Remodeling your kitchen doesn’t have to cost you $50K (or more).
Instead, you can do it for $8K – and the job will look EXCELLENT.
Here’s how:
1. Demo the existing counter tops and remove the cabinet doors and drawer fronts.
Cost: $0.00 because you do the work.
2. Refinish the face frames of your existing cabinets. Use two coats of primer and two coats of semi-gloss enamel – and sand between every coat.
Cost: $200 for paint, and you do the labor.
3. Install new granite counter tops.
Cost: $3,300. You hire this work out.
4. Install new sink, garbage disposal, and plumbing hardware.
Cost: $1,600 ($1,300 for materials and $300 for a plumber).
5. Order new cabinet doors and drawer fronts. Primer twice and enamel twice before they are installed. Again, sand between each coat.
Cost: $1,800. You do the painting and sanding.
6. Install the cabinet doors and drawer fronts.
Cost: $1,000. $500 for cabinet hardware (hinges and pulls) and $500 for a finish carpenter.
These are the trusses
I built into the 9′ kitchen ceiling
Cost: $300 for building materials and paint. I did the design and construction work myself. The ceiling fan added a nice touch too.
Notice the dark and dingy look of the old cabinets before the kitchen remodel.
How I’ve Made Money in Real Estate
If I were to add up my real estate profits over the course of the last 55 years, I would estimate that 50% have been the result of building things (either via stick-building new homes and apartment buildings or by adding value to existing structures) – and the other 50% was due to good timing and buying below market.
My message to all real estate investors is not to limit yourself to price appreciation or cash flow for making money in real estate.
As I’ve shown you, you can achieve a very handsome ROI (more than 500% in this case) by adding value to existing structures.
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