Remodeling buy and hold or maximize ROI

[Michael Kistner]

Hey BP forum!

  I have a question geared more to the buy and hold strategy. 

When you purchase a buy and hold deal do you remodel and update the entire place or do you only do the necessary repairs to maximize ROI?

Originally I was only doing the necessary repairs, maximizing my ROI but have recently revisited some earlier BP podcasts and hear people going in, gutting their buy and holds and making them really nice.

   I can see the benefits to having nice products and making them easier to lease but I just wanted to hear other people’s strategies and why they prefer it. 

Thank you!

- Mike