The Meadow Rental Remodel
Final Walk-through Video
This is the final property walk-through on our last single-family remodel project (about 12 minute video). I summarize most of the upgrades/improvements as I go. For a deeper dive into my thought process, check-out out the presentation below the video.
A major item to note – this was not a remodel for sale project; this was a rental grade remodel. The difference can be huge depending on the neighborhood of the property, and for this neighborhood, it is massive.
As you watch the video you will see something and think “well, he missed that.” Ah, no, I did not. I intentionally did not complete certain items due to there was no or very little return on the investment.
I could have easily spent another $15,000-20,000 on the remodel; however, that extra work and investment would only have brought in an additional $100 in rent per month and $25,000 in additional property value, which would be a horrible return on investment for a rental property.
When we decide to sell the property many years down the road (target hold is 10+ years), the property will need to be remodeled for sale regardless of the level of remodeling completed now; essentially that would make any additional investment into the property at this time lost money (aka a financial loss).
This remodel was designed to maximize return on investment while providing a safe, quality rental home and protecting long term property value.
If you have any questions about this remodel, head over to my Facebook page and send me a message – https://www.facebook.com/aaronmsilverman/.
Remodel Summary and Before/After Pictures
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