Purchase price: $900,000 Cash invested: $240,000 Sale price: $1,795,000 Contributors: Megan Halter This meticulously remodeled craftsman gem sits in the heart of Green Lake!

Updated and remodeled What was the outcome?

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

We have been investing, flipping, and remodeling houses for other investors in Central NY for years and the market right now is the best it has ever been in NY.

Good turnkey companies do this hundreds of times a year, (should) have in-house contractors that do the rehabs, have streamlined processes that result in consistent quality products and lower overheads per door (if you rehab a lot, you pay wholesale prices for things like toilets and flooring and HVACs), so it's easier for us to make money through forced appreciation because of economies of scale.So, if you want to put the work in and take on the risk, you could end up with a higher return doing something like a BRRRR at a distance - where basically you do what a turnkey company does, but then keep the house as a rental or sell it.

I have done some remodeling so I know how long it takes to do things yourself on weekends - thus most all of this work would be contracted out.As an investor,  how would you consider financing the updates?

Best case scenario you make like $150 a month after putting money aside for that furnace and hotter heater and rent it to someone for 10+ years who will turn it back over to you in need of ANOTHER remodel. 

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

Directly across from the sink/toilet and tucked behind the bathroom door when you open it there is a 36 x 36 shower.

Both properties were under market rent which allowed us to profit from raising rents to market levels, as well as additional rent increases realized from remodeling, and addition of amenities driving further value to the residents.