Video: Before/After Repair Walk-through of First Rental Property

by James on 03/01/2010

Image of my first rental property

As I promised, here is the video walk-through of our first rental property before any rehab has been started. I will be adding the after repair video within the next couple weeks. It will be wonderful to see the dramatic change from an ugly duckling to a decent duckling once the repair work is complete. Our goal is to make this Houston area property clean and functional… a nice place for a family to live.

Before rehab:

After rehab exterior:

After rehab interior:

Related posts:

  1. Progress Update: Closed On First Rental Property
  2. 12 Simple Steps To Get Your First Rental Property
  3. How To Keep Your Tenants From Destroying Your Property
  4. Video: Before/After Home Office Renovation

{ 6 comments… read them below or add one }

Dawn Stevenson 06/08/2010 at 1:45 pm

Hey Jimmy,
You guys did a GREAT job!
We are looking to indulge in a venture such as this in the next couple of years, so we’ll be keeping an eye on how things are working for ya!
Again, AWESOME JOB!!!

James 06/08/2010 at 1:57 pm

@Dawn Stevenson

Thank you so much, Dawn! It has been quite an adventure already! We can’t wait for the next one! :)

Lisa Roye 08/06/2010 at 4:29 pm

Hey James,

You guys did a fantastic job of rehabbing this house. If you decide you want to get another rental property and not have to do all that work, please let me know so I can point you in the direction of turnkey rentals (no work necessary, and already rented out). Unless of course you enjoy rehabbing, which a lot of people do. Me, I’d rather be scrapbooking :)

P.S. I love your domain name!

James 08/09/2010 at 6:23 am

@Lisa Roye

Thank you for your kind words, Lisa! There is definitely an advantage to getting a turnkey rental… less work! Sometimes I feel that I could use a little less work.

We decided to go the rehab route because there is more equity capture potential when a property needs a little TLC. And in general, the lower mortgage can lead to higher positive cash flow.

Zero Passive Income 05/27/2011 at 8:22 am

Nice job. I’d be interested in seeing your numbers on this property i.e., purchase price, renovation costs, monthly rent, financing terms etc.

Has this proven to be profitable for you?

James 05/31/2011 at 9:38 am

@Zero Passive Income

Thank you very much! The property has proved to be very profitable. $500 a month of positive cash flow. Tenants have been wonderful. You can check out some of the numbers here: http://freedomby40.com/2010/02/progress-update-closing-on-first-rental-property/

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