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

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Show Notes

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 market
  • Updates on our bed bug nightmare
  • When you should and shouldn’t renovate a rental property
  • What we’ve learned from tenant issues
  • The benefits of seller finance deals

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Links from the Episode

Check out the FREE Collecting Keys “Sub To Transactions” Master Class!

https://www.collectingkeys.com/subto

If you’re an established investor with money to invest, but not the time, check out the Instant Investor PRO Program! https://www.collectingkeys.com

Check out the NEW Big Dan Energy shirt (and more!) in the Collecting Keys Merch Store: https://store.collectingkeys.com/

Download the FREE 5-Step Guide To Generating Off Market Leads here: https://www.collectingkeys.com

If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, head to https://www.instantinvestorprogram.com and see if you are a good fit for the mastermind group!

 

Collecting Keys Podcast Resources:

https://www.collectingkeyspodcast.com

https://www.instagram.com/collectingkeyspodcast/

https://www.instantinvestorprogram.com/

https://www.instagram.com/mike_invests/

https://www.instagram.com/investormandan/

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