So with all this talk about cap ex I was wondering what you thought about using wear resistant materials in rehabs. my business model is to by extremely distressed and do full rehabs. I will list some and rent the others. Thoughts on using metal roofs, stained concrete floors, quartz counter tops etc. I want to alleviate big ticket repairs 20 years down the line.
Metal roofs are way too expensive - I'd say ROI is not there. Just put a regular old roof on, and replace it every 15-30 years depending on how it holds up. Countertops, and other interior items could have a payoff if the area demands higher rents for premium features. Just gotta run the numbers.
There are two factors at play here. The first is the cost element. Can you recover your cost when you sell?
The second is the demand factor. Take a look at other houses in your price point, is the semi-indestructable roof something that is included or expected in other high end houses in your area?
I just went through this with Hardy Siding in my area. I still havent seen anyone use this product in my area. So we looked at the consumer and we wondered if any of our buyers would even understand the value added. What we concluded is that we would need to educate the buyer about the product. The problem occured when we found out that buyers were just looking at our price on the MLS and walking past us rather that stopping in so we could educate them. We sold our house for more than asking but it took longer for us to get a buyer.
I hope that helps
the roof I would go with a 25 year shingle if I could that would be a better cost point ,metal the labor and material will push the cost up but has to do with the return that you can get offf your dollar. As for the Hardy board the cost of the material and the cost of the of the labor will be more at the end of the day can you get a better return off of putting it in, Alot of the peole we put hardy board or metal roof for in some area have no idea and some area we install it everyone knows what it is. I would keep the same material that is being used in that area is allways a good rule of thumb
After more research I most certainly agree with you on choosing the asphalt over the metal. I'm reading that metal roofs could cost up to 3 times a asphalt roof. I don't think ill be around in 3 asphalt roof lifespans. lol.
Good to know man. It looks so good but maintenance is something I need to steer clear of. What are some of the issues your having with it?
Join the Largest Real Estate Investing Community
Basic membership is free, forever.