Before & after renovation breakdown

[Justin Goodin]

❌ Previous Rent: $1,100
✅ Post Reno Rent: $2,000 (plus utilities)

Original Underwriting: $1,900

$900 monthly rent increase

$10,800 additional income per year (excluding utilities)

We spent $35,000 for a premium level renovation.

= 30.8% return on investment (ROI)

We target an ROI between 25% - 35%. If below 25%, we think the potential upside is NOT worth the cost.

What ROI do you typically target on your value add deals?