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All Forum Posts by: Kean Chew

Kean Chew has started 1 posts and replied 2 times.

General Landlording & Rental Properties

Post: What adds to after repair value (ARV)?

Kean ChewPosted
  • Posts 2
  • Votes 1

Hello BP:

Happy post Thanksgiving.  Hope the festive season continues to be...festive, fun, and fulfilling for everyone.

My business partner and I will close on a one bedroom condo next Tuesday.  It is in decent shape, and is in move in ready condition.  It is in the Lakeview area in Chicago; definitely an "A" location.  The kitchen is outdated with old appliances.  The bathroom could use a new vanity with tiles that are not easy on the eyes.  Everything is working.

We have a limited budget of $6,000 and would like to put it towards upgrading the unit.  

Our goal is to increase the ARV. What are your recommendations to best use the $6,000 towards upgrades and improvements?

Thank you, everyone.

1 Vote