All Forum Posts by: Jen R.

We rehabbed a house a couple of years ago with severe pet & smoke odor. In some rooms, we actually had to rip out drywall and subfloor because the urine had soaked through the subfloor and into the joists. Any remaining undamaged subfloor we primed with shellac (BIN) before putting new flooring down. Two years later and no issues. Good luck!

@Jonathan Johnson - it's been awhile, but I believe the last refinishing quote I received came in around $450, and if I remember correctly that included the tub and surround. If you do go the refinishing route, I would highly recommend having it done professionally - it will cost you less in the long run compared to the DIY kit. However, we have never attempted to refinish a tub that was as far gone as the second tub you have posted. Conversely, we have a contractor replacing a tub now for $750 (that is removal of old tub, installing new fiberglass tub, and hanging hardiebacker). We tile the surround ourselves, so all in all it should come in around $1k. 

We have refinished cast iron tubs before when they are in salvageable condition (cracking and some chipping, but not as severe as the last couple of pics you posted). It's not too hard, but the DIY kits don't hold up that well after a few years, in my experience. And once you consider paying someone to refinish professionally, it's almost as cheap to just replace the tub. 

Is this a flip, or a rental? 

@Joshua D. - sounds like a pretty good problem to have! If you are taking out lines of credit, but you feel like you may be over-leveraged if you use the full line, why not only use the LOC up to whatever amount you feel the property is actually worth? Or, make sure you have extra cash in reserves, so that if you ever end up in a situation where you have to sell an underwater property, you can bring cash to the table to make up the difference.

A few questions: Can you post the dimensions of the rooms? Is there enough room to create a hallway to bedroom #3, and turn bedroom #2 into the small bedroom/office? Is there a closet existing in bedroom #2? And lastly, what is the norm for the neighborhood? I would look at both 2 bedroom and 3 bedroom comps, calculate an ARV for each option, and then determine what renovation provides a higher profit potential.

@Steve Vaughan - are you saying that by changing the wording from "pet fee", you then charge your "animal" fee when renting to someone with a service or emotional support animal? I'm not a lawyer, but I'm certain that any extra fees are disallowed for these animals, as they are considered to be equal to medical equipment.

We also have SFR's and tend to allow pets - definitely don't reduce any fees; pets will cause extra wear and tear on the property no matter how well behaved they are.

A couple of things to note, however: be careful about calling your pet fee a "deposit". Any deposit can imply that it is refundable at the end of the lease. Also, in Ohio, we have to pay interest on any deposits we collect that amount to more than one month's rent (so, if I charge a one month security deposit, and a half month pet deposit, I would have to pay interest to my tenant on the half month deposit). Not sure what your local laws are, but something to look into if you haven't already. 

Instead of an extra deposit up front, we charge a monthly pet fee that is added to rent to cover the additional wear and tear. Typically for us this is $30/pet. Our quality tenant applicants have never balked at the fee; they know it is part of the deal when renting with pets. 

Saw this on social media; views on the Zillow listing are over 1.3 million. I guess if the marketing plan was to get as much exposure as possible, it seems to be working! 

Sounds like you're on the right track for a house hack - I would do the minimum rehab required to get some roommates moved in and covering your PITI. Then you can do other upgrades as needed along the way. Have you looked into adding a second bathroom? If the comps support the cost to add, might be a way to push your appraisal higher when you go to sell/refi, and perhaps get more rent from your roommates in the short term.

As others have stated, nice job taking action and getting started, and good luck as you venture into the world of being a homeowner and a landlord!

I agree with @Ian Reeves - the numbers look way too slim for a flip. Have you determined what the house would rent for? And what your monthly expenses would be? Or, if you wanted to live in the house for a season, could you cover your expenses by renting out the other bedrooms?