Before and After Video of Rental Property Number 8 Rehab

27 Feb
Before and After Video of Rental Property Number 8 Rehab

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rental property number 8The repairs are complete on rental property number 8!  For more information on rental property number 8, the details of the purchase are here.  I bought the home for $97,500 with the seller paying $2,000 in closing costs.  I was hoping the home would rent for $1,200 or $1,300 when I purchased the houses and now I am thinking I may ask $1,400 a month for it.  We will see if I am being a little too aggressive with the price, but there are very few homes for rent in the area.

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* Made $70,000 from rentals in 2014

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The before video of rental property number 8

Here is the video of the property before we did any work to the home;  Rental property number 8 before the rehab.  The house was not in horrible condition, but needed paint, floor coverings, light fixtures, drywall repair and we added a fifth bedroom in the basement.

The after video of rental property number 8

Here is the video of the property after the rehab; Rental property number 8 after the rehab.  As you can see we painted everything, put in new fixtures, refreshed the kitchen, put in new carpet, added the bedroom and did a few more things throughout the home.

Renting rental property number 8

We are going to list this home for $1,400 a month in Craigslist, post it on Facebook and see what happens.  I am hoping we can get it rented quickly; I know there are many people looking for rentals in the area.  I am also listing rental property number 9 for $1,400 and it looks like our tenant for rental property number 6 is moving out and I will post that one as well.  It was rented for $1,300 a month and I think I will post it for $1,400 a month as well.

Moving forward with my rental properties and fix and flips

Rental property number 10 is under contract and I am continuously looking for more properties.  We closed on a fix and flip yesterday that was left over from before I took over the business from my parents.  I still have one fix and flip from before I took over the business that we are listing that we are listing next week.  The fix and flip that I wrote an article on here is finally ready to go and we are going to list it today.  Two more fix and flips are being repaired and another that was included in this post is under contract and set to close in a few weeks.   I am still looking for more fix and flips as well!

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13 Comments on "Before and After Video of Rental Property Number 8 Rehab"


Guest
Jake Humbert
1 year 1 month ago

Hi, Mark! I have enjoyed reading several of your articles after just finding your site tonight. Do you know of any good portfolio lenders in the Denver/Littleton area? Thanks for your time!

Guest
1 year 1 month ago

Hello Mark!

Great articles, very inspiring. I have a ton of questions.

I’m from PA. I bought a duplex back in May 2012 for $154,000 cash. I rented out the 1st floor for $850/month and my wife and I live upstairs (2nd floor). My wife and I want plan to buy more properties and have money work for us and not the other way around. I managed to convince my wife that we should buy another investment property instead of buying a single family house for ourselves. We want to buy another investment property(duplex or triplex) and rent out the 2d floor in our current duplex.

We are currently looking for a 2 bedroom apartment to rent while we buy properties and build our assets/wealth. I don’t have cash to purchase another property and I wanted to know if using a Cash Out Refinance was a good idea since I have equity and no mortgages.

Guest
Lucero Sanchez
1 year 6 months ago

Hello Mark my name is Lucero from AZ I saw your post on Biggerpockets.com but I was unable to comment there, so I’m leaving it here 😉 Great job it looks really nice! my husband and I have a goal to have at least 10 rental properties free and clear by the time we are 50 yrs old we are 35 now and so far have our primary residence paid off and a rental property also paid off, I was hoping maybe you can give us some advise, here is our situation like I said we have 2 houses paid off one is appraised for $250k (our primary residence) and the other $120k (rental property which gives us $880 per month) what would you do if you were us to make it to our goal?? We are not scared to take risks my husband has built a house from the bottom up so he can do all the construction and we were recently qualified for a FHA loan for $200k and we owe about $25k in credit cards and a loan. What would be your plan of attack? I has taken us 12 years to get to this point, what would you do to get there faster (the goal)? I hope you can give us advise or maybe guide us thanks so much.

Guest
wanm
1 year 6 months ago

How much did you spend on the reno and how long does the project takes to complete?

Do you hire general contractors and you would tell them what to fix and what material use or merely they would fix for you?

Guest
Jun
1 year 6 months ago

Hi. I am Jun in Maryland. I happened to visit your website and realized many people were doing same thing out there. I started investing residential real estates two years ago and was targeting to have 25 (I don’t know why I picked this number) rentals in 10 years. I got two now and working on the third but the market has been improved dramatically over the 1 year, it is hard to find the deal. You are absolutely taking advantage in market as a full time Realtor. I am regular salaried person but have an access to internet during work hours^^.
Market near DC area is kind of expensive. My target is $250K-$350K townhomes (single family as rental is not very popular^^). Although I can find condos below $200K, I prefer townhomes to accommodate families. One question I would like to ask you is why your target price range is around $100K. If you have enough resources, why not buy one $300K home over three $100K home? You can deal with less number of tenants (issues^^) and high incomer tends to keep the property nicer. Of course if tenants don’t pay the rent, you will lose lower rent per month as well as rental loss with vacancy is limited. Is this main reason?