Background:* Several weeks ago I asked for advice on pricing my rental property for sale to a contractor who was interested, and got scads of great advice from this forum, including the following from PJ03:
Hereís my take, Iím a builder and investor; I buy and flip properties like this one once or twice a year.* If I feel that the property is worth $450K-$460K (Fixed up) at todays value my discounted price would be in the $350K to $380K range...
You just about called it, PJ03 -- the contractor who wanted to buy my rental house fixer-upper wanted to pay $400,000.* Not unreasonable, as he's got to make a profit, after all.* I seriously considered it.
But that got me to thinking.* When did I get so lazy?* Fifteen or 20 years ago, pre-college, pre-grad school, and pre-megacorp, I would have jumped right on this, done most of the work / farmed out the rest, and kept that profit for myself.* I own a Milwaulkee Magnum Holeshooter, fergawdsakes!
Why was I thinking about giving up a big chunk of change in exchange for a little less trouble?* Has sitting in front of a computer warped my thinking, as well as my backside?* Am I getting OLD and SOFT!!!!
Bah!* I've decided to do a lot of the work myself, press DP into service, and take the advice of you FSBO folks (WITH a lawyer for safety's sake).* At the end I'll add a chunk to my RI account whilst (with any luck) learning a few new things and not killing myself along the way.
To that end...* All of you who have so graciously shared their experience and wisdom thus far, a few additional questions:
Anybody ever reface cabinets themselves?* How'd it come out?
Ditto getting someone to recoat your bathtub?* (I'm leery on this one, even though I just saw it on "This Old House."
Ditto peel-and-stick floor tile? (Mostly ugly, but some look ok and I can do it myself.)
Tips of making it LOOK good on the cheap? (I'm not trying to FOOL anyone here, I just want the biggest bang for the buck.)
My revived motto:* "No guts, no glory!"