27 Days and $30,000 Later my Rehab is Complete!

[Scott Dixon]

Just completed a Airbnb conversion where I took a small 600 sq ft 2 bed / 1 bath student rental and went through it top to bottom to get the finishes up to a level where it would make an attractive airbnb for short term tenants coming predominantly from the University of Illinois (UIUC) which is 2 blocks away. 

Rough Numbers

Timeline: 27 days

Labor: $14K

Construction Materials: $10K

Furnishings (Including Appliances): $6K

Total Rehab Cost: $30K

I actually documented the rehab in 3 videos which are on youtube if you are interested.  You can just click on my BP profile and go to my Everyday Home Repairs website where you will see the 3 videos stepping through "My Plans," "Progress!" and "Finish Line."

3 Videos on Everyday Home Repairs Website

So now it is time to put the unit to work and see if the time and money invested will provide my targeted 20% cash on cash return. I will post updates as we progress to give a little more information if this rehab and additional time commitment to manage was a good idea or not.

[Patrice Penda]

Thanks for sharing @Scott Dixon