Big project to get market rent

[bits1010]

I am waiting to hear back about a offer which I have made, it is a two level old house in Sydney. I think I am 80% successful in getting it at the price I wanted... but if I get the place there will be quite a lot of add value work for me to do to get market rent for that place .... hey as an investor you need to buy low right ??

so the pros here please hear what I am going to say and ask and please please please comment !! I am all ears.

to do work is as listed below. I am a newbie and I think my DIY skills are not good, so I need tradies, and I work Mon-Fri 9-5 minimum so I don't have a lot of free time. from your experiences please comment on the time which you think it will require.

Now the to do lists.
a. remove old wall paper throughout the two levels. (time required?)
b. repaint all walls. (time required?)
c. remove old carpets (time required?)
d. install new floorboards. install new floor tiles in kitchen area. (time required?)
e. replace the existing bathroom basin with a new one. (time required?)
f. replace old lighting with simple modern ones, using existing connections. (time required?)

now this is my plan, it will be done in an order which I think will get it done quickly therefore I can rent it out quicker.

1. remove old lights,
2. remove old wallpaper [Questions : do you always paint the ceilings as well ? so it matches better]
3. note the painter has no need to protect the carpets and no need to remove furniture coz there are none.
4. paint ceilings and all walls.
5. replace carpet with floorboards, get kitchen floor tiles done
6. replace lighting with new ones using existing connections.
7. get rid of all the rubbish !

now questions.
1. how do they price the cost of removing the old wallpaper and repaint the place ? is it by SQM ?
2. how much do I expect to pay to remove carpets and replace with floorboards ? assume average floorboards. is it per SQM ?
3. is it really hard to time manage tradies ? any tips to get them start and end at the time frame I wanted ?
4. I guess I need to get a plumber to replace the basin and sparky to replace the lights ? how much will the labour be ?

thanks in advance ...

 

[Mitch1]

Hi there, it sounds like a relatively simple cosmetic Reno. If you have the chance to take measurements and photos you could do that in advance and have tradies lined up in advance also, as they can use them to give a quote.

You could remove wallpaper yourself in a weekend, saving on labour costs, using a steam wallpaper remover. You don't know what the walls are like underneath so they may need smoothing off/repairing etc before painting. Paint ceilings as well, you would be amazed how dirty ceilings can look against new paint!

I can't give timeframes or cost estimates and every job is different as are quotes so get a couple for each job.
Personally, for a rental, tiles are better/more durable, but just a thought!
Use the Internet to source prices so you have a rough idea. Eg $40m2 tiles etc.

You should work off a budget and try to stick with it but have a contingency for blowouts (like wall repairs)

Good luck with your offer!

 

[Scott No Mates]

Now the to do lists.
a. remove old wall paper throughout the two levels. (time required?)

Not necessarily that bad but often used to disguise poor walls. Hire a steamer from your local plant hire crowd. Hopefully the wall was sized prior to hanging the paper on the wall, otherwise have fun getting it off the wall.

b. repaint all walls. (time required?)

As long as it takes, wall prep, filling cracks, patching, undercoat, 2 coats of paint - might be worth callng quotes via hipages/service seeking etc as you might end up with ridges etc from wallpaper glue.

c. remove old carpets (time required?)

Couple of hrs per room (incl loading skip, removing smooth edge etc). You might enquire about carpet recyclers.

d. install new floorboards. install new floor tiles in kitchen area. (time required?)
e. replace the existing bathroom basin with a new one. (time required?)

Less than 2 days but you need to coordinate with plumber (remove taps/cap off services, install new taps/mods/waste etc

f. replace old lighting with simple modern ones, using existing connections. (time required?)

Sparky should be able to knock it over in a day or two depending upon what's needed

now this is my plan, it will be done in an order which I think will get it done quickly therefore I can rent it out quicker.

1. remove old lights,

Need a sparky

2. remove old wallpaper [Questions : do you always paint the ceilings as well ? so it matches better]

You're painting the walls, might as well fix the ceilings at the same time

3. note the painter has no need to protect the carpets and no need to remove furniture coz there are none.
4. paint ceilings and all walls.
5. replace carpet with floorboards, get kitchen floor tiles done

what's under the carpet at the moment? may be able to polish the existing or lay a floating floor. You will have gaps under your skirtings so will need beading to close the cockroach tunnels

6. replace lighting with new ones using existing connections.
7. get rid of all the rubbish !

now questions.
1. how do they price the cost of removing the old wallpaper and repaint the place ? is it by SQM ?

Depends on the painter, I had one who simply measured floor area and applied a factor, others will price it based on what they see

2. how much do I expect to pay to remove carpets and replace with floorboards ? assume average floorboards. is it per SQM ?

anyone's guess based on what you select

3. is it really hard to time manage tradies ? any tips to get them start and end at the time frame I wanted ?

take a couple of weeks holiday to manage it by being there

4. I guess I need to get a plumber to replace the basin and sparky to replace the lights ? how much will the labour be ?

you would be looking at at least $75-$100/hr but get it quoted rather than do and charge (like a wounded bull).

 

[Kinnon Bell]

Try using one of those service seeking sites to get quotes for jobs as I've found they're fairly competitive when bidding for jobs.

The most extreme instance I've had is I called up for a quote over the phone to an electrician to have some basic work done (2x power points, 2x LAN points and 1 phone point) and they quoted $1200 over the phone. I then submitted a work request through service seeking and the same electrician came back with a quote of $550 for the work....

 

[bits1010]

Thanks guys for the input ! much appreciated.

another question, I think the place has timber flooring anyway. is it ok if I just remove the carpets, polish it a bit and just use it, rather than put on new floorboards ?

actually should I just use the original timber floor or better to put new floorboards on ?