What Is The Best Bang For The Buck
So I won the bid on a house and I'm waiting for the closing date. I have the money down (10%). If I put 10% down my ROI isn't that high. Maybe 20%. If I put next to nothing down (only closing costs) I get like a 55% ROI. Now that's all well and good but I dont' get as much money per month back if I do that. So I got to thinking. Maybe I can put no money down and take some of the money I was going to put into the down payment and fix up the property more and get the rent up a bit higher. Here is where you come in. What would make the best bang for the buck for fixing up a property?
1) Paint Cheap.. and makes a place look good if you take care to do a decent job
2) ...
3) ...
Help me out here .. what would the next few be that are cheap and give the property good value?
I was thinking maybe a new faucet in the kitchen.. maybe a MOWEN faucet. ??? Not sure. Your thoughts?
[addsig]
1) Paint
2) Any upgrades to kitchen and bath are a good way to go.
3) Landscaping
Best of luck
55% ROI on your closing costs. I'm guessing closing costs are about $3000 so you're only making about $1600/yr off this property? Is this including vacancies and everything?
Quote:
On 2004-11-17 22:43, getgoing wrote:
1) Paint
2) Any upgrades to kitchen and bath are a good way to go.
3) Landscaping
Best of luck