Full rehab, or patch it up and rent it?

[Greg Gaudet]

I always struggle with this.. I can get the same rent whether I do a full rehab and spend $20k, or just band aid my units (paint, fix anything broken, etc) for $500-2,000. About to close on my next one and trying to decide which one I’m going to do..

Maybe it’s bc we have a housing shortage here so anything gets rented even if it’s dated (also dated properties are the norm here, it’s rare to find a fully renovated rental)

One reason to rehab is that I’ll get more cash out if I refi afterwards.. another is that I should have less maintenance calls.. and the other is that I will attract the best quality tenants.

Ok that’s all for now; guess I didn’t have a question, just needed to remind myself why I should spend the 20k haha!

[Scott Passman]

@Greg Gaudet ROI is great and we all strive to make money. But at the end of the day, I think most of us want to provide a quality place to live for tenants and if you can do so while still making a solid return and simultaneously creating less work for yourself down the road...that's a win all around.