Updating nice,but older rentals ?

[Darrel Henegar]

Hello , I've been around real estate most my life, but I am new to owning and renting. Does it make financial sense to update a nice but outdated SFH for renting? I can understand the benefit on the selling side , but would this raise rents much? Any insight is appreciated...

[Jaysen Medhurst]

@Darrel Henegar, it's all about ROI and pay-back period.

First do a rent study to find out what rents in your area are. Then determine how long it will take to recoup your investment. Doesn't make much sense to spend $15k, if the max rent in your area is only $50 more per month. You have to stay competitive with the market, both in the product you're offering and the price.