Preparing Primary Residence to Become Investment Property

[Clarissa Ferrell]

Investment Info:

Townhouse buy & hold investment in Boron.

We own a townhouse as our primary residence. However, with three children and a dog, we've found ourselves outgrowing this place. We plan to keep it as a rental. We will document our journey of doing the glamorous and not so glamorous renovations to prepare this home for investment status.

03/2023 Heat pump went out. We've been relying on space heaters for the last couple of weeks (not excited to get my electric bill). Getting the heat pump and air handler replaced next week.

What made you interested in investing in this type of deal?

Initially, this home was just going to be a primary residence, we weren't thinking of owning an investment property when we purchased it. With winter quickly approaching, we were on a time crunch to cut down my husband's work commute. This was the least expensive home we found in the area we needed to be in. Since we've moved here, a coffee shop and other stores have opened within walking distance. All around, it's a great family neighborhood.

How did you add value to the deal?

Installed granite countertops, replaced all carpet with LVP flooring, and updated/corrected the not so glamorous stuff (replaced back patio that was not graded properly, corrected plumbing issues, currently replacing HVAC system, plan to replace failing deck).