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:
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