What adds to after repair value (ARV)?
Hello BP:
Happy post Thanksgiving. Hope the festive season continues to be...festive, fun, and fulfilling for everyone.
My business partner and I will close on a one bedroom condo next Tuesday. It is in decent shape, and is in move in ready condition. It is in the Lakeview area in Chicago; definitely an "A" location. The kitchen is outdated with old appliances. The bathroom could use a new vanity with tiles that are not easy on the eyes. Everything is working.
We have a limited budget of $6,000 and would like to put it towards upgrading the unit.
Our goal is to increase the ARV. What are your recommendations to best use the $6,000 towards upgrades and improvements?
Thank you, everyone.