That would be a great upgrade.

The lot size, the pool, and the quiet cul-de-sac location provided great bones, and with the right upgrades and modern touches, it could command a much higher price in the competitive Hamptons market.

(This option would most likely add debt by pulling a loan against property 1 to payoff and do some upgrades to property 2, and all credit cards)Best, GeoffScott Trench made a spreadsheet for exactly this scenario!

A year ago I recently purchased my first multi family to house hack and I rant into a issue when the seller paid for a electrical upgrade to the home.

You can always start with the Simple Start subscription and upgrade if you find that it isn’t meeting your needs.  

This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?

For example, if local regulations require energy-efficient upgrades, prioritize these changes to avoid fines and demonstrate your commitment to sustainable practices.Case Study: In 2020, many cities introduced rent control measures.

While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?

Will you look to upgrade the property and then refi in the future?