Getting equity out of a propert through rehab and raising rents

[Trey Prince]

Currently own a fully occupied triplex in the western mass area. All tenants are paying under market rents. With the appropriate rehab I can raise the monthly rent roll about 700 dollars all together. However I am not sure if these tenants can afford it. How should I go about making these renovations and putting these units back on the market. Looking to get equity out of the property by increase the net income.

[Trey Prince]

@Filipe Pereira the current conditions don’t warrant these prices.. but the size and area in which the property is does.. With the appropriate renovations (kitchen and bathroom tiles, kitchen counter tops and a few other small fixes) I can get about 250 more for each unit based on the rentals that are on the market now. Trying to get as much as I can without making renovations right away sounds like a good idea .. very cost effective.

Much appreciated sir I’d love that ! Always willing to listen and learn from like minded people in the industry!