The 3 Renovations That Are a Waste of Money In a Rental Property
| June 5, 2018
The 3 Renovations That Are A Waste Of Money In A Rental Property
The 3 Renovations That Are a Waste of Money In a Rental Property
The 3 Renovations That Are A Waste Of Money In A Rental Property
A successful landlord knows that a rental property rehab should focus on the main mechanicals and main systems of the house. When you start spending money that doesn’t need to be spent then you cut into your ROI or return on investment. In this video Clayton shows you 3 key renovations are a total waste of money in a rental property.
The 3 Renovations That Are A Waste Of Money In A Rental Property
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Clayton! I'm a 33 year old landlord with 21 units in NC. I came across your channel and thought, "wait… what? Is this the guy from Fox News!?". Haven't watched F&F lately, didn't realize you left last year. Never knew about your real estate background… and now I'm watching these videos, and I'm like wow, this dude is one of us! I never pictured a big name in broadcasting advising me to stick with my laminate countertops. So down to earth! Man, I knew I liked you. Thanks!
good advice. my wife wanna buy this house but listed for 190000. listed in nov2017 for 210000. listed for 6 month now only 190000 and i still think the house should go down more because Zillow estimate 174000. but i willing to pay 183000. what should i do? any advice anyone? i buying a house not to invest but i want to buy so rental can help me payoff house in 7 yrs. needed advice.
Please no weird jiggle cam on a hoverboard… I'm getting sick
When land lording, make the house a reasonable livable space. Don't make it a palace. When it comes to selling the house, put upgrades in the kitchen and bathroom. If the neighborhood upgraded from B class to A class, reconsider the master suite.
I only buy small 1 floor 1 or 2 bedroom homes
Great info! Did you have a selfie stick or a stabilizer while shooting this video?
Hi Clayton,
Great content I really enjoyed this video! You had mentioned not combining rooms to make a master suite but what about combining a room with a one car garage and adding a second bathroom? My home is a 3 bed 1 bath and the 3rd room separates the garage from the rest of the house ( I think it was an old breezeway). Both the garage and third room are in pretty poor shape and need a fair amount of repairs before I do anything anyways and the current bathroom is just pitiful. Would it make more sense that way for better rental/sale returns? I would love to hear your thoughts.
Thank you,
Sam
Very hard to hear your voice
Clayton..love the video. We have a primary residence that we are going to either rent or selling in a few years (C neighborhood) to pursue rentals. The house is paid off. The kitchen is currently being remodeled.. What type of countertop would be best.We go back and forth on it..We will do the work ourselves; my husband is a contractor. Thoughts?
Any thoughts on carpet vs laminate, vinyl or ceramic tile?
We have been using 48 cent per foot carpet and 48 cent per foot laminate floors.
The laminate floors give us trouble when people get it wet and tile sounds tempting but gets to be more expensive because of the install and like any material it can break and need repairs but that tile no longer exists. And carpet gets ruined pretty quickly depending on tenants.
What have you seen to be the better performer on your rentals?
renting vs buying hot water tanks? on my new property the last owner rented his tanks that came with free service, just the math didnt make senes to me. you can buy a water tank for $400 or you can rent it for $20 a month so you could pay it off in under 2 years.
if you are not paying utilities is it worth upgrading windows?
thaughts?
thank you for sharing the experience.
Thought that shark frame was a toilet seat cover dispenser 😄
Great video 👍🏼
thanks for replying to my last comment! I just subscribed. You mentioned you guys do C class homes for 40-50k. Do I give you the 50k? Or do we use debt to finance the home and put a percentage down, but then again interest would be high for me being a teenager…. I really would like to learn these things. Do you guys offer a course? Or someway to learn in detail ways? I know for sure I'd be willing to pay thousands for that kind of information. thanks!
Makes sense thank you!