FULL Renovation Triplex Need tips!

[Tommy Kerwick Jr.]

Hey everyone. I just recently added a triplex to the portfolio on the Jersey Shore and it needs a 100% full renovation. It’s in a town that’s on the rise so I’m banking on appreciation as much as I’m banking on CASH FLOW! Being that it’s not my own home that I’ll be living in, I don’t want to “over do it”, but want to do what’s most effective and efficient for the long haul since this is strictly a buy and hold property.

This is not the first full reno that my wife and I have done but it is the first multi family home we’ve purchased. As it sits right now, there’s 1 apartment downstairs and 2 apt’s upstairs.

In a project like this, I want to know what is the most cost effective and efficient way of remodeling across the board in fully redoing each apartment. The great thing is that everything will be brand new. But what to go with? What Insulation, spray or regular? Redo the baseboard heat or strip it all and do combo forced hot air+AC for each unit? Would you spend the money to do a tankless hot water heater for each unit? What type of floors do you go with for the long run? What type of counter tops? What products do you use and where do you shop for all of YOUR rental property reno’s?

Thanks everyone. Really looking forward to your input.