These loans provide homeowners with the necessary funds to undertake projects such as remodeling kitchens, renovating bathrooms, adding extra rooms, or improving energy efficiency.

The bathroom renovation proved to be a major undertaking, requiring professional assistance.

Before closing on an investment property, I undertake several crucial due diligence steps to ensure I make an informed decision.

In this blog post, we'll discuss some key factors to look out for when considering older multi-family properties, and why it may be wise to approach them with caution.The Importance of Renovation:Unless an older multi-family property has already undergone a complete gut renovation recently or you plan on undertaking that work yourself, it's generally advisable to be cautious.

For example, when my first build neared completion, I had a great conversation with RTR to discuss my rental options vs. selling and undertaking a 1031 exchange into multiple RTR investment opportunities.

That was a massive undertaking for a newbie.

Here are some key aspects to keep in mind when undertaking a house renovation:1.

Yes, it can be done, however it is a huge undertaking and (as with any investment) the numbers have to be right.

Between what you said, and discussion with a neighbor who is just about finished adding a level to his house, there's no way I'm undertaking this project LOL.

A kitchen rehab is a big undertaking, but if you can get the free part in writing and monitor the workmanship, go for it.