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

That's the first question as real estate is like another job and if you are upgrading properties it's like running a daycare. also what experience do you have?

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

We're looking for more turnkey properties, or only need a few upgrades/changes.

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

I upgraded the “bones” of the property and the cosmetics.

There are a lot of other design upgrades you could make too.2.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

it sounds like you upgraded your management company for sure. 

Thoughtful upgrades and efficient project management made this a successful venture, highlighting the strength of our partnership and commitment to delivering high-quality results.