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Real investing questions
Hi I am new to real estate investing have a few questions to ask like how long do you stay in your rental property to fix it? What are the main areas of focus on the home
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Michael Smythe
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Michael Smythe
#1 Classifieds Contributor
Property Manager
#1 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
Assuming you're alluding to living in a property while you fix it to eventually rent it out?
1) Length of stay: depends on how much work you have to do, but the shorter the better.
2) Focus: Kitchen & baths are the main areas. All other rooms are just a big box. You do want to upgrade windows if old and go with hard-surface flooring.
By the way, what you're planning to do is referred to as BRRR: Buy, Renovate, Refinance (to pull your money back out) and Rent.
- Michael Smythe
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