I haven’t written in awhile which sucks. I enjoy it, and it helps me think.
I’ve been busy though. We’ve had some things pop up with the McCarty house, finished up another light rehab and moved a tenant in, and had a major plumbing failure at Rutherford (I swear that house is going to kill us) that resulted in an insurance claim. We had to replace the plumbing stack and completely redo both bathrooms.
Not cheap. And of course insurance is going to screw us. The scam of all scams.
But we’re finally getting started on our Crown Jewel as I like to call it. And I’m only now realizing I have yet to write about this home.
It’s a gorgeous house we closed on back in December of last year. I’ve been itching to rehab it, but we just hadn’t gotten to it yet. We call it the Crown Jewel because, once rehab’d, it will be the nicest home we own. It’s on a strong block in a strong neighborhood and I’m just kind of in love with it.
Anyway, we’ve got a rehab budget of ~$50k which means we’ll almost definitely go over. We purchased the home for $37k, and it would appraise for somewhere in the $130k+ range.
We’re redoing the plumbing and electrical, putting on a new roof, redoing the crumbling exterior steps and brick porch, blowing out a wall to open up the kitchen and redoing that, and then all the basics like refinishing the floors, painting, recessed lighting, etc.
It’s going to be gorgeous, and I can’t wait to see it done.
Today we were able to remove the wall between the kitchen and (one of) the living areas. In the process we uncovered the original rough plumbing inspection approval from 1936. Crazy!
We’ll be rerouting the heat runs through other walls, throwing a peninsula in, and eventually creating a jaw-dropping kitchen here. We’re aiming to be done with the home by November, but that’s going to mean a pretty rigorous schedule.
Here’s to hoping!