All Forum Posts by: Barbara G.

Thanks Steve Babiak.   Oh!!  It's only June 2, 2015.  I just found 14 days.  Well apparently the renovation has not been going as slow a I thought. We have only been renovating 35 days

Sorry with cell phones, and calenders all over i still managed to do this.

I also wanted to say, as Steve pointed out that because the Garage is unheated,  we have decieded to run a little heat into it while we are renovating it.  We are also putting in 2 new garage doors which might also  improve the drafty garage

Tuesday,  June 16, 2015.  49 days since we closed on this Property.

Renovation has been slow?

We bought $3,000 worth of supplies at Home Depot. We opened a no interest for 12 months Home Depot credit card and put the $3,000 on that card. So far we have spent approx $12,000.  

Over the week end we opened a Lowes credit car and purchased $6,000 worth of merchandise.  We reached the limit on our charge and spent an additional $300 in cash.  So far we are into our renovation for approx $18, 300.  We have estimated our complete renovation to cost approx $30,000.  We bought 2 sets of kitchen cabinets and new formica counter tops, and all our appliance plus dry wall and light fixtures and toilets and vanity tops and new tub surrounds.  We should be finished by the first week in July.  The carpenter contractor, who is a friend  (and expensive) will be coming Friday with a worker to put up the dry wall and put in the kitchen and counter tops and other odds and ends.  We think he will be there for 3 or 4 days.  He charges us less, because he is a friend and because we refer jobs to him but its still alot of money probably $500 a day  and $150 a day for his worker.  We will be installing the toilets and vanitys and tops and bath surrounds, in addition we will be  installing some of the kitchens. We will be finishing up with the Painter and the Drainage man, who will  be extending the back yard with a retaining wall made of Railroad Ties.   The roof also needs a few shingle that have to be replaced and we need 2 new  Garage doors.  

Hi William, 

How are the roof estimates progresing?  That's what happens with renovation budgets they always seem to go up.

Can you reccomend your handyman and or your Painter to us.  We started our Waterbury renovation about the same time you started your renovation.  I think you are running ahead of our time frame.  We might be finished the beginning of July?  Your rent roll is higher then our Duplex and we also have to replace  all the appliances and the complete kitchens .

Good Luck on getting a more competitve roof estimate,  Hopefully Eric Munson's reccomendation will be a great deal less for you.  Eric Munson also said that the Renovation process is "Short Term Pain for Long Term Gain" so from his mouth to God's Ears.

Great Job from start to finish.  You are very good at what you do and a wonderful asset for BP.   Way to go Michael.  What next for this property?  Is this a flip or a refinance?   The landscaping  is very cute

Right on Debbie  Good for you.  I can sleep better thinking you got $30,000 back.  What happened to the additional $11,000.  What reason did they give you for not returning everything???  Did you have to say it was OK and settle for the extra $10,000?  Can you take them into small claims court for the balance?  Or is it just all over?

Now lets hear from you about your Real Estate career.  I know you will do well once you get started.

Barbara

Thanks Steve.   We will do that but the house was empty and the bank did not winterize anything so all the pipes, in the bathroom and garage and kitchen froze, in addition to the garage.  We had a bad winter here and the bank did not attend to anything.  

We think we have all the leaks repaired.  There were approx 12 damaged pipes.  One more time to check the pipes for leaks.  The pipes all froze, including the water meter, this winter.  It caused the garage ceiling and the kitchen ceiling to collapse.

We have added 2 boilers to the renovation at $366 each for a total of + 688 Total  = $8,848 + The town installed a new installed new water meter +$140 = which Totals  $8,988.00  We added the boilers, or replaced them because they are close to the end of their life.

We bought $3,000 worth of supplies at Home Depot.  We opened  a no interest for 12 months Home Depot credit card and put the $3,000 on that card.   So far we have spent approx $12,000, not counting Gas and transportation.  We discovered that the water leaks were all coming from inside the house and the clogged gutters ($180,00)  and not coming from the water running down into our house from the hill in back.    So although we don't need the retaining wall in the back for the drainage problem we still decieded to dig out the back yard and put a retaining wall there so the renters will each have a small back yard area to use. Unfortunatley the retaining wall and the dig out will cost approx $2,500.00.  When the drainage man comes with his equipment we will ask him to pull off the 2 small wood decks  in the back, and we will replace them with cement patios.  

We closed off the 2 faucets in the back because we pay the water for this house.  

Next we will install the toilets, vanities/ faucets and tub sorrounds.  

The electrician has to do more work, The carpenters have to do their work.  The painter has to come in.  We have to install the kitchen cabinets, and the appliances.  We have to replace the garage ceiling and the kitchen ceiling and put a dividing wall in the garage.

We have done the general contracting ourselves.   We bought all the equipment and supplies and done the plumbing ourselves which includes installing the toilets/vanitys/counter tops.  
We also will do the Management which includes renting the place, and fielding problems. 

Today will make 26 days after closing that we are rehabbing this duplex.

We figure this will be a 3 month rehab.

We have added 2 boiler to the renovatipn at $366 each for a total of + 688 Total --$8,848  + The town installed a new  installed new water meter +$140 = $8,988.00

Today the town replaced the water meter and charged us $140.00

The electrician finishing up the rough electrical.

We are still repairing the leaking water pipes.  There are approx 5 more broken pipes.  We also have to move one boiler over to the other side of the garage

Today we will shop Home Depot for supplies.  Home Depot has a charge card special with no interest for one year.  

We are doing another Cat deodorizer painting of the cat odder bathroom floor.  The odder is  getting better but no cigar

You can just go into a Box store like Home Depot and go o each dept.  Like the flooring dept and get all your answers there amd'or the counter top dept and the Paint Department

If it is 2 tickets for $197.00?   Can you sell one ticket for $100.00?   Just mke sure you do not buy their other programs that they will try to sell you.  It's not a lot of moey and if you don't know very much about real estate inveting  it might be the push you need.  Take an interested friend with you.  Or you can go to one of their FREE one day seminars and see what you think instead.  Just make sure you do not buy anything from them