Tom Tarrant on BTR

Thanks to Tom for being on the show – and for everyone who listened!

Some of the highlights:

tj and the bear asked about ballpark costs, and Tom broke his general remodeling expenses per room.

He does the work himself on these rooms:

Kitchens – $10,000 to $12,000

Bathrooms – $2,500

Engineered hardwood floors – $4,000

Work done by contractors:

New 200 amp eletrical service – $5,000

New plumbing – $5,000

Roof – $4,500 to $6,000 (comp shingle)

Jeeman called in and described his struggle to get a reasonable quote for an overall remodel, and we agreed that it is good to get plans done first, then have general contractors gives quotes so you can compare apples for apples.

Tom mentioned several TV shows who have approached him looking to document his ‘team’, and fabricate some drama.  Tom is willing to tell it like it is, but no takers for that package so far.

Tom also said that he sees plenty of deals on the MLS, though it is hotly competitive.  He is a believer in cruising the neighborhoods looking for possibilities, and that the South Park project was a result of such an effort.  He had to drive to Lakeside a few times to track down the owner, but finally prevailed.

The South Park project requires a two-car garage per the city, so the remaining buildable lot only allowed for a 1,350sf house.  Tom changed to a two-story, 2,000sf plan instead, and hopes for a completion date in Fall, 2012.

The Bay Park remodel hasn’t hit any snags, and is a lighter project because no square footage is being added.  We talked about Bay Park being an up-and-comer neighborhood, and that there could be pockets of appreciation in certain areas like it.

Listen to internet radio with Jim the Realtor on Blog Talk Radio

Blog Talk Radio Monday

Join us for blog talk radio tomorrow night at 8pm PT with Rich Toscano of piggington.com!

We’ll be analyzing local real estate trends and discussing the right time to buy! We may even have Rich comment on his recent article on the U.S. debt load here. To listen, tune in here at bubbleinfo, and call 1-877-317-7373 with your questions and comments for Rich.

For those who can’t make it, there will be a recording ready right after the show, and the transcript available within 48 hours.

I hope to produce blog talk radio shows with guests on the second and fourth Monday nights of the month at 8pm PT.  The next show will be with Tom Tarrant on February 13th, when we’ll be discussing his real estate strategies, and house flipping.

As you probably know, Tom has a project underway in Bay Park – here is a nearby listing for sale:

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