Circle Drive Renew (BEFORE/AFTER)
BEFORE: 2Bed/1Bath, No HVAC, bad roof, foundation issues, funhouse floors, super low ceilings, weird, cramped layout. Pretty much a nightmare.
Purchase Price $45,000.
Projected Renew Budget: $50,000.
AFTER: 3Bed/2Bath. We opened up the floor plan and added another bedroom and bath. We raised the ceilings and added all new windows, flooring, electric, plumbing, roof, cabinets, tile, countertops, appliances and landscaping.
So, after spending a little more money than what we had hoped (lesson learned, unlevel floors and low ceilings = time and $$), we still came out even. YAY! So, that means we just got ourselves another investment property for FREE!!
Purchase Price $45,000
Total Reno $65,000
ARV (After repair value) $118,000
Mortgage: $875/month
Rented for: $1375/month within 4 days (That’s $500 positive cash flow/month)
We are getting a 19% return on our investment. That’s 3 times better than the stock market.
My favorite part of this transformation was the tile we put in the kitchen and both bathrooms. We wanted this house to feel clean, bright and airy, but certainly not boring! So, this Kenzzi Paloma tile from Wayfair was the perfect accent. I love how neutral this space feels - not too feminine and not blatantly masculine. Perfect for a renter with style.