With the help of the police – Big thanks to Cape May Police Department – the Seller has removed all their personal belongings and we are ready to begin the rehab.
Our goals are fairly simple. We would like to enlarge the property from three bedrooms to four bedrooms and add at least another bathroom and maybe a bath and a half. This works needs to be completed by April or May so that we can have it on the rental market before June.
Tonight, the decision makers will be meeting to discuss the financing of the work. We have met with a builder who has quoted us a price of $100.00 a square foot. Our plan is to knock that down to $80.00 a square foot if we do a lot of the finishing work ourselves. That price is probably realistic, since we will be moving the kitchen to the addition, adding bathrooms, central air, insulation, and all new siding.