Updated over 9 years ago on . Most recent reply
"Dress it up" or keep it "good enough" - How do you decide?
I am curious to know how people run the math on a "facelift" for a buy and hold rental.
In my case it is a $55,000.00 property. Considering up to $5,000.00 in upgrades. This is assuming that I am going big. Nice counters, new tile, and other higher cost upgrades.
Rent without upgrades $835.00. With upgrades $885.00 possibly more.
My simple math says it will take me 8.3 years to get my upgrade investment back. Of course, I will also be able to sell for more as well.
Your thoughts?