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Updated almost 2 years ago on . Most recent reply

Neil Tollner's profile image
Neil Tollner's profile image
Neil Tollner
  • Rental Property Investor
  • from Everett, MA
  • Member since Jan 12, 2021
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Neil Tollner's profile image
Neil Tollner's profile image
Neil Tollner
  • Rental Property Investor
  • from Everett, MA
  • Member since Jan 12, 2021
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Neil Tollner
  • Rental Property Investor
  • Everett, MA
2
Votes |
18
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Do I rehab a 2 bed 1 bath to a 3 bed 2 bath

Neil Tollner
  • Rental Property Investor
  • Everett, MA
Posted

Hi All!

curious if I should: 
- rehab a nice 2 bed 1 bath to a 3 bed 2 bath

or 

- buy another multi family and rehab later

we have a 2.875% rate on our multi currently. Would do a cash out refi after the Reno at whatever rate that may be then to use on next property.

Thank you  in advance for any insight

Boston, Massachusetts
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Bruce Woodruff's profile image
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Bruce Woodruff
  • #1 Contractors Contributor
  • Contractor/Investor/Consultant
  • from West Valley Phoenix
  • Member since Apr 11, 2021
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Bruce Woodruff's profile image
Bruce Woodruff's profile image
Bruce Woodruff
  • #1 Contractors Contributor
  • Contractor/Investor/Consultant
  • from West Valley Phoenix
  • Member since Apr 11, 2021
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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
13,867
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11,859
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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

1100 SF is too small IMHO. Best to save your money on this one. I would only spend money if you can absolutely get that ROI quickly. Sounds like a $50k remodel for maybe an additional $500 a month? 100 months? Nope.....

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