EP 146 - Do You Actually Need to Renovate Units In Your Rental Properties?

Do you Actually Need to Renovate Units in your Rental Properties?

Episode 146

Renovating a property has the potential to increase ROI, but it can’t solve problems like a bad neighborhood. While you should always aim to create value as a real estate investor, there are many factors you should consider before spending on a renovation.

In this episode, Mike and Dan give updates on a nightmare rental property, and share why they’re choosing not to do major renovations on its units. They discuss renovating as a common mistake among new real estate investors, and why deferred maintenance is sometimes the best financial option.

They also take a look at the current real estate market, covering the impact of inexperienced investors in this slower market, the supposed downfall of the BRRR method, and why it’s a great time for seller-finance deals (Mike and Dan’s favorite type of deal)!

Tune in for all this and MORE.

Topics discussed in this episode:

Is it a good time to get started as a real estate investor?How inexperienced wholesalers are affecting the marketUpdates on our bed bug nightmareWhen you should and shouldn’t renovate a rental propertyWhat we’ve learned from tenant issuesThe benefits of seller finance deals

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This episode was produced by Podcast Boutique https://www.podcastboutique.com