All Forum Posts by: Ray Majeau

Agree with Luan and Colleen, I renovated an apartment in the beginning of 2023...1/2 DIY for small stuff and 1/2 contractors. New bath tub/shower, tiled bathroom floors and sub floor, new lighting, vanity etc. Apartment floors were hardwoods and some boards replaced and all new poly. Kitchen renovation included new cabinets, counter tops, sink, tile in the pantry, a few new appliances (dishwasher plumbing & elec were not there previously) and finishes throughout. Apartment was newly painted as well. I spent north of 25k. Nothing crazy high end. It's not a cheap endeavor unfortunately, but I was happy with the result. 

First time forum poster here. I own two multi-family rental properties and I’m looking toward purchasing a 3rd. However, the first one has some deferred maintenance and shoddy repairs/updates done by the previous owner.we estimate we’re looking at about 25k worth of work by a contractor to get it done. We have cash to pay it, but also don’t want to deplete our cash reserves and miss out on a buying opportunity? Is it better to take the equity and pay the loan with interest off quicker perhaps? Maybe my question is too vague, but what is the BP community’s opinion on how they go about such a thing? Thanks for your help!