Tag Archive
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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Before and After Reno Pictures – The 70′s House is Done!
by Dave Peniuk
Julie took off to Las Vegas with the Divas from Diva Money Club and left me here to entertain and educate you while she’s away. When we looked at the Top 10 Blog Posts of 2010 we discovered that you folks like pictures. You even like pictures that have absolutely nothing to do with real estate. 
So, today I’ve got pictures for you. We have FINALLY finished our 70′s house renovation project. The appraiser has gone in and we’re getting it financed at the new value – which came in almost $100,000 higher than what we paid for it so we’re pretty happy. Granted we spent more on the project than we planned … but at least we’re still ahead!! Plus, we have already rented the upstairs unit out and are in the process of filling the main floor unit.
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Riding the Renovation Roller Coaster
by Julie Broad
Today we’re closing on a great 5 bedroom 2.5 bathroom home near the hospital in Nanaimo. We’re pretty excited because we already have two different people anxious to get into our rent to own program with this home. In fact, one of our prospective tenant buyers is so excited about the home he was angry with us when we put our sign out front of the property last week. He didn’t want us to offer the home to anyone else! So, we’re hopeful that we can get this one filled within hours of taking possession tomorrow – which would be pretty darn fantastic!
Meanwhile, we’re still working on the 70′s house renovation project. When I last wrote about the house we were going through a bit of a permit problem. The main issue at that time was that a lot of work on the home previous to us buying it, had been done without a permit which could cause a notation to go on title. Thankfully the building inspector didn’t see a need for that and we moved forward quickly through the initial permit process … then it stalled!
SERIOUSLY? Did Aliens Snatch September??
by Julie Broad
Can someone tell me how it is possibly October tomorrow? I am serious. I just can’t understand how September slipped away from me with barely a blip. After our recent alien sighting (see below) I am wondering if they had something to do with the disappearance of September.
Rental Property Renovation Before and After Pictures – What do you think??
by Julie Broad
All right … this is just going to be a picture show today. I just wanted to show you what about $6,000 and 4 days of labour got us in our latest home purchase. We had a total of 16 different people working away to make this magic happen … when it’s totally finished the final bill will probably be about $8,000 and 5 days of labour because the deck is not quite finished. I think you’ll agree it was money and time well spent!
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