Is it with only the upgrade?

Take the time to break down what needs to be repaired and what upgrades you will be doing.

Using a 1031 to upgrade to a two-family could help you reduce or eliminate the $1,000 out-of-pocket expense you’re paying now.Also, condos often come with HOA fees that limit cash flow, so be mindful of their impact.

You will not only achieve a status upgrade in the market of RE investing, you are given the opportunity to have the knowledge to back it up.

These properties will have very few or no upgraded amenities, and rents will be below market.

Upgrading countertops to granite or quartz, installing high-end appliances, modern cabinetry, and stylish fixtures can significantly raise ARV.

As I said earlier, this is strictly for investment purposes.The property does not have to be turnkey, if there is room for improvement that's of no concern as we both have the skill set to invest in whatever upgrades are required.

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

I would be more hesitant if they were added on (new plumbing and electrical) vs just upgrades to existing.

Purchase price: $165,000 Cash invested: $20,000 I bought a duplex in Racine that needed a lot of cosmetic upgrades.