Offer accepted time to BRRR!

[Tiffany Smith]

I have been doing tons of research and sifting through lots of potential deals and finally, tonight, our offer was accepted on a property that I think will fit nicely with the BRRR strategy! I am excited but also a bit terrified! I am borrowing the money from a relative until I can refinance. The home only needs minor repairs. The kitchen could use updating, the floors need refinishing, needs fresh paint, and maybe some new light fixtures.

I am seeking any advice on how to increase value in the most cost effective way as this is going to be a rental. I want to get the best appraisal possible while also keeping rehab costs at a minimum. I have got to make this work! Super exciting and terrifying at the same time!!

[John Warren]

@Tiffany Smith I would recommend that you do a TON of research on other rentals in your area. Go view them in person if you have the bandwidth. The main trap when you are renovating is over renovating for the area. You want to provide an excellent product so that you attract the right kind of tenant, but you don't want to over do it either.