Real Estate Investing Forums

Real Estate Investing => Rehabbing, Fix and Flip, Rental Properties => Topic started by: Baloo on September 12, 2005, 06:50:30 pm

Title: to upgrade or not to upgrade!!!
Post by: Baloo on September 12, 2005, 06:50:30 pm
I need some expert opinions on the house I am currently doing a deal on.  We're waiting on the financing to get finalized and are working out the plan on the rehab.

Two points that are causing the most uncertainty are the siding and a back screened-in room.

The house is in a very trendy neighbor hood with a lot of popular bars and shops near by.  We are buying for 91k and looking to sell at about 140-150k.  We are refinishing the wood floors, replacing the kitchen and bath, installing all new windows, updating the furnace and water heater and giving the garage a much needed over haul.

It has aluminum siding that needs some trime and peices repaired along with some stern power washing and altering as we replace the entry door with one including side lights.  Will I get my money out of vinyl siding (installed ourselves, and yes we are capable) and will it help move the property, or is it better to repair and paint the existing siding.

The back screen-in room is attatched to the house and is on stansions in the back.  The exterior of the house wall with-in the room is wood siding and the back side has dropped 3-4 inches.  It has plank board floors and storm windows on all three sides.  The screen in room blocks one of the bedroom windows and the bathroom window.  And the stairs out the back needs to be replaced.  Would I be better served to tear down the room and replace it with a new deck ($1,000 - $1,300), or should I jack up the screen in room and pretty it up?

Your thoughts would be greatly appreciated!

Eric