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Connecticut rehab – Week 15

We’re now entering the home stretch of the project. And it couldn’t come any sooner. We’re looking good on our overall budget and profit margins, but things have taken longer than we hoped. We won’t be done in a week’s time, but the only thing left will be minor finishing projects. At least I finished floating out the original plaster walls.

As you can tell from the pictures, the bathrooms and kitchen have been installed. I’m really happy with how everything turned out. The only thing left in the kitchen is the concrete countertop, back splash and custom shelving in the corner. The shelving will be in this weekend. As for the countertops, we’re having concrete countertops manufactured and installed by Councrete Counters STL early next week. I shopped around for these and they came in well under the bids of their competitors and their counters are much thicker (2 inches!). I’ll post about our final experience with them when they are finished.

We also managed to finish smoothing out all the drywall and plaster walls throughout the house. That was no simple feat, but everything is now primed and ready for paint. Since we are under budget and looking to move along as fast as possible on the project, the painting of the walls and ceilings will be subbed out. After Tuesday, August 12, we should only be left with installing a few doors and doing the trim work. I’ll post pictures of the painted and cleaned up project next week.

On another note, we put a “Coming Soon” sign in front of the property this past weekend and we are already getting interest. When listed, the property will start at $133,500 and we will see what we can do from there. Anyone in the market for a house?

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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