How Much to Invest in Rehabbing an Existing Rental Property
Hi, I am new to re investing and the forum. I have a condo that I've owned for about twenty years. I've rented it to tenants for the last 16 years or so and right now I'm living in it. I want to do some rehab work to it and put it back on the rental market in the summer.
Does anyone have suggestions on how I can determine how much I should invest in the rehab and how long I should expect to recoup my investment? I am assuming cash flow (from the rental) will be a part of the determining factors, correct? Any information would be helpful.
Thank you.
Brent