Rental and renovation

[Jake Burkons]

Investment Info:

Single-family residence buy & hold investment in East Cleveland.

Purchase price: $34,000
Cash invested: $18,000

Contributors:
Avi Zarbavel

This property is actually located in Cleveland, although I had to list it as East Cleveland on BiggerPockets due to platform constraints.

Attached are the before and after photos from our recent renovation.

How did you add value to the deal?

After parting ways with my previous tenant, I decided to add an additional bedroom to increase the property's value. I also undertook a full renovation, which included a complete makeover of the kitchen, bathroom, walls, and flooring—along with addressing several necessary plumbing repairs.

Lessons learned? Challenges?

Throughout this process—from finding the deal and negotiating terms to navigating insurance and addressing some pre-existing issues with the property—I’ve gained invaluable experience. I made a strong effort to anticipate and avoid common pitfalls prior to taking on the project, but, as with any real estate investment, unexpected challenges arose. These moments pushed me to think creatively and grow throughout the journey. I’m incredibly grateful to have completed the renovation.

[Payton Haight]

@Jake Burkons - nice! You are crushing it. Let me know if you are ever looking at anything around the Columbus / central Ohio area or just have questions in general. The majority of my investment experience is with single family and small multi-family LTR's and MTR's. Glad to talk even if you aren't planning to buy or sell with me.