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Rehabbing & House Flipping

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Eric Dufault
  • Real Estate Agent
  • Centerville, MA
18
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60
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Basic Cosmetic Rehab for Rental Property or Multifamily Rental Property

Eric Dufault
  • Real Estate Agent
  • Centerville, MA
Posted Mar 24 2014, 11:18

Hey Everyone,

I'm new to the site and so far have been blown away by the amount of input everyone who has experience is willing to share with someone like myself. Thank you for that. I'm in the housing market looking at multifamily rental properties and am finding a lot of value in homes that are outdated and need to be updated. I've demolished to studs and rennovated one foreclosure in the past and can say that I am somewhat confident in my ability to perform a cosmetic rehab ie. new sheetrock, flooring, cabinets, appliances, etc. I do have a few questions as to what you feel are solid investments in the above if I am looking to hold a property long term as a rental.

1) What upgrades improve the price you can ask for rent?

2) What uprgrades/materials should I be looking into doing if I plan on turning a project into a long term rental property?

3) What type of improvements should I be comfortable doing myself vs contracting out besides electrical/plumbing/HVAC?

4) What do you look for in a home that could be a successful cosmetic rehab or even as a flip?

5) What tools should I invest in if I plan on doing this every couple of years?

I understand these are broad questions but any information or direction you guys could provide would be appreciated. Thanks for your time and have a great day.

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