Turning Primary Home Into A Rental

[Elizabeth Zielinski]

Hello all!

I bought my first primary home last fall. It was a rental home and my agent convinced the previous landlord to sell it to me. It’s a cute 1950s bungalow in south Warren, MI, but needs a new kitchen and bathroom. The exit strategy is to leave and rent it out. I want to make it nice and use quality materials so I don’t have to replace them after each tenant. However, I don’t want to sink too much money into the property and lose money. Any advice?

[Cameron Tope]

Elizabeth,

That's great advice from both @Joseph Cacciapaglia & @Marian Smith - meet with some local property managers & be wary of over improving. 

Don't go with the first property manager you meet and spend some time looking at the comparable houses/rents in the area. 

Best of luck!