My Rental Project

Got a killer opportunity on this property 2 houses down from where my parents live. Its the last street in Buffalo before Cheektowaga/Sloan.

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Little background:
Built in 1870
3 Bedrooms
1 Full Bath
Partial Basement
1 Car garage
1.5 City Lot Size

To the left is a parking lot for a Funeral Home so nice quite neighbors there, to the right is a “zombie” house. The owner passed away 3 years ago and the house has sat in limbo since (trying to also purchase as part of bigger plans :slight_smile: )

It seemed to be in pretty bad shape when we first looked at it Nov 12’. The family wanted too much money. So we passed on the offer to buy. Then in January they contacted me and my fiance again and asked what we would offer. Made a good cash offer and 4 months of legal BS later we are Home Owners!!!

After the purchase and paperwork were finalized we were able to take out a Home Equity Loan to do the necessary repairs, since we are fully vested and own the home outright, bank couldn’t say no! Especially when it was last appraised for around $51k last year. (Dunno how that can be accurate but its what we were told and what the papers say)

Anyways I’m going to post some pics right now of what progress we’ve made, I am still looking for ideas for the flooring that is cheap and easy to install that isn’t carpet.

Here goes!

1st big issue was the back/spare room, it was originally an addition and had a terrible carpenter ant issue. Ended up having to tear out and re-structure 2 wall and some ceiling joists. This had a flat torch-down roof.

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So we restructured the walls, installed a few new windows and had the roof done immediately. (The roof cost us more than the house :shoot:but was well worth what we paid for what got done!)

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2nd big issue was that the back roof was leaking and the the other two sections of roof (two gables) already had a beginner layer of box car wood, yes 8x5/8 board then cedar shingles, then 3 layers of regular shingles. So a complete tear off and full 40yrd dumpster later the roof was done!

3rd big issue was the stairwell to the 2nd floor was completely unusable unless you were 4ft tall. You literally had to duck 2ft just to make it to the top landing. So we persuaded the roofers to add a dormer to make the stairwell usable.

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And almost all finished.

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Kitchen needed serious updates. Stove was from 1940… Got a plumber to come in and completely update the plumbing, new hot water tank and the works, we were able to save the original “farm house” sink for the kitchen.

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Having the kitchen, basement, back/spare room and bathroom electrical updated. New breaker panel and whatnot. Got some good appliances on the cheap and the kitchens almost done.

Still have a lot to do, the living, dining, and all 3 bedrooms have no electrical whatsoever. Trying to find a cost effective and less intrusive way than destroying the walls (since it is all lathe board) to do electrical in these rooms. I’ve seen this track system that acts as a base board I may try out.

Any input or pointers are appreciated!!!

Looks like you were pretty close to calling Caterpillar Remodeling. Hang in there.

Yea the house next door to this needs to be bull dozed for sure. But Once we got underneath it and found all the pillars were still in good shape we decided to tackle it!

Looks like you got one hell of a project there! Coming along nicely!

Have some more before pictures, going to go and get some of the completed roof in a little bit.

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Looks great! Lately I have been considering doing something like this more and more, but the timing isn’t right. You seem to have more time to invest into a project like this.

New roof and dormer. We are doing the siding a little at a time. There was a window at the top of the stairwell (on the floor) I eliminated with the dormer, hence the hack job looking siding below the gutter line.

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---------- Post added at 10:11 AM ---------- Previous post was at 10:08 AM ----------

Time is something I have nothing of! I work 2nd shift Mon-Thur, regular shift Friday, @ the race track all day Saturday. I’ve just been spending 1-3 hours a night during the week and a full Sunday on it for the past month. I had a contractor do the roof obviously but everything else is bought from Home Depot and installed by myself, father, and friend. Things that took the longest were arguing over how to tackle some things! lol

All said and done I’m less than a 1/3 of the appraised value into it and only have some finish work left inside.

Damn thats a massive project but an awesome one to see the progress of keep it up man!

Looks good but in that area…how long will it take you to start earning $ back on it?

First thing I would have done is plucked those ugly pine trees. Coming along nicely :tup:

The area is Sloan, its not terrible. Its not Lovejoy but its not Cheektowaga.

Honestly I’m not sure how much to ask for rent as far as the size of the house. Its a 3 bedroom, 2 living rooms and a spare room downstairs.

seems like an extensive project. are you putting the vinyl over the aluminum?

No tearing the aluminum down. At $0.55 a # I would cover up money!

God bless you and anyone else who rebuilds/refurbishes old homes, just looking at the pictures makes me nauseous, I hope everything works out well.

My uncle had a place in Sloan right off Broadway. I can remember hearing those train brakes squeal at the main yard day and night. Nice neighborhood. Seems like it’s a well kept secret over there. Nice to see you’re using the PEX.

Sloan is quickly going down hill as all of the old people die off…

As I do agree with that statement it’s stilla better place than south Buffalo.

No doubt I bet Sloan has another 10 years of being decent just super long term :tif:

Although I am leaving south buffalo… Sloan is no where near as nice as my neighborhood. There is no McKinley triangle in Sloan.

Agreed. We can argue over locations and neighborhoods all day long but bottom line is I can’t pick the house up and move it (cheaply lol).