Is there a program free or paid on kitchen or bathroom design base on sq footage? so we can visually see what we need to do and how to free space or better utilize limited spaces in each unit?.
I understand each market is different, but i fee like having stainless steal feel certifed used appliances with nice basic kitchen and bathroom can go a long way.
The key to remodeling a rental is to know your market and know what your competition is providing. The biggest mistake you can make is spending a lot of money on an apartment rehab when the market isn't even demanding it.
@Michael Noto points taken!, so you believe looking at comps or other local like properties and see what they offer?.
How do you remodel?
Take out the bad/unattractive stuff and put in the good/attractive stuff. :)
Hopefully you will make the place look better than it was. Truthfully, you want to try to maximize every dollar you put in. If it's not going to produce a good return (get a better renter, sell for a higher price) then you might re-evaluate putting that dollar elsewhere.
@dawn good point!
How you remodel a home depends on the area you are investing in. If it is a higher end neighborhood then go with stainless steel, but if the properties have a lower price point, then you could go with black or white appliances. They look nice and are budget friendly.
The rentals I had in Newport Beach rented for $2,650 each. They were 2 beds, 2 baths. They were clean, neutral colored walls with black appliances in one unit, and white in the other. I had no problem keeping them rented.
I shop for my appliances at discounted stores, or wholesale warehouses. Pacific Sales usually has the best prices in my area.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing