FULL RENOVATION TRIPLEX-NEED TIPS

[Tommy Kerwick Jr.]

Hey everyone. I just recently added a triplex to my portfolio which is going to be a BRRRR...down on the Jersey shore, and it's going to need a 100% renovation, from top to bottom. It's in a town that's on the rise so I'm banking on appreciation as much as I'm banking on CASH FLOW! Being that it's not my own home that I'll be living in, I don't want to over do it, but I want to make it so tennant will choose my apt's over any others on the market. I want to do what's most efficient and cost effective for the long haul since this is strictly a buy and hold property.

This is not the first full reno that my wife and I have done, but it is the first multi family home we’ve purchased. As it sits right now, there’s 1 apt downstairs and 2 upstairs.

In a project like this, I want to search for the most cost effective and most efficient ways of fully remodeling across the board in fully redoing each of the 3 apt’s. The great thing is that everything will be brand new. But what to go with? Spray or regular insulation? Redo the baseboard heat throughout, or add forced air+AC units for each apt? Just do heat and let them add window unit AC’s? Would you spend the money on tankless boiler/water heaters? What type of floors do you go with for longevity? What types of counter tops? Since each apt only has 1 bathroom, should they all have tubs?

What products do you use and where do you shop for all of YOUR rental property needs? Are there things you’ve added in units that have attracted tenants specifically to your apt’s? EVERYTHING will be brand new and redone so obviously I’m looking in every direction on where to save $$.

Looking forward to hearing all of your thoughts!