BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 2 years ago on . Most recent reply
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Rehabbing a Duplex with Tenants in upstairs unit
I have been going back and forth in my mind about how to go about rehabbing BOTH units of a duplex with tenants in the upstairs unit.
I thought to commence the rehab on the bottom, offer them to move into it once remodel is done (with no increase to rent for the remainder of their current term) then rehab the top unit and move in - OR - rehab the top unit while they live inside, for a decrease in rent for the duration of the construction. The latter could be harder to do as I am trying to replace the floors and shower. However, just trying to get the most bang for my buck with the VA renovation loan and maximize my appreciation potential and sell-ability later down the road.
What options do I have?
Most Popular Reply
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I wouldn't do renos while it is occupied. And if you are going to do renos and not increase the rent, why bother with the renos? Renovate the bottom unit, get it rented at market value. If the upstairs tenants want to move downstairs, then they can rent it at market value.