Real Estate Investing: How to Pay for Renovations

Earlier this week we unveiled the before and after pictures of our character home renovation project. And last year we shared pictures of a major renovation project we did where we added a legal suite. One of the best things about being a real estate investor is the opportunity to add value through improvements. And, done right, renovations can add more value than you put in, increase cash flow and attract better tenants or buyers. The only problem with renovating rental property: IT COSTS MONEY!

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Tiny Tip for Massive Results When Raising Money for Your Deals

Happy Monday!!

It’s a big week around our office because we’re now full steam ahead working on our latest acquisition: an old character home renovation project.

We took possession on Wednesday and we’ve already ripped off four layers of roofing, pulled out the toilets, tubs and started repairing the floors. Over the next couple of months we’re going to change out the stucco for some brightly coloured HardiePlank siding, rip down the ugly rat caves (old garage and sheds), and give this home a whole new look. We’ll be putting it into our rental pool while we evaluate all the options for the lot (because the highest and best use of this particular lot is not a single family home).

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