In this video we're going to renovate this entire apartment for under $5,000 and I'm
going to break down all the costs as well as give you a full before and after tour.
To start with, we need to paint this entire place.
It's only a one bedroom apartment.
It's going to be a rental, but if you see the wall here you can see there's a lot of
nicks and scratches and it just doesn't really look that good, so we're going to have our
painting team come in here, paint the entire place.
Next up we have the windows, so we're going to have to replace the blinds here, which
again, is not too expensive, but all these little things add up.
I can see some paint and some issues right here, so we're going to have to fix that.
We have this light right here.
Looks fine and probably works fine, but you know what, we might just upgrade it just to
make the place look a little bit better.
You can buy these for $200 or so to get a pretty nice one at Home Depot or a place like
that.
Another thing we're going to do is we're going to have an electrician come in here and switch
out all the outlets and also make sure that the wiring is good.
I had a unit downstairs where the wiring was a little messed up, so it's pretty easy for
an electrician to come in, change out all the outlets as you can see.
This may be functional, but it just doesn't look very good so we're going to change the
plates, very inexpensive, very easy for an electrician to do, and adds a lot of value.
This room right here, I know I said it's a one bedroom, however this room could potentially
qualify as a two bedroom under section eight.
Probably what I'm going to need to do is cut out a window here so that there's some natural
light coming in.
Even though it's not a window directly to the exterior, sometimes the section eight,
it will qualify for that.
That's going to add a ton of value.
It can go from being a 1202 rental, $1200 a month, to $1360 per month if it qualifies
for a two bedroom, which is pretty significant.
To add to that we'll probably change out the light fixture, change out the fan.
We're obviously going to paint.
We're going to do all the outlets.
We're going to make this room look really good.
As we make our way to the master, there's a few things going on in this room.
Number one obviously, you have the paint issues.
Number two is the ceiling.
There's some texture issues going on so we're going to have a contractor smooth it out,
obviously repaint it.
Another affordable thing that you can do is door handles.
We're going to replace all the door handles in the unit.
Give them a much more modern look.
And then lastly, this carpet, it would probably qualify for section eight qualifications the
way it is now or maybe if I cleaned it, but we're actually going to upgrade the floors
and make it a lot more durable.
We're likely going to do a luxury vinyl plank or tile of some sort, which you'll see in
the next part of this video, but it's going to give it just a much better and much more
renovated feel.
All right, so here's the kitchen.
As you can see it's not the most renovated, but it's completely functional, stove, cabinets,
everything.
What we're going to do here, we're going to paint these cabinets likely white and then
put new hardware because they're still operable, they're still relatively good condition.
And then as far as this goes, we're going to do a new countertop, a new sink.
I'm probably going to go a little bit more upgraded on the sink just to give it kind
of like a sizzle feature and make the property really stand out.
In the bathroom we're just going to paint probably as much as possible.
We'll probably have to resurface the tub.
We're going to get a new toilet, new vanity, mirror, light, and then these tiles, these
floor tiles are in somewhat good condition so I think what we're going to do is just
paint them gray and then have the rest of the bathroom be white.
I think that should look a lot better.
And then as far as the shower fixtures, we're just going to get a brand new set of fixtures
here, just get a really upgraded type of version that you can buy at Home Depot.
I'll show you how much it costs and everything.
I'm really excited to see the final transformation of this bathroom and these are all affordable
repairs.
It's going to look completely different.
So stay tuned.
So there you have it.
There's the tour of the one, potentially two, bedroom apartment.
Now comment below if you think we can keep this full entire renovation under $5k.
Welcome to the final renovated product.
This renovation took about three weeks.
It was supposed to only take one week, but you know how contractors are.
So I'm going to give you a tour of everything we did at this property.
We painted the entire unit.
We also did new floors.
So this type of flooring is kind of an upscale laminate type of flooring.
For rental properties it's really good because it looks good, but it also is durable.
So it's going to last five, 10, 15, maybe even 20 years.
We also changed out all the fans, all the light fixtures.
We did all the outlets to make sure they're working and make sure they look good.
So let's check out the rest of the unit.
I'm going to show you the first bedroom, and this is the bedroom that we're trying to get
qualified as a second bedroom.
There's no real window.
There is a vent, but if we get it qualified as a second bedroom with that window, it's
not much of a window right now, then we're going to get $1360 per month with section
eight.
Now if they only call it a one bedroom and they call this a den it's going to be about
$1202 per month, which is still pretty good, but obviously we're keeping our fingers crossed
for the two bedroom qualification.
Let's check out the master now.
If you remember from the before video, it was in pretty rough condition.
The walls were all messed up.
The ceiling was messed up, so we obviously did new floors, painted, patched up some of
the ceiling, new fan.
So one other thing I wanted to note about this renovation is we replaced all the door
handles.
That sounds so simple and so easy and affordable, and it is, but it makes the place look much
better.
Just to repaint and replace these door handles can actually go a long ways.
All right, so let's check out the kitchen now, which as you know is the most important
part of any renovation that you do.
We're on a budget, so instead of replacing these cabinets completely, what we did is
we painted them all white.
We replaced the hardware and we also made sure that all of them were in working order.
They're not brand new, but they definitely have another five, 10, 15 years of life in
them.
As far as the countertops, we did a new butcher block countertop and it didn't go too far
because we didn't have too many cabinets to work with, but this was only about $200 bucks
plus the labor, so it was really affordable.
I think it came out pretty well.
Let me know what you think in the comments.
Then we also did a brand new sink.
This sink was leaking everywhere.
It was in bad condition, but I think this came out pretty well.
Welcome to the brand new bathroom, and yes I am standing in the tub.
I'm just going to tell you what we did here.
All new tile, we tried to save the original tile and just paint it white, which an affordable
option that you can do a lot of times.
However, this tile was just in such bad condition, when we replaced the shower kit my contractor
basically just said, "Look, we should just replace the tile.
It's not going to be that expensive.
We also did new floors, new toilet, new vanity, new mirror, new lights, and painted the entire
place.
Now, one thing to be aware of when you're working on a multi family property is obviously
the units below you, above you, around you.
One thing that happened when we were replacing the toilet and messing around with the sink,
a leak started happening in the unit below.
I got a frantic text message from the tenant saying, "Hey, my unit's leaking.
There's water everywhere."
She actually sent me a text showing the water coming down.
So when you're working on an apartment building you have to be aware of where the water shutoffs
are and you also need to be working with your contractors and be in constant communication.
So if anything like that comes up you can put in a stop to it immediately.
That is the grand tour and we tried to do the affordable renovation for under $5,000.
It ended up being about $7,000 and taking about three weeks.
A couple things to note, you should always try to push for a two bedroom if you have
some type of debt because I found with section eight properties, if it's close a bedroom
sometimes the inspector will actually consider it a two bedroom, there you get significantly
more rent.
Additionally, if you're a real estate agent or real estate investor looking for a new
brokerage, I'm looking for people to join my team nationwide as well as actually internationally.
There's a video below that I want you to watch.
It's about 10 minutes or so and if you like the video, if you like what you're hearing
you want to learn more about joining the brokerage all you have to do is book a call with me
in the video link and we can chat one on one and you can learn more and I can answer questions
and see if it makes sense for your real estate career.
Thanks for watching this video and I'll talk to you later.