Updated about 4 years ago on . Most recent reply
WHAT SHOULD I DO NEXT?!?!?
Hey guys, I am in the finishing steps of purchasing my FIRST rental property (a duplex with a mother in law suite in the back yard). I was hoping to get some advice on what I should focus on next. Both units are in descent condition, from the inside just need some tlc work, the exterior of the house also needs some tlc. The big ticket items that would need to be replaced soon would be the roof, and slight foundation work. I was going into this project with the intention of renovating the inside of one side and eventually doing the same to the other, but now I have shifted my intention to get the mother in law suite up and running as soon as possible since it needs a full restroom and a kitchenette to get it to a studio apartment status. That way I can have 3rd unit paying rent. What do you guys think, what should I focus on first? Any comments or recommendations on my situation would be much appreciated!