BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 7 months ago, 06/02/2024
Carpet of vinyl for appraisal purposes!
Hey all!
I'm just starting my first BRRRR.
I bought a great house from the foreclosure sale. It’s just cosmetically ugly. I was figuring on painting everything and laying all new floors as it has some ugly blue 80’s carpet in it.
I had another more seasoned investor come look at the property with me. He's never BRRRR'd so as he see it's the house is already fit for a renter.
I personally want to get the highest appraisal possible.
He told me that everything that was already ugly carpet would get me a higher appraisal if I redid that with nicer carpet rather then peel and stick vinyl wood style flooring.
I was wanting to lay peel and stick throughout the house but he says that that wouldn’t give me a higher appraisal and that nice carpet would.
So BP world what have you found? I want this property to be tenant proof yet I don’t like doing things twice.
Which will get me a higher appraisal?