About this episode
Which rental renovations give you the biggest bang for your buck , turning a few thousand dollars of materials and labor into hundreds of more dollars of rent per month and tens of thousands more in home value ? Today, we’re going through each tier of rental renovations: easy and cheap ( $5,000 or under), moderately challenging and expensive ( $25,000 – $50,000 ), and hard/pro-level ( $50,000+ ). This will give you a roadmap of high-ROI rental renovations you can make right now to increase your property’s value and rent. Why are these rental renovations (AKA value-add) so important right now? Because with so many investors and homebuyers sitting out of the market, you can take your pick of homes with overlooked potential and turn them into high-value investment properties . This not only makes tenants happier due to new renovations and upgrades but also gets you higher rents and wealth-building equity to boot. We’ll start with some easy ones—painting, tiling, adding backsplashes , etc.—and work our way up to the pro-level renovations like adding square footage and turning a single-family home into a multifamily . Based on your experience, you can go either route, but both have enormous potential to turn your initial investment into a killer real estate deal . In This Episode We Cover: How to increase your property’s value (and rents) with high- ROI rental renovations The easiest (and cheapest) upgrades to make that take little time What to look for when buying a home for “value-add” and signs of money-making potential The one appliance you should NEVER include in your rental property The easy bathroom conversion that will massively boost your home’s equity Pro-level rental renovations that could make you six figures And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-564 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com . Learn more about your ad choices. Visit megaphone.fm/adchoices