Struggling to decide what to fix on first investment property

Member since 2022 · 24 posts · 14 votes

Hi all,

Context: Out of state investor (living in california, there's no way I can afford to invest here)

Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.

How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?

My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).

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Account Closed

Columbus, OH · Member since 2023 · 427 posts · 254 votes

Get in contact with a good contractor. A good contractor will differentiate between what you can do, should do, and NEED to do to keep the property in good shape. From there, prioritize immediate needs that must be fixed versus ones you can do somewhere down the road once the property has generated some cash.

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Michelle CrochetBusiness Member
Realtor · Burbank, CA · Member since 2019 · 81 posts · 62 votes
3y
Hi Bassma,
When deciding what repairs to make, you should prioritize any issues that could become safety hazards or cause further damage to the property if not addressed immediately. For example, if there are any electrical issues or water leaks, those should be addressed right away. In addition, any repairs that could lead to lower rents or tenant complaints should also be a priority.

In terms of budgeting, it's important to have a solid understanding of the costs associated with each repair or renovation project. You should get multiple quotes from contractors and factor in any unexpected costs or delays. It's also a good idea to have a contingency fund set aside in case of unexpected issues.

If you are planning on using the BRRRR strategy, it's important to budget for the "R" (rehab) portion of the strategy as well as the "B" (buy) portion. You should aim to have a clear understanding of the cost of repairs and renovations before you close on the property, so you can make sure that you have enough cash on hand to cover those costs.

Ultimately, it's important to have a solid plan in place and to be prepared for unexpected expenses. A good team of professionals, including a knowledgeable real estate agent and contractor, can help you navigate these issues and make informed decisions.
Hope this helps. Best of luck to you, Bassma! :)
[email protected]818-688-2062
3 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Michelle Crochet:

Hi Bassma,
When deciding what repairs to make, you should prioritize any issues that could become safety hazards or cause further damage to the property if not addressed immediately. For example, if there are any electrical issues or water leaks, those should be addressed right away. In addition, any repairs that could lead to lower rents or tenant complaints should also be a priority.

In terms of budgeting, it's important to have a solid understanding of the costs associated with each repair or renovation project. You should get multiple quotes from contractors and factor in any unexpected costs or delays. It's also a good idea to have a contingency fund set aside in case of unexpected issues.

If you are planning on using the BRRRR strategy, it's important to budget for the "R" (rehab) portion of the strategy as well as the "B" (buy) portion. You should aim to have a clear understanding of the cost of repairs and renovations before you close on the property, so you can make sure that you have enough cash on hand to cover those costs.

Ultimately, it's important to have a solid plan in place and to be prepared for unexpected expenses. A good team of professionals, including a knowledgeable real estate agent and contractor, can help you navigate these issues and make informed decisions.
Hope this helps. Best of luck to you, Bassma! :)

Thank you so much! This is helpful, I guess I'm just struggling on the rehab portion. Should I take my inspection, pass it on to a GC and ask them to take a look and provide their recommendations? Or should I have a GC walk the property rather than an inspection company in future purchases? So many questions as a newbie haha
0 Reply
Konstantin GinzburgPro Member
Member since 2021 · 376 posts · 242 votes
3y
Have you looked into finding a home warranty company that will cover the costs of those appliances such as the HVAC and water heater? One thing I have done in the past, is having the seller purchase a one year warranty for the property at closing and have been able to do several property repairs through the warranty. The only out of pocket cost for me had been the trade-call fee which was in the 100-200 range and the remaining parts and labor costs were covered by the warranty. I don't think a warranty would cover a roof but the rest of those items should fall under their scope (although you may need to wait for the appliance to actually fail before the warranty comes in and fixes it rather than proactively getting them changed out). Just make sure you have a good understanding of the scope of what your individual warranty would cover before signing up and shop around to find one that meets your needs.
1 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Konstantin Ginzburg:

Have you looked into finding a home warranty company that will cover the costs of those appliances such as the HVAC and water heater? One thing I have done in the past, is having the seller purchase a one year warranty for the property at closing and have been able to do several property repairs through the warranty. The only out of pocket cost for me had been the trade-call fee which was in the 100-200 range and the remaining parts and labor costs were covered by the warranty. I don't think a warranty would cover a roof but the rest of those items should fall under their scope (although you may need to wait for the appliance to actually fail before the warranty comes in and fixes it rather than proactively getting them changed out). Just make sure you have a good understanding of the scope of what your individual warranty would cover before signing up and shop around to find one that meets your needs.

That's a great idea!! I wouldn't have even thought of this, thank you!!
0 Reply
Jerry V.
Contractor · Richardson, TX · Member since 2022 · 265 posts · 146 votes
3y
Bassma, this is not personal (or is it?) but more so directed to everyone ... I would have thought that before people get into something they seem to know Nothing about, they would educate themselves on it first! Or, do people go to one site just to ask everyone for advice/help and try to learn from the replies?
Example: Oh, I don't know how to write a script for this software program/device.. can anyone help me with the code!? :P
Learn to drive, not just how to steer, before you get behind the wheel! :D
2 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @Bassma Mancilla:

Hi all,
Context: Out of state investor (living in california, there's no way I can afford to invest here)
Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.
How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?
My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).
Are those the only big ticket items you have? Is the HVAC still functioning well? Is HWT still providing decent pressure and hot water? If they are, there is no need to replace them right away. The roof on the other hand, depending on the market the property is currently in, are there any leaks that have to be addressed today? If the answer is no, you can do those repairs later. You can generate some rental income to offset those costs in a few months or so and not have to pony up those expenses right away.
In regards to having a GC walk the property, what is your relationship with them? Have you worked with them in the past? What team do you in the area?
2 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Jerry V.:

Bassma, this is not personal (or is it?) but more so directed to everyone ... I would have thought that before people get into something they seem to know Nothing about, they would educate themselves on it first! Or, do people go to one site just to ask everyone for advice/help and try to learn from the replies?
Example: Oh, I don't know how to write a script for this software program/device.. can anyone help me with the code!? :P
Learn to drive, not just how to steer, before you get behind the wheel! :D

See, I've been reading, listening to podcasts, am in a virtual investor group to ask questions, but I'm trying to utilize the forums to learn even more. I've heard of many people utilizing the forums to learn, isn't that the point?
4 Reply
Account Closed
Columbus, OH · Member since 2023 · 427 posts · 254 votes
3y
Get in contact with a good contractor. A good contractor will differentiate between what you can do, should do, and NEED to do to keep the property in good shape. From there, prioritize immediate needs that must be fixed versus ones you can do somewhere down the road once the property has generated some cash.
5 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @Bassma Mancilla:

Quote from @Jerry V.:

Bassma, this is not personal (or is it?) but more so directed to everyone ... I would have thought that before people get into something they seem to know Nothing about, they would educate themselves on it first! Or, do people go to one site just to ask everyone for advice/help and try to learn from the replies?

Example: Oh, I don't know how to write a script for this software program/device.. can anyone help me with the code!? :P

Learn to drive, not just how to steer, before you get behind the wheel! :D

See, I've been reading, listening to podcasts, am in a virtual investor group to ask questions, but I'm trying to utilize the forums to learn even more. I've heard of many people utilizing the forums to learn, isn't that the point?

What I think he meant was, before submitting any offers familiarize yourself with what can possibly need to be replaced and when it needs to be replaced.
0 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Vadim F.:

Quote from @Bassma Mancilla:

Hi all,

Context: Out of state investor (living in california, there's no way I can afford to invest here)

Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.

How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?

My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).

Are those the only big ticket items you have? Is the HVAC still functioning well? Is HWT still providing decent pressure and hot water? If they are, there is no need to replace them right away. The roof on the other hand, depending on the market the property is currently in, are there any leaks that have to be addressed today? If the answer is no, you can do those repairs later. You can generate some rental income to offset those costs in a few months or so and not have to pony up those expenses right away.
In regards to having a GC walk the property, what is your relationship with them? Have you worked with them in the past? What team do you in the area?

So there are a few indicators of water leak but not active drips (per the inspection). While the hot water tank is functioning, the HVAC likely isn't. There's corrosion present, an inoperable thermostat, and it's about 20 years old at this point. The hwt has some corrosion and is just older.
As far as a GC, i have one referred by a friend that I can ask for input on the property, but my team is mainly my agent and he referred me to a property management company.
0 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Vadim F.:

Quote from @Bassma Mancilla:

Quote from @Jerry V.:

Bassma, this is not personal (or is it?) but more so directed to everyone ... I would have thought that before people get into something they seem to know Nothing about, they would educate themselves on it first! Or, do people go to one site just to ask everyone for advice/help and try to learn from the replies?

Example: Oh, I don't know how to write a script for this software program/device.. can anyone help me with the code!? :P

Learn to drive, not just how to steer, before you get behind the wheel! :D

See, I've been reading, listening to podcasts, am in a virtual investor group to ask questions, but I'm trying to utilize the forums to learn even more. I've heard of many people utilizing the forums to learn, isn't that the point?

What I think he meant was, before submitting any offers familiarize yourself with what can possibly need to be replaced and when it needs to be replaced.

That's fair, I mean, I have a general idea, but like I'm not sure if there are specific things that need to be addressed right away or things that can wait.
0 Reply
Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
3y
@Bassma Mancilla What details did you know and not know before buying this property? HVAC's and water heaters have DOM printed on them (most of the time). They shouldn't be a surprise. I would know this before an offer is made. The property should be functional and safe regardless of the décor. I'd spend every dime you have on a replacement roof, HVAC repair/replacement, moisture control, and then tackle a kitchen or bath if the budget supports it.

Who ever mentioned a home warranty must be joking. If you like wasting money go right ahead. I was convinced to pay for one years ago. Long story short they wouldn't cover s***. It couldn't expire fast enough.
4 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Jaron Walling:

@Bassma Mancilla What details did you know and not know before buying this property? HVAC's and water heaters have DOM printed on them (most of the time). They shouldn't be a surprise. I would know this before an offer is made. The property should be functional and safe regardless of the décor. I'd spend every dime you have on a replacement roof, HVAC repair/replacement, moisture control, and then tackle a kitchen or bath if the budget supports it.

Who ever mentioned a home warranty must be joking. If you like wasting money go right ahead. I was convinced to pay for one years ago. Long story short they wouldn't cover s***. It couldn't expire fast enough.

So, I'm buying out of state, relying on the inspection for the walk through; I haven't bought it but offered on it. I can still walk away, but like I don't want to keep making offers and getting inspections back and being overwhelmed.
2 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @Bassma Mancilla:

Quote from @Vadim F.:

Quote from @Bassma Mancilla:

Hi all,

Context: Out of state investor (living in california, there's no way I can afford to invest here)

Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.

How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?

My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).

Are those the only big ticket items you have? Is the HVAC still functioning well? Is HWT still providing decent pressure and hot water? If they are, there is no need to replace them right away. The roof on the other hand, depending on the market the property is currently in, are there any leaks that have to be addressed today? If the answer is no, you can do those repairs later. You can generate some rental income to offset those costs in a few months or so and not have to pony up those expenses right away.

In regards to having a GC walk the property, what is your relationship with them? Have you worked with them in the past? What team do you in the area?

So there are a few indicators of water leak but not active drips (per the inspection). While the hot water tank is functioning, the HVAC likely isn't. There's corrosion present, an inoperable thermostat, and it's about 20 years old at this point. The hwt has some corrosion and is just older.
As far as a GC, i have one referred by a friend that I can ask for input on the property, but my team is mainly my agent and he referred me to a property management company.

Have a licensed hvac technician come and evaluate it. A few parts may have it operating just fine and save you the 5-7k to replace it. My rule of thumb is if it’s repairable I’ll fix but not replace it. But this all depends on who you have doing the work and how well you know them.
Before jumping on anything familiarize yourself with the cost of repairs or replacement in the area you are investing.
1 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
@Bassma Mancilla also talk with the inspector. They will sometimes have an idea of what a repair may cost or even if it’s repairable. Many were or still are licensed GCs.
2 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Vadim F.:

@Bassma Mancilla also talk with the inspector. They will sometimes have an idea of what a repair may cost or even if it’s repairable. Many were or still are licensed GCs.

Oh, i didn't know that! Thank you! Maybe I'll reach out to my inspector then
0 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @Bassma Mancilla:

Quote from @Vadim F.:

@Bassma Mancilla also talk with the inspector. They will sometimes have an idea of what a repair may cost or even if it’s repairable. Many were or still are licensed GCs.

Oh, i didn't know that! Thank you! Maybe I'll reach out to my inspector then

Don't rush the process. I am in the same boat as you with trying to acquire a rental. I feel like my inspector is going to make a living off of me alone with how many homes I have been sending him to inspect. This week alone, was 3 properties all 300-350 each. Thats 1k out of my pocket and no return. 1 property he called right after he was done and said its a solid as they get, with only some minor work that is needed.
Not sure what market you are looking at, definitely do your research before submitting offers. If you are working with a knowledgeable agent, have them walk the property first. If they know what they are doing, they will be able to spot issues right away,
1 Reply
Bassma Mancilla
OP
Member since 2022 · 24 posts · 14 votes
3y
Quote from @Vadim F.:

Quote from @Bassma Mancilla:

Quote from @Vadim F.:

@Bassma Mancilla also talk with the inspector. They will sometimes have an idea of what a repair may cost or even if it’s repairable. Many were or still are licensed GCs.

Oh, i didn't know that! Thank you! Maybe I'll reach out to my inspector then

Don't rush the process. I am in the same boat as you with trying to acquire a rental. I feel like my inspector is going to make a living off of me alone with how many homes I have been sending him to inspect. This week alone, was 3 properties all 300-350 each. Thats 1k out of my pocket and no return. 1 property he called right after he was done and said its a solid as they get, with only some minor work that is needed.
Not sure what market you are looking at, definitely do your research before submitting offers. If you are working with a knowledgeable agent, have them walk the property first. If they know what they are doing, they will be able to spot issues right away,

That makes me feel better! I've already paid for 2 inspections, so about $800 gone with no property to show for it, but I'd rather be out that than thousands for huge expenses.
Maybe when my agent texts me back I'll ask him about walking the properties first before we even offer on it, or I can get a friend to or something. It's just half the deals my agent sends me are off market, so it's not like they have a formal showing. Sometimes they're tenant occupied which could create an additional obstacle in terms of walking it.
0 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @Bassma Mancilla:

Quote from @Vadim F.:

Quote from @Bassma Mancilla:

Quote from @Vadim F.:

@Bassma Mancilla also talk with the inspector. They will sometimes have an idea of what a repair may cost or even if it’s repairable. Many were or still are licensed GCs.

Oh, i didn't know that! Thank you! Maybe I'll reach out to my inspector then

Don't rush the process. I am in the same boat as you with trying to acquire a rental. I feel like my inspector is going to make a living off of me alone with how many homes I have been sending him to inspect. This week alone, was 3 properties all 300-350 each. Thats 1k out of my pocket and no return. 1 property he called right after he was done and said its a solid as they get, with only some minor work that is needed.

Not sure what market you are looking at, definitely do your research before submitting offers. If you are working with a knowledgeable agent, have them walk the property first. If they know what they are doing, they will be able to spot issues right away,

That makes me feel better! I've already paid for 2 inspections, so about $800 gone with no property to show for it, but I'd rather be out that than thousands for huge expenses.
Maybe when my agent texts me back I'll ask him about walking the properties first before we even offer on it, or I can get a friend to or something. It's just half the deals my agent sends me are off market, so it's not like they have a formal showing. Sometimes they're tenant occupied which could create an additional obstacle in terms of walking it.

If they are off market thats even better.....if they are tenant occupied make them contingent on inspection which I'm sure you are doing. But before scheduling have your agent walk them.
0 Reply
Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Use your realtor and contractor to guide you. This can be a good test to see if they are worth keeping on or not as well. The good ones understand what the market needs and how to stay investor friendly.
1 Reply
Lucas Hutchins
Member since 2023 · 2 posts · 1 vote
3y
Quote from @Bassma Mancilla:

Hi all,
Context: Out of state investor (living in california, there's no way I can afford to invest here)
Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.
How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?
My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).
Check out a 2-10 Home warranty. Definitely worth it, We had an hvac completely go out on one of our properties, it ended up being around $12,000 for replacement and the warranty company ended up covering almost the full replacement. This was a really old system as well around 20-21 years old. Plus you get good coverage on a bunch of other things, electrical, plumbing, roof ect.. (depending on which one you go with)
not all home warranty companies will cover an hvac replacement like this though, some just cover up to a couple thousand

0 Reply
Ryan KellyBusiness Member
Real Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
3y
@Bassma Mancilla ask yourself “Do I want a fixer upper? Or do I want something more updated?” This may be your dilemma. Many investors love fixer uppers as they can purchase them at a discount and add equity to the property themself. However, this isn’t for everyone. If you are uncomfortable with properties that need major projects, simply pivot to one’s that are in better condition. If you are good with fixer uppers, spend time understanding the costs of repairs and specific projects. This will benefit you in your real estate journey. Don’t stop moving forward, keep learning as you go.
[email protected]512-674-5478
Ryan Kelly Group - Keller Williams5112 Reviews
Website View Page
3 Reply
David Dachtera
Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
3y
Quote from @Bassma Mancilla:

Hi all,
Context: Out of state investor (living in california, there's no way I can afford to invest here)
Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.
How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?
My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).

What I would do ...
Take care of the roof first.
If the HVAC and hot water are still working, bump them down on the priority list.
Address the water intrusion (almost tied with the roof for the #1 position).
Can you still exercise your inspection contingency rights or has that expired?
0 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
3y
@Bassma Mancilla
are you still within your inspection period and able to negotiate? or did you accept and lock on a price?
and can you provide ALL THE NUMBERS? a lot of folks are responding here without necessary details and we're not looking BIG PICTURE.
what's your down payment, PITI, what are the rest of your expenses? what's estimated rent? what is this going to do to your financial picture if you sink 50K cash into it?
if you buy for 80K and put 30K in and comps are 100K... that's not only not a BRRRR, but it's not a good deal. to BRRRR you have to be all in WAY below the comps. make sense?
looking for more info and we can try to help!
2 Reply
James Hamling
Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
3y
Quote from @Bassma Mancilla:

Hi all,
Context: Out of state investor (living in california, there's no way I can afford to invest here)
Made an offer, got it accepted. Second time this has happened and again, paid for an inspection only to find big cap ex items needed to be addressed. It's not that I didn't expect to have some things to update when buying but I didn't expect a 30 year old roof, HVAC and water heater at the end of their life, along with some water intrusion.
How do you decide what is worth fixing/addressing, and what isn't right away? How do you budget for these items if you go the route of a BRRRR? Any advice for not only a first time homebuyer, but first time investor?
My agent says it's not bad when purchase price is around 80k but comps are around 100-110k; so maybe if i fix the immediate things and then refinance and pull cash out a year later it would be fine (assuming similar rates, but a lower rate would be even better).

I use a double list system.
First, you write 3 categories and put each item into which category it fits: NEED to address, SHOULD address, WANT to address.
Than in each designate if NOT done, will it cause ADDITIONAL damages.
For example, a roof WILL cause additional damage if not done. A HVAC, while very important, will not cause additional damages.
Then, with that, you can build a PRIORITY list. Those on NEED that will cause ADDITIONAL damages, those are of course primary. Then depending, maybe it's rest of NEED items, or maybe SHOULD with ADDITIONAL damages, then rest of NEED etc.
And LASTLY, you ask yourself HOW can these be done to ADD ROI. A roof is tough, but maybe a different shingle is a minimal upgrade and gives better ROI. Maybe swapping a tank water heater for on-demand, or maybe a good time to split services. Point is, once you have priority list you ask yourself and press yourself hard to answer that HOW to add ROI question. Try to turn lemons into fruit-punch.
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