REWT, Inc - Real Estate Wealth Training

Real Estate Wealth Training, Inc.

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16 Burghardt

Acquiring the Property

We first noticed this property in September. It was bank owned.We immediately liked this house. The reasons we liked it were because it was in a good neighborhood and the price was really good for it’s condition. It would be a relatively easy rehab. The biggest thing it needed was a boiler. We didn’t act fast enough and it went under agreement. But, then a month later it came back on the market and so we immediately submitted our offer.

Assessing the project work

We closed on the property! Now we need to do our assessment and come up with a plan.

The house overall is in very good shape. The exterior is vinyl siding. It has a newer roof and newer windows. Not much to be done outside. Just replace some ripped screens for the windows.

Inside the house is also in really good shape. It is hard to know about the condition of the plumbing since the house is winterized. The boiler is shot and definitely needs to be replaced.

The bathroom looks pretty good, but I hate the dark blue tile on the floor. we will replace that with something more neutral. The kitchen sink will get replaced with a new faucet.

The entire first floor the walls are in good shape. We will try to color match the paint and touch it up where necessary. We will however repaint the sunroom because lime green with a blue ceiling isn’t a good look at all. The carpets will come up because there are nice hardwood floors under them.

Upstairs one bedroom needs a new ceiling and to have a wall mural taken down. We will paint the whole room including trim. The other bedroom is a dark red and needs to be repainted, walls only.

Our budget is 15-20k

Problems Happen

This project was pretty much problem free. One minor surprise was that the toilet was cracked and needed to be replaced. A really minor issue. The other problem we had was with the water main. During a really deep cold snap the water main up to the meter froze. The property was winterized after the meter and the meter didn’t split so no damage was done. It was just a little bit extra to the plumber to correct it. Not bad at all.

Working the Plan

Here is what we did.

In the bathroom we replaced the tile floor, toilet and vanity with a new faucet. We touched up the paint on the walls.

In the sunroom we painted the ceiling walls and trim.

In the living room we removed the carpet, touched up the walls.

In the kitchen we replaced the appliances with black stainless steel. The countertop was changed to rosewood granite. A new sink and faucet were installed. A broken drawer was repaired. The knobs were changed out. The walls were touched up.

In the first floor two open archways were removed and wooden doors were added. The doors were stained to match the trim in the house. The carpet was removed. In the overflow area of this room the carpet was replaced.  The closet door was replaced. This room is now a bedroom.

A railing and banister were put in because it was missing. It was stained to match the rest of the woodwork. In the bedroom upstairs, the wallpaper was stripped. The ceiling was repaired. The walls ceiling trim were all painted. The carpet was removed.

In the master bedroom the walls were painted. The carpet was removed.

We also decided to do some staging. It has really made this place come to life!

 

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