All Forum Posts by: Mike Haro

All of my rentals have been complete gut and rehab projects. The majority have been 2 beds /1 bath, although the square footage varies anywhere from 600 sq/ft to 1000sq/ft. I usually act as GC/ project manager and I've been averaging $12k to $15,000 per unit. This does not include any exterior work. If it were me and funding was not an issue I would rehab all at once. However, if you must go unit by unit then I would recommend rough-in all your plumbing first. I assure you it is a giant pain in the neck when you are rehabbing a unit and suddenly realize that you have to run a plumbing ventpipe to the roof and the unit above you is already rehabed and occupied.

I agree with Anish, it is not required but it is recommended.

I think that it's a reasonable request. I personally always have the carpets cleaned when I turn over an apartment.

Thanks for the responce Don. It is possible to fit in a tub provided that I increase the square footage of the bathroom. The best way I can discribe it is the bath room is in the shape of the letter "L". The old tub was stuffed into the "toe" part of the "L". If you were facing a tub with the length of the tub going from left to right only 20" were exposed to enter and exit the tub. The remaining 40" were stuffed into the alcove. I could increase the square footage by reframing the room and giving up space in the kitchen which is on opposite side of the bathroom. By doing this I would be changing the shape from a "L" to a rectangle.

I'm currently rehabing two 1 bedroom apartments and I'm undecided on what I should do with the bathrooms. Both bathrooms are identical in size and they use to have a tub with out a shower. The old baths were built into an alcove of roughly 40" long by 36" wide, so only 20 or so inches were actually exposed to enter/ exit the tub. My thoughts were to install a 36" x 36" shower in place of the tub. It is possible for me to bump out a wall to fit in a tub provided I relocate the bathroom door. My question is this, is it worth it to make the necessary changes to accomodate the tub/shower or should I just install the shower? Will the lack of a tub have a drastic effect when showing the units? This is the first time I ran into this issue as all my other unis already had full baths. Also, these units are in low income areas if it makes a difference. This is the 10 cent version of the story so if more input is needed let me know. Thanks.

If its a long stairway (more than 12 steps) i like to use commercial carpet on the stairs. If there are less than i use commercial floor paint. My reasoning is when there are many steps people tend to hurry down them faster and to me carpet adds better traction so I feel that I'm protecting them from themselves.

Although I didn't reach all my goals for 2011 I must admit it was still a pretty good year. I picked up a total of 11 units which doubled my portfolio. My goal for 2012 is to complete the rehab of the 7 vacant units and getting them leased out.

Around 2 months for my residential units and 2.5 for my commercial property.

Be sure all coraspondence is done through certified mail.

I have to agree with Gregory's responce. Whether you were looking to unload the lot for what you have in to it or trying to make a buck, a joint venture is your best bet.