All Forum Posts by: Jason Wade

Hey @James Hong Welcome to BP! I see Alabama has been mentioned, so I'll toss my hat in the ring for Birmingham, specifically. We have great prop prices, high rental demand, some of the lowest property taxes in the country, low cost of living, and good jobs market. It's much more an SFR market than MFR.

In regards to timing, that's a tricky one because it can be different for everyone. The simple answer is 'now' because putting your money to work sooner rather than later is typically the best plan (if you're financially prepared to do so). More specifically, tenants tend to want to be housed before school starts (if they have kids) and during the holidays. People tend to move in the spring and summer if they have the choice, and people want to be stable during the colder months and during the school year. That being said, you have people moving all year round, so your primary focus shouldn't be timing, it should be finding a team you can trust. Jeff is absolutely right - an otherwise good investment can be ruined real quick if you have the wrong people on your team. Focus on finding a quality team (turnkey or self-assembled, whatever you prefer) as your top priority.

Best of luck!

Clayton

Assuming a licensed contractor in the DC area.  Contractor supplies labor and materials.

And assume a 5' x 3' tub and three walls 8' high (6' of tile)...  That's about 76 sf of wall board and tile.

- Wall Board:  $200-400 labor and materials

- Tile:  $50-300 material, $350-500 labor ($400-800)

- Tub:  $300 material, $100-200 labor ($400-600)

- Diverter/Hardware/Plumbing:  $100-250 material, $100-250 labor ($200-500)

- Grout/Misc:  $100

So, depending on specific contractor and specific finishes, you're likely looking in the $1300-2400 range.

If they do a good job, $1500 (including material and labor) seems very reasonable for this area.

You can certainly get it cheaper if you source you own materials and hire some hourly day laborers...

No permit required for tub/diverter installation?

Wow, I posted this thread over 5 years ago lol...  oddly I can't remotely recall the project.  

Note to former self.  Tub and tile refinishing.  If it's a high end flip by all means go in and rip the old tub out and retile.  On a mid level flip spend $300 on having the tub and surround refinished.  

Where in Maryland? 

GC or sub-contracted?  

Permits or no permits?  

What specific scope of work?  

What level of finishes?  

What type of contractors (big company, day workers or in-between)?

Not specifically on your Poll list, but I purchased my first rental with a FHA 3.5% down payment.

@Joseph England looks amazing!  Great job, i will be following.  My partner and i are also getting into renovating.  Any advice on getting a good contractor?  

@Kristopher Hanks @Monte Reed I don't mind at all! I welcome the support!

@Andy Gross That is a very good question. In Baltimore putting in a second bathroom is a great way for you to add that second bath and not take up space in the more open floor plans on the other floors. In Baltimore due to the shape of these row homes, finished basements with full baths are very welcomed.