Rental Property Investor · Cleveland, OH · Member since 2017 · 98 posts · 19 votes
Ohhh this is exciting! My first question on the forums (be gentle)! So I searched but didn't come up with an answer so I'm sorry if this has been addressed already. I'm looking to use BRRRR as my investment strategy and I'm a little lost when it comes to where you would get your numbers from for what and how much to renovate. I know every property will most likely need different things done to it, but are there general things that you should always do to a property to raise it's value? Is there a good list of general costs involved for different fixes (ie: new roof, new siding, paint jobs, kitchen remodel, etc etc)?
The reason I'm asking is because I'm a little lost about how to factor all this in when analyzing a property. I'm sure this will all become easier with time and practice.
Hi Nic and thanks for responding. That addressed some of my questions! So, going forth (according to the post) I should look for the ugly duckling house that needs cosmetic renovations (painting the outside, new floors, new windows, etc) to bring it up to the standard of what other properties are around it.
Still need to find out where you would get your numbers from for each type of renovation.