Rehab Budgeting

2 Replies

Hello, I am very new to rental investment. I have been in my home for about 4 years now. My goal is to renovate my home and hopefully house hack a fourplex rental property and build my profile from there. I am in the planning stage and have also written a list of the items I would like to have updated in my home. My next goal would be planning out a budget. My biggest question is, how much money should I put into my home if I plan on renting the home out and not selling?

When you say "house hack" what exactly are you referring to? Turning your property into a 4-plex? Please clarify.

Hello, 

You will need to get an idea of what SFH (single family homes) rent for on your area and how nice they look. You then will know what kinds of things you'll need to do to your current home. Then when you move to the 4plex that you plan to buy you will be confident that your house will rent at the current rates.

Jacob

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