Knoxville, TN Full Gut w/ addition

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Knoxville, TN Full Gut w/ addition

Christopher B.
Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes

Hey y'all, I purchased this gem recently and decided to post it here as a diary, both to share my experience with the community and to more selfishly use it as a learning tool to help improve my business. I'm currently reorganizing my business and the processes used to acquire, organize, and manage my rehabs in the most efficient manner. Since this is a larger project I know it will serve as a great reference tool for me once the project is complete, I hope it can be of some use to others. 

 The house is a 1925 colonial that has been sitting vacant for at least 10yrs.  The house is being gutted to the studs, there will be a 2 story addition on the west side that includes a 2 car garage and a 500sf master suite on the 2nd floor and a porch conversion on the east side. There is also foundation and structural repairs to be done. 

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  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y
    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y
    0Reply
  • Chris Eaker
    Buy and Hold Investor · Knoxville, TN · Member since 2013 · 450 posts · 270 votes
    9y

    @Christopher B. Looking forward to following this one.

    0Reply
  • Darin M.
    Investor · Knoxville, TN · Member since 2013 · 124 posts · 44 votes
    9y

    @Christopher B. Subcribed, now where is my chair, this is going to be good.

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    Ok, I'm going to try and update this at least once per week. A bit more info.

    Rehab Estimate:$165k (more on this below)

    Timeline: 4 months

    We've completed demo and are ready to begin the structural repairs and additions. We've been waiting for the city engineering to approve the plans. The delays and additions from the city has already cost me an extra $3k and delayed my project for what will be a few weeks as my carpenters had to move to another project in the meantime.

    The $165K rehab estimate is a conservative budget that has contingencies for numerous phases of the project. A rehab like this can get out of hand quickly as every inch of the house will be touched. I also have a large trim budget as we are going to reproduce all the original trim of the house along with some upgrades. 

    The first phase will be the structural repairs which consists of:

    • Replacing the main girder beam due to termite damage. This includes digging and pouring concrete posts pads,and installing steel jack across the basement.
    • The rear foundation wall is being removed. A new footer poured and block laid. This and the girder beam will require the building of temporary walls.
    • Due to foundation movement and water/termite damage there is some sage in both the first and 2nd floors of the house that we will jack up in place before we set the house back down on the new foundation and piers
    • The basement is half dug-out,half crawl space, so we will build a block retaining wall across to prevent any further wash-out from the crawl space.
    • The brick front porch is falling away from the house, since it's tied into the foundation it is pulling the house with it. We will brace the porch roof, demo the brick, do repairs, and rebuild a new wooden porch.
    • The concrete porch that sits under the old sleeping porch on the east side of the house is collapsing and bringing the sleeping porch with. We will jack the sleeping porch-up and then demo the concrete porch below. After a new footer, block, and brick the porch will be framed and tied-in to the existing house as an addition which will become a powder room off the LR and a dining area off the kitchen.
    • There are numerous areas of tuck pointing and brick repair including the chimney. The two additions will be weaved into the existing foundation for a seamless look.
    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y
    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    You can see the main girder beam on the right. It's termite eaten and the original posts have fallen, the cinder blocks stacked straight off the dirt is all that has been holding the house-up.

    Here we've began clearing for the block retaining wall. Some kind of critter has created tunnels through-out the crawl space so we will backfill well after the wall is constructed. 

    Surprisingly the original retaining wall from 1925 that you see on the left is in good shape and will stay. The window seen in the distance is from the original coal chute. 

    Jacks have been added over the years to compensate for the failing foundation here.

    Outside view. At the window you can see the foundation has slid at least a full brick width inward towards the basement. This entire wall will be replaced

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  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    You can see the main girder beam on the right. It's termite eaten and the original posts have fallen, the cinder blocks stacked straight off the dirt is all that has been holding the house-up.

    Here we've began clearing for the block retaining wall. Some kind of critter has created tunnels through-out the crawl space so we will backfill well after the wall is constructed. 

    Surprisingly the original retaining wall from 1925 that you see on the left is in good shape and will stay. The window seen in the distance is from the original coal chute. 

    Jacks have been added over the years to compensate for the failing foundation here.

    Outside view, l

    1Reply
  • John Morgan
    Investor · Knoxville, TN · Member since 2016 · 47 posts · 86 votes
    9y

    If you don't mind sharing what did you buy it for and what are the comps on it? Look forward to the outcome. 

    0Reply
  • Chris Eaker
    Buy and Hold Investor · Knoxville, TN · Member since 2013 · 450 posts · 270 votes
    9y

    @Christopher B., are you actively seeking out properties where you have to jack up the house now? :)

    0Reply
  • Kevin Dyke
    Real Estate Agent · Knoxville, TN · Member since 2016 · 6 posts · 2 votes
    9y
    Good luck, Chris! I remember that house! I tried to get it a few years ago. I'll probably stop by and say hey one day soon!
    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    @John Morgan ARV IS $300K. I'll provide a financial breakdown after I sell the property.

    @Chris Eaker haha yes, I have a glutton for punishment it seems. These foundation repairs continue to find me, I put 2 houses under contract last week that also will require foundation work. 

    @Kevin Dyke Yea, I heard through the grapevine that both you and Anthony B. almost locked it down a few years back. We're the raccoons still living there when you looked at it? 

    0Reply
  • Sam Harrell
    Real Estate Agent · Knoxville, TN · Member since 2016 · 21 posts · 5 votes
    9y

    I am excited to keep up with this. I am leading some rehab myself on a property that the firm I am at manages. I am hoping that too much damage does not pop up like you mentioned because we will be tackling lots of different aspects of the house. What area of Knoxville is this? It looks like there is some land on the property.

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y
    Originally posted by @Sam Harrell:

    I am excited to keep up with this. I am leading some rehab myself on a property that the firm I am at manages. I am hoping that too much damage does not pop up like you mentioned because we will be tackling lots of different aspects of the house. What area of Knoxville is this? It looks like there is some land on the property.

    The property is in Fountain City. The house has a great lot,1 acre of nice flat property which as you know is rare here in the hills of East TN. It sits next to a small church on one side that has about 3 acres and the neighbor on the other has over 2 acres so it's got good privacy for a neighborhood setting. 

    Front yard 

    Backyard 

    Privacy Fence 

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y
    Originally posted by @Kevin Dyke:

    Good luck, Chris!
    I remember that house! I tried to get it a few years ago. I'll probably stop by and say hey one day soon!

    Give me a shout Kevin. The house you completed down the street is one of the comps we're using, I'd be happy to meet you at the house and get your take. 

    0Reply
  • Linda S.
    Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
    9y

    @Christopher B.

    I don't know who is doing your demo, but wow!  I'm impressed with how clean that place is when it's gutted!    This is going to be a gorgeous house, can't wait to see what you do with it!

    0Reply
  • David Freestate
    Real Estate Investor · Knoxville, TN · Member since 2017 · 7 posts · 7 votes
    9y

    @Christopher B. Great idea- looks like an interesting project! Great to see people improving the community and breathing new life into old houses.

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    @Linda S. Thanks David. I love old houses and when I get the opportunity to tackle projects like this I generally jump on them. 

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    Got approval from city engineering last Wednesday and got started on Thursday, I feel we've had a productive 4 days, here is a breakdown of what we've got done so far:

    • completed demo and site prep
    • braced the house for foundation repairs
    • replace the seal plate and band joist around half the house
    • dug and prepped footers for concrete pour on Thursday of this week 

    Our goal is to have the structural and framing portion of the project finished in 3 weeks but we've given ourselves 6 weeks for weather and contractor delays. All subs are slammed right now and spring is a very wet season here in East TN. 

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    Tore off the carport roof on left, front porch, and patio on right. Contemplating if I want to remove the aluminium siding or not. It's in a great shape and has an 8" lap vs 5" if we go with vinyl. Though the cedar shake below is in good shape from what we've seen and I'm leaning towards exposing it and just doing repairs and painting. 

    Braced old sleeping porch above, removed concrete porch and foundation; have dug for footer.

    Backside of house. Foundation has been demoed to corner. Repairs to the band joist started here. Footer dug. The house on this corner has 2 walls underneath as well as the bracing seen here holding it up. 

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    Footer for garage addition

    This beauty was covered with a solid layer of plaster. Probably the shallowest firebox I've ever seen. 

    T

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  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    Alright, it has been a busy couple weeks but we've made some progress and I signed the contract to sell the house for full asking price this past weekend. WOO HOO! The buyers wanted to make some changes but the city would not allow any changes to the approved designs. I figured this would be a deal breaker but they came back the next day with a full price offer. I love selling the house for my desired price but I've never pre-sold a house this early so it will be interesting to see how that goes. I laid out some ground rules upfront and the buyers as well as their agent seem great so I think it will go smoothly. 

    Progress: The footers for the additions have been poured and block laid. The framing for the addition under the original sleeping porch has been complete and everything but the roof for the 2 story addition has been completed (my pics are a few days old though). So the house is now sitting back down on a foundation again which is always a good feeling. 

    It has rained at some point about everyday for the past 5 days as we are entering spring rain season here in East TN, so my framers have been bouncing between our project and a new construction project as weather has dictated. We've got the brick and framing scheduled for completion by next Friday, after inspections we should be ready to begin MEP on the 17th. This will put us at about 4 weeks for the two additions, structural repairs, all framing, and all masonry. I'm pretty satisfied with that and project a finish date of mid-June, hopefully sooner. 

    Budget: We're $2,600 over budget which considering the scope of the project and the fact it's a 92yr old house I'm not torn-up about. However, about $1800 of this I feel should have been included in the original SOW. This is the first project with this GC and there has been a couple miscommunication's and ultimately it is my fault for not making sure items got line-itemed in the final agreed upon SOW. We've improved our communication and have taken extra steps to clarify no more slip-ups happen. 

    Lastly, as you can see from the pics we uncovered the original cedar shake siding which is in excellent shape. I've decided to install cedar shake on the rest of the house to match. This should look great and hopefully save a little for the budget as I budgeted for all new vinyl siding on the entire house. 

    Coming along. Sadly we must remove the chimney at the roof as it's in terrible shape and too costly to rebuild

    Garage addition

    Looking into garage door. 

    Bad picture but I'm in the dining room looking into what will be a short hall and the powder room

    0Reply
  • Matthew Taylor
    Flipper/Rehabber · Memphis, TN · Member since 2014 · 39 posts · 30 votes
    9y

    @Christopher B. this is incredible. Keep up the good work. Hopefully you can continue to minimize that budget variance. Interested to hear more. 

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y
    Originally posted by @Matthew Taylor:

    @Christopher B. this is incredible. Keep up the good work. Hopefully you can continue to minimize that budget variance. Interested to hear more. 

    Thanks Mathew. I'm not happy about the overage but have a few line items I can trim if needed.  

    0Reply
  • Christopher B.
    OP
    Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    9y

    Quick update. Been too long. Rain has slowed the project down a bit. We also lost our plumber as he decided he only wants to work on new builds. A bit frustrating after 4yrs he left us holding the bag here but it happens in this business, just have to roll with the punches. It will be 2 weeks before we can get another plumber in the house. We're moving forward with HVAC and electrical as it would have turned into a 4 week delay as their schedules are tight as well. I don't like doing things out of order but we've been mindful of plumbing locations so hopefully this wont cause any issues for the new plumber in a couple weeks.  

    Even with the delay we're still getting some things knocked-out. Framing has been done. HVAC rough-in has been done. The garage concrete has been poured. We have cut the drive-way in and laid the base layer of gravel.  The roof and brick will be completed this week. The windows and doors will be on-site in the next week for installation. After the brick we'll waterproof and back-fill the foundation and do some yard work while we have the skid steer on-site. 

    Once we get the plumbing rough-in complete it should be a pretty smooth ride to the finish if I can keep the schedule balanced. I'll update in a week or so as things progress.  

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