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Updated over 5 years ago on . Most recent reply
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What are some go to renovation to increase property value?
Hi everyone, I'm brand new to this however have done a TON of reading / watching videos and am trying to get as much information as I can before I start to invest.
I have learned a lot so far however 1 thing I need to get more information on is renovating.
I know this is going to be a very broad question, but I am trying to see if there is anyone out there who uses the BRRRR method and have a go to renovation that they do on every property that they know will typically increase the value of the home.
Thanks for any advise.
Most Popular Reply
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@Bryan Hurley, I think one of the hardest things to measure is how much value will be added by doing improvements on a property that is already in good condition. With residential real estate an appraiser will be focused on comparable sales and using that to value the property when they don't even have complete and detailed information about those comparable sales and their condition.
For BRRRR type deals, I would focus on distressed properties. Its easier to see how taking an unlivable house with no working systems to be a B class property will increase the value and have a pretty good idea where that value will be.