Do I rehab a 2 bed 1 bath to a 3 bed 2 bath

[Neil Tollner]

Hi All!

curious if I should: 
- rehab a nice 2 bed 1 bath to a 3 bed 2 bath

or 

- buy another multi family and rehab later

we have a 2.875% rate on our multi currently. Would do a cash out refi after the Reno at whatever rate that may be then to use on next property.

Thank you  in advance for any insight

[Bruce Woodruff]

1100 SF is too small IMHO. Best to save your money on this one. I would only spend money if you can absolutely get that ROI quickly. Sounds like a $50k remodel for maybe an additional $500 a month? 100 months? Nope.....