The renovation is completed, and we have secured a tenant for $1,319 a month via section 8. Occupied and cash flowing!
Here is the Scope of Work completed on this property:
- partial gut rehab
- removed rotted and weak flooring replaced by 3/4 plywood, and cement board
- New tile in kitchen
- replaced GFCI outlet
- Installed new light fixture
- New paint
- New kitchen cabinets
- New countertops
- New water lines and waste line
- New backsplash
- Installed door locks and security side door
- complete gut rehab
- flooring was weak, replaced with 3/4 plywood
- New bathtub, water lines, waste line, new pvc with easier access to rod out
- New wall tile with design
- New porcelain floor tiles
- New vanity with mirror
- New toilet
- New paint
Bedrooms, living room, dining room and hallway
- sanded down flooring and varnish with glossy polyurethane
- 1 bedroom required laminate flooring
- Painted entire inside ceilings, walls, trim and doors
- Some doors were damaged, replaced with new doors and locks
- Installed carbon and smoke detectors as required
- All windows were checked to make sure they open and lock properly
- Replaced all light fixtures (LED light fixtures)
- Replaced all outlets and switches
- Replaced closet doors
- Replaced AC window unit in dining room
- Added an access panel door
- Replaced sump pump
- Repaired laundry tub
- Painted basement floors and walls
- New hot water heater
- Furnace serviced
- Painted the garage with exterior paint
- Patched cracked concrete walkways and backyard
- Replaced front security door
- Tuck pointed all bricks
- Newer garage door
*All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.
*Stated returns and cash flow do not take into account vacancy and repairs that will happen over time.
All properties are free and clear of all encumbrances (such as known claims, court-attachments, adverse claims, disputed ownership, liens, nonpayment of a note secured by the property, pending judgments) and, therefore, has a clear and marketable title. All properties will be closed out with a Warranty Deed at a reputable title company or closing attorney. Property taxes, property fees, and rent will be prorated to the buyer based on the purchase date of the property and the county specific proration procedures to which the property belongs.
Property taxes and other related bills, utilities, and fees associated with the property that are due after the purchase date of the property will be the responsibility of the buyer. Descriptions are purely visual. All information derived from third party sources, including but not limited to property assessments, appraisals, and title reports, if any, is deemed reliable but not guaranteed. All buyers are deemed to have relied entirely on their own information, judgements and inspections of property in making their decision to purchase the property. Pictures of the property contained herein may not be completely current and may not accurately reflect the condition of the property at any future date. Buyer should determine the condition of the property by physical inspection prior to purchase.
Buyer acknowledges and verifies that Buyer has carried out the necessary due diligence to purchase the property. For a complete statement of the terms and conditions of any purchase of the property, please review a copy of our standard Real Estate Purchase Contract.