Posted by Pops1532 on January 14, 2013 at 21:37:13 from (68.58.114.55):
In Reply to: Some pics of my House posted by Fullers Farmalls on January 14, 2013 at 20:12:25:
Congrats on your first house!
That's a project I wouldn't shy away from, but I've been building and remodeling longer than you've been alive.
Replace the roof. Gut the interior. Insulate, hang new drywall. Hang the drywall horizontally and use long sheets to eliminate the butt joints. Consider hiring out the drywall. Install vinyl replacement windows. More on that in a bit...
Use the cheap masonite 6 panel doors and primed pine trim. Use cheap cabinets but go with the dovetail drawer upgrades. Laminate counter tops. If you need a water heater ask a plumbing supply house if they have any scratch and dent specials. Don't skimp on electrical or plumbing.
You'll need a permit for the roof and maybe windows. Probably don't for the drywall, cabinets and trim.
Paint the exterior. Do it right. Do it once.
Live in the house before you rent it. More on that.....
Read up on US EPA RRP program. If you own and live in the house you don't have to follow the EPA RRP rules. If you are going to sell or rent the house you have to follow the RRP rules!
You don't want windows with lead paint anywhere near a rental. Change them now! Do all the work before you move in or while you live there. Otherwise the EPA rules will apply.
You're going to have to spend some money, but the return on investment can be very good.
I saw on this topic or the other one where someone said contractors get a 20-30% discount. The amount of discount depends greatly on how much business we do, and which supplier we deal with. I took a material list with an $18K retail value to Lowes (where they tell me I'm one of their best contractor customers) and my discount was less than $200! On the other hand I get a huge discount on windows from a mom and pop store. What I'm saying is don't expect any big discounts. I wouldn't put any high dollar stuff in there but I'd make it nice.
There are a couple types of tax sales which might be why some are cautioning you. One type you pay the back taxes and the owner has a chance to pay you that amount plus interest. The other type is an auction where the buyer gets a clear title. In the states I'm familiar with once a property is sold for back taxes at auction the original owner or lien holders have no recourse. Check the laws in your state.
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