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Updated over 4 years ago,
Interested in thoughts on how to approach this remodel
Hello bigger pockets community,
I am about to close on a property mid September and I am wrestling with how to approach the renovation. This will be a buy and hold. The property is pretty dated, needs mostly updating inside. There are some water and structural issues under the house, some electrical work, and a new roof is needed. I'm thinking it will probably take at least 2 months to get it rent ready. The question I'm wondering is whether to push it hard and try to have this ready in 6 weeks around the first of November, even if I have to pay for some additional work, and get someone in before the holidays. OR take my time with it, put in more sweat equity, and shoot for closer to early-mid December. Any thoughts? Are renters moving in November & December? Is the first of the year a bad time to shoot for? Im in Durham, NC, so we dont have the freezing winters but still, Im not sure how many people are moving then. Would I be hurting my chances of finding a good tenant if I wait past November? Any insight you have regarding new tenants during the months of November - January would be really helpful.
Thanks.
Ben