Ok that was an exaggeration 😂 but seriously, I need advice! I recently secured a couple of cool properties to flip, these are my very first ever. The first property the contractor bid a really simple kitchen and a bathroom remodel, fresh paint, and carpets, nothing major just that and a new furnace...
Now he is bringing up all of these ideas of finishing the basement, insulating and running electric through the attic to make it a master bedroom, and adding central AC... all at a reasonable price, and trying to convince me of the value add.... I just don’t know if the value is there seeing as none of the comps had that and central AC is not as big of a deal in the city (Cleveland) as the suburbs.... at 55K for comps I don’t want to put too much into this and risk buyers not seeing the value and losing $$
What do you guys think? Is it enough of a value add or should I go with what we decided on from the beginning, a nice upgrade and quick flip? If you were buying a rental property would it really make that much of a difference to you if there was central AC and a finished basement? Would it add an extra $10,000 to the purchase price?
