All Forum Posts by: Mike B.

Just say “another applicant was more qualified and just put down a deposit and 1st months rent. Thank you anyway “

@Scott Dixon apt looks great!  Curious if you've used butcher block countertops in rentals before and how did they hold up?  I have some low end rentals I was debating on using this and sealing it with a waterproof sealer. Thoughts/recs/comments on this?  Thanks

Also would like to add a note on IKEA cabinets.. thankfully never ran into water issues. On assembly though, i always used an adhesive glue (eg liquid nails) on panels assembled together. Also in sink cabinets I caulk perimeter with silicone caulk just in case of leaks. My thought is the water couldn’t get into the seams and separate the melamine yet keep it on the surface. Haven’t ran into water issues though yet..

Also for flooring use a good underlayment padding. The nicer ones have soundproofing built-in so you install your floor above them and that way tenants don’t hear the others above them walking around

Patrick Martone I pay, on average, for several homes I’ve done similar to the one you are inquiring about, approximately $8500 for high-efficiency HVAC (central heat and air) fully installed with new ductwork. That’s a 95% AFUE gas heater. Ac is basic. If you have all the ductwork already it should be about 6500 for the main unit coil etc. installed.

I have used both IKEA kitchens and RTA cabinets. I have used IKEA kitchen cabinets shaker style soft clothes etc. I symbol them and install them myself. On my recent flip I found RTA cabinets assembled and delivered for the same price as IKEA cabinets plus it save me the time of assembly. If you can find a good RTA supplier I would go with that. My recent RTA supplier cabinets were made of plywood sides and back and a solid wood front. On a 10 x 10 kitchen with 40 inch uppers, I paid about 2200 for cabinets. Then I just installed them myself. Even having a contractor or handyman install them is not difficult and is relatively inexpensive

Thanks Ryan Murdock totally agree, great point and I’m glad to hear other people are on the same page. Spend a little more up front but get less hassles, more income and better tenants... totally worth it

Just curious what others consider, when evaluating a rental property for rehab.. how much to spend $$$ (more then basics) vs scaling back and doing minimal. I ask because my action plans have always been to update roof, water heater, or anything that may fail within 3 years. I also do kitchen and bath updates, paint flooring etc. basically make it cosmetically really nice to get top dollar in my market and also be able to do cash out Refi. In doing so, I’ve had better tenants, less headaches and maintenance. One way to look at an active scenario I’m in. Just bought a place for $125K (3/1, 1100 sqft philly row). As is.. could do paint and minor stuff for a few thousand and rent it for $1100. OR.. spend up to $20K (central air, floors paint electric upgrades, and kitchen bath and roof all new) and easily collect $1500-1600/month (and yes I can still cash out Refi and pull out all my money to invest in another). I guess my question is in this case.. would you spend the extra money to make a few hundred extra per month? I would.. and I usually do everything up front so I have better quality tenants and minimal work afterwards. But What are your thoughts on this? Would be interested to hear others opinions or personal experiences. Just want to be sure I’m considering all options in my REI ventures. Thanks in advance!

@Jeff Filali - when you sell FSBO, how/where do you list? Meaning do you pay an online site to advertise this on MLS or do you do FSBO sites and Craigslist only? Thinking about doing this in the future and would be interested in more info. I have a title company already that can facilitate private deals; just interested in what brought you the most foot traffic.

Also in selling FSBO, how have you dealt with other people who want a realtor to represent them? Do you pay the realtors fees?

Thanks!

Chris Miller I’ve had similar issues before. Pest control person should not just set traps (which you can do) but utilize the commercial killer which are large tablets. They last longer and help kill the mice family (if family members present). Yes seal up cracks and holes with cement if possible. Larger holes, I’ve used a can of spray foam then cement over that. Can also use the cement/silicone caulk (forgot the name of it) for small cracks/gaps if you only have a few.