All Forum Posts by: Phillip Rosin

@Account Closed Up to this point I was not planning on providing washer/dryer units since it isn't generally expected and one more thing to have to maintain. I have considered it, however. One other pain point is that the master bedroom closet houses the water heater. I'd love to relocate that heater to another location. However, again, I'm not sure that's worth the effort. If I moved the refrigerator over, I might have enough room on the opposite side to put a closet there and relocate that heater. Alternatively, if there was a stackable washer/dryer, there would be room there as well. Lots of things to consider, but I keep questioning myself and what is worth the investment. 

More great input. Thanks all. I see one vote for keeping the fridge where it is. I'm not sure about any of the other commitments. I can definitely enclose the fridge either way. Moving the fridge would allow for more counter space and storage. Estimated budget would be under $1,000, mostly diy other than electric.

I agree that the lighting is terrible as well and will absolutely be addressed. Cabinetes will be painted white. Wall colors tbd. 

The current big question, it seems, is whether relocating the fridge will be beneficial, from a refinance and/or better tenant/rent perspective. Cost would not be a whole lot. Just some sweat equity really. Would have a little electrical, of course. Probably have a contractor do that, to avoid any liability issues. I can do all the framing and drywall work. 

Made a few updates to the drawings. Still have more to do though.

A continued thank you to all that have chimed in. 

Yes, the tile floor is quite dated. I'm unsure whether it's worth going over it with LVT or not, but I have considered it. I'll get a better idea once I get in there. LVT will be going into some of the other units where the flooring has been trashed. I used it in my personal house and it was really nice. Lifeproof was my choice for that.

As for the sketches, I just quickly put them together on my lunch break. I'll play around more with them later and try for a more completed look. I also like the idea of encasing the fridge.

I have considered granite tiles in the past. Are you referring to the large pieces that you order, or just just the smaller granite tiles you can pick up at HD installed with an epoxy grout? In my personal house that I sold not too long ago, I used IKEA EKBACKEN countertops (concrete look) and I liked them. They were cheap, easy to work with and looked nice. I've never put hot pots or cut directly on any countertop before and, technically, if a tenant causes damage, it comes out of their deposit. It wouldn't cost me more than around $200 to install those in each unit and would be a fast job. However, if I'm looking to refinance, I'm unsure how ROI would compare between the options.

I should also add that I want to refinance soon and so maybe that could sway some of the decisions. I'm hoping to get the valuation high enough so that I can refi with the current balance and still meet LTV.

Jumped onto my trusty 3d software for a quick visual. Here is what it might look like if the refrigerator was relocated next to the laundry. Wouldn't be a lot of work in all honesty, but not sure if it would be worth the effort? It would make it seem a lot more open. I would just have to see how it makes the living room look afterward. 

Thanks for your input Theresa. Yes, some paint and new hardware can make a huge difference. I'm really enjoying all this great feedback.

To all, if cost is not a lot and it wouldn't take much time, would you consider some layout changes, such as what Johann suggested? 

Thank you all for the feedback! I really appreciate hearing from different perspectives. To clarify, this is a buy and hold rental, not a flip. The flooring in this one is tile and will likely remain that way. 

The neighborhood is what I would call a blue-collar B-minus, so most likely laminate countertops would suffice, as an example. However, with that little counter space, I'm not sure how much of a difference it will be to go with granite. I will have to wait until I get into the first one to find out. 

With the goal in mind to do as little as necessary, I also want to ensure I get good tenants and so am willing to do a little extra, to set this property apart. If that means putting a stainless package in there, I'm fine with that. I just don't want to spent the 2k to find out it would have rented for similar with the white appliances, just cleaned up. 

I have the tools to do just about any modification and I will be moving into the unit while I get it ready. This gives me an opportunity to do some extras for very little money, which may yield some good returns or, at the very least, get a better tennant in place. I guess that is where I'm really undecided. 

@Johann Jells that's an interesting idea. I'm going to give that some serious thought and see how it measures out once I get in there. Thank you for that idea!