but we did add wires for the TV and stereo system.