Real Estate Investing: How I spent $50,000 on RENOVATION

Описание: If you're into Real Estate Investing it won't be long till you're faced with renovation. See my renovation before and after pictures. Before and after house renovation that will blow your mind. Discover HOW I SAVED THIS DEAL from falling apart just minutes before I lost the deal. Hint: you won't believe what I did. Also, learn why I spent $50,000 on a real estate investment property renovation that is intended to be a rental. In this video I break down all the financials of this disaster real estate that ended up going way over budget.



For those who are new to the channel, 'm J from the Bay, and at the time of this video I own 9 REAL ESTATE buy and hold investment properties in Northern California. This is exactly what I love to do. Nothing is more exciting for me than snatching up a dilapidated property that is in need of some TLC and giving it a remodel. After I remodel it, I quickly rent it out by finding a great tenant.



In this video I share the story about how I got my most recent buy and hold investment property and how I made the numbers work. This property was purchased in the bay area of northern California where real estate comes at a premium. Because of these high prices many folks (falsely) claim that the numbers do no work for buy and hold real estate investments that need to carry a mortgage. They might say only an all cash offer will pan out in expensive markets like Northern California. In this video I show you exactly why that isn't true. Real estate investing can work in any market as long as one plays the game correctly.



I had a major battle trying to close the deal on this one. You're going to want to hear the story about that. I almost didn't get approved for the loan but in the last minutes before the deal fell all apart I did something really desperate that saved the deal.



I talk about the specific upgrades that I added including luxury vinyl planks, recessed lighting, stainless steal appliances, tall baseboards and other upgrades. The results are incredible.



I took this dump of a property and transformed it into a beautiful Gem that will make a great financial wealth builder and an incredible long term hold in my real estate portfolio.



I also share with you the cash flow that I get monthly from this deal. Getting passive income from buy and hold real estate investing is among the best ways to start building wealth and becoming financially free that I can imagine.



If you're holding off on buying real estate because you're worried about high unemployment or that people in general are making less money then I encourage you to watch this video all the way through to at least consider what a buy and hold real estate investment property can do for you. I share exactly what I did and how I was able to generate cash flow with this property and the others that I own. The potential is incredible. Real estate is an incredible wealth building vehicle.



If you're looking for a fixer upper rental property to fix up, remodel, renovate (or whatever you want to call it), try to find one that has minor cosmetic damage. Tearing out walls, redoing whole plumbing and electrical systems as I did here is probably a bit much to handle if you're a new investor. I recommend not getting in over your head. Instead look for something that needs paint and carpet. ARV means After Repair Value.




Also stick to stuff that give folks a wow factor. For example changing all the wall sockets doesn't impress people much because they really don't SEE the improvements. Things people see and touch get you the most bang for your buck, like new paint and carpet. Also new countertops and cabinets can be installed for repetitively cheap if you find the right contractor.



I would avoid doing things just because you can. Ask yourself if you really need it and if you're going to be able to charge a higher rent because of it. For example before switching out all of the windows for double pane glass, consider if you really need to do that or not. Simple remodels that make the property look clean, fresh and new are the best kinds of renovations you can do for you buy and hold investment properties.



A good rehab will also fix things that are about to need replaced. Such as a water heater. Those are such a head ache that if I see an hold one, I might consider just replacing it even if I can squeeze a few more months out of it.



If you have any questions at all about what specific upgrades I did in this video or where I put my money, Please ask me down in the comments. I can share anything you would like to know, from what light fixtures and toilet I installed to how I qualified for the funding. I am here to help.



I hope you enjoy this video as much as I enjoyed making it and sharing it with you.


#RealEstateInvesting #RealEstate #RealEstateRenovation
Thank you :)