All Forum Posts by: Travis Main

Hey Hernan welcome to bigger pockets community. If you ever want to connect to talk about financing, please let me know.

Hey Lara, 

Welcome to the community. Please remember to take advantage of the knowledge and resources available to you this platform. If you are ever in need of consultation on your next investment opportunity, I would love to see how I can help you out. 

Hey Ben, 

Congratulations and Welcome! You're in good hands here in the BiggerPockets community. There are plenty of knowledge and resources available for you. If you ever are in need of consultation for financing on your future deals, I would be more than happy to help. 

Hey Emilio, 

Welcome to the BiggerPockets community. There's plenty of resources and knowledge here. If you ever need any consultation when it comes to financing on future deals, I would be more than happy to help. 

Hey Sarah,

I find the budget for a full bathroom to be high. Are you suggesting that it would cost $40-45k for both a new bathroom and bedroom?

Regarding Jonathan's point, it's crucial to evaluate the cost of these additions and calculate how long it will take to recover that investment.

I'm a bit unclear about your living arrangements. If you're currently in a 1/1 and intend to add an extra bathroom while using it for Airbnb, it seems like you'll also need to include an additional bedroom.

Hey Austin,

This question doesn't have a straightforward answer. The appraiser determines the value based on comparable properties (comps) in the area. If similar homes with 4 bedrooms and 2 bathrooms fetch higher prices than 3 bedrooms and 2 bathrooms with the same square footage, then there should be an increase in value.

I agree with Bruce's perspective in many cases. Each situation is unique, so your strategy depends on various factors. If your goal is to maximize rental income, adding a bedroom or bathroom often achieves that. However, if you aim for a higher property value, it hinges on the comparables in your market.

I suggest assessing the project's cost and comparing it to the values of similar properties nearby. If you're investing $10-15k to increase the property's value by the same amount, it might not be worthwhile.

Hope this helps clarify your decision-making process!

Hi Matthew,

Building on Jaron's point, it's important to consider the law of diminishing returns. If you're solely focused on extracting the maximum value from the property, you might end up working against yourself. Instead, prioritize enhancements to the key areas of the home that significantly impact its value, such as the bathrooms, kitchen, and opening up the floor plan, as discussed earlier in this thread.

Understanding your market and the preferences of potential buyers is crucial. For instance, in a family-oriented neighborhood, additional storage might enhance appeal and facilitate a quicker sale, albeit with a relatively modest increase in value.

It's essential to view these improvements from a value-added perspective. As the property spends more time on the market, the return on investment will decrease. Hence, strategizing around market dynamics can optimize your investment returns.

Welcome to the community Daniel. If you ever in need of consultation when it comes to financing on future deals, let me know. 

Hey Rachel. Welcome to the community filled with resources and a plethora of knowledge. You're in good hands. 

Hey Nooruldeen, welcome to the community. As you will see there are tons of resources and like-minded individuals here with more than a plethora of knowledge to help guide you down the correct path in your real estate journey. If you ever need any help on the financing for future deals I would be more than happy to help you out.