5 Home Renovations That Raise The Value Of Your Investment Property
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- Опубликовано: 24 сен 2019
- Mat Piche, The Fruitful Investor, shares 5 home renovation tips and projects that will actually increase the value of your investment property and give you a solid ROI!
If you're looking to force appreciation with sweat equity, this video will show you the 5 biggest ways you can do just that and a few interior design strategies as well!
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1. Kitchen
2. Bathroom
3. Flooring
4. Feature Wall
5. Curb Appeal
For those who don't like watching the whole video ;)
Or aren't able to read his handwriting 😅
Would you mind sharing the brand and color of the paint you use for the accent wall. It's beautiful.
You the real mvp
I got 4/5 right but 2 of those were different views of your ideal renovation such as featured wall. I was thinking just get a neutral color paint throughout the whole house. Overall very informative.
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For those of you DIYers, the bathroom is a very east remodel. I'm a carpenter by trade and I see a lot of people go with marble, quartz, granite, etc. counter tops for their bathroom vanity and in my opinion that is a waste. You don't need stone in the bathroom. Most people aren't equipped to fabricate stone so you end up paying roughly $50/sqft depending on what stone you choose. I always recommend corian / solid surface. You can get it to look just like granite, quartz, or marble, you can get just 1 solid color, anything you like. It is essentially an epoxy top so you can cut it with your normal wood working tools. You sand it like you would wood so it's very easy to get scratches out and if you can change the sheen on a whim. If you want a high gloss then sand up to 5000 grit. If you want to dull it down a bit keep it at 500 grit. You just use silicone to install it so it's very install friendly. The last corian top I did the sheet cost me $500, it is a 30" x 144" sheet so I was able to do a 96" vanity and I had plenty of material left over to put a new top in the laundry room as well.
Wow. Wish I could hire you or talk to you. Thanks for sharing. I am taking notes and learning a lot.
One kind of flooring throughout the house. Makes the house feel seamless and has a flow. And it makes it bigger.
A really good tip when renovating investment properties.
I dislike hodgepodge flooring
I usually start by solving potential problems down the road: Roof, Windows, Plumbing, and Electrical. Once this is sorted only then I look at other improvements.
Intelegency - Regular People Building Wealth - great strategy!👍
If you want problems to not occur, great. But those things all give you a terrible ROI.
@@colinsimon777 ROI is in saving time, occupancy rate and insurance costs
@@FFGGuru the title of the video is, "renovations that raise the value" those things don't really raise the value.
@@colinsimon777 Gotcha, agreed
YES. Some of my favorites, thanks for sharing! The upgrades you do DEFINITELY plays a part in the tenants you attract.
White cabinets have always been timeless.
As a renter currently, I can say for SURE that these are things that really turn me off or turn me on to a home! Curb appeal is the first impression, naturally. I’m not looking for perfection, but SOMEthing that shows the owners care. Sooo many houses in my area are neglected in that way. And then yes, the kitchen is my biggest priority when looking for a home. I want to feel like I’ll at least be comfortable, if not totally wowed when I see it.
Great list. Going to be my focus as I look at my rehab budgets. The kitchen is always my first place to look when it comes to upgrades. Glad to know I was doing that right.
Thanks for the great advice. Our company purchased a 16-plex in July (did a 1031 Exchange). We started with a couple roof renovations which were paid for as part of a credit at closing. The roofs have really helped with curb appeal. We've also done a few front doors. The entire property definitely has room for improvements, and we are in the process of creating a game plan for moving out tenants who don't take good care of the property and then fixing things up without going overboard. The tips you shared here were really helpful. Thanks again!
I love home improvements
Big tiles in the bathroom shower/tub area so you minimize grout/mold. Might also consider some of the newer PVC(?) wall systems. I make the flooring uniform throughout the house except the bathrooms and kitchen. But first do a thorough check of the plumbing/electrical/HVAC/roof/windows,doors and fix or replace anything that's sketchy.
Look into the epoxy grout. It's a little bit more money, but it's not porous, so mold can't grow in it.
@@kungfoochicken08 Good suggestion!
amazing! thank you for sharing
We are good tenants when my landlord lost is job in one accident he told me he had to sell the house so I move out and I come back to paint the all house for him and the garage so after one week the house was ready I didn't charge him any money after another week the house was sold
Thanks for the information!!!
Thanks for the ideas. And thanks for not saying "like" every other word!
awesome content... thank you!
Thank you for the great info!
Roof, windows, plumbing, electrical
Kitchen
- Light color
Bathroom
Floors (1 flooring through the house)
- Light color
Feature wall
Baseboards
Selling point= Exterior Wash and Landscape Trim
Learning to BRRRR and I definitely agree as an avg consumer. Curb appeal and flooring are my top 2. Next is kitchen and living room setup. Then bathroom and wall trims
Thanks for advice.
He sounds like Hedwig from the movie Split whenever he says “etcetera”
I laughed way too long during this video because of this comment lol thank you!!
You ain't right for this.... I mean you ain't wrong, but you definitely ain't right hahahahha
Good tips!
I like when he said "I don't know man" 🤣 Great video 👏
Love this video I’m trying to convinced my husband to do some well done remodeling and I know if I can get him to see for what I see “an investment” he will led me get the model type of house I want to live in for the few years we’ll be in our house.
You can redo the kitchen and bathrooms for super cheap in a few days. I really advise looking into DIY projects. You can paint tiles and cabinets in the kitchen and glaze your own tub/tile and do the counter tops in both for a fraction of the price, a literal fraction, and it'll look amazing and increase your equity almost just as much. Yeah, it may not last as long but you'll come out on top spending 300 bucks on something that will last 5 years vs. spending 5k on something that'll last 20years... just redo it brand new in 5 and save boat loads of cash.
Good video
Thanks
Excellent, relevant video. Covered everything quickly and efficiently. Constructive criticism: videos are MUCH better when there is one guy or gal that is organized and goes through the content. When you start adding other people that just want to talk for over an hour, you loose me. Thanks so much for the information and the effort.
I agree entirely. Don't get me wrong, I like everyone at BP. But I'm not here to watch Romper Room. The frat boy/juvenile stuff is getting in the way of the main topics. We wont go into the attempts at high pitched, Quick Tip, singing that are best left to 12 year old teen age girls suffering with strep throat.
Marshall Gerston - thanks!🙌
Thanks for the video. What is the name of that gray flooring you showed? Is it regular vinyl planks or is it some other special type of material? Thanks
Awesome
This guy needs his own channel
I definitely agree with a lot of the tips, though I would say that curb appeal should definitely be higher than feature wall and should also be higher than flooring as long as the current flooring isn't old carpeting. These videos also forget to mention that people care most about having a functional house before cosmetic upgrades to a kitchen or bathroom. Foundation, roof, electrical, HVAC, and plumbing fixes should definitely come before any kitchen or bathroom remodeling.
Always wash the exterior and trim all landscaping
CLIFF TALKS MONEY - great tip!
Hello
What is the brand of vinyl floor ?
@BiggerPockets What is crushed vinyl? Can you point to an example online?
The figure that you give for kitchen renovating,is that with labor cost or just material? Great video btw!
I agree with your points, but it’s also imperative, at least for me to state: If you want to actually make money, don’t pay someone else to do the work lol. If you aren’t living in it and you aren’t renting it out immediately, then save your money and utilize your time instead. Materials aren’t as expensive as they view at Home Depot or lowes; Especially when you go to auctions (builder auctions) or just search online...or purchase when there are sales happening. (Such as for appliances in the kitchen)
Very few landlords actually have the slightest of clues how to do ANYTHING required to remodel a property. They literally just point and say, "Change that!" Nor, should they bother to if they don't want to. Their time is FAR more valuable than the dollar amount is.
That said, those of us that ARE good with our hands, and actually enjoy getting into the mess, do indeed save a helluva lot of money on those upgrades!
Example: A custom countertop job that I charge someone else can easily hit $6k, but will only cost myself $200-300.
TRUE crown molding in a large room? THOUSANDS! My own entire house? Couple hundred... 😁
in our area, Green homes using environmentally sustainable materials increase the resale values. Having things perceived as deferred maintenance like Astroturf and Viynl screams senior maintenance deferred so we offer 30% less when Buying. A quick refresh with Environmentally Sustainable building materials attracts younger buyers for full price.
0:30 into this video and this guy is already outta my price range
Compared to cost, how much value does a new roof bring in?
Great, great advice. Thank you. Any possibility of "1 on 1" facetime personal consultation?
Good advice. Though in 2022 white kitchens are OUT. No more gray floors. Wood looking flooring should look like natural wood tones.
Can you go into detail on cabinet selection and that flooring you've chosen?
Kyle Baity - we use custom shaker style cabinets. You can also use IKEA “Grimslov White” cabinets for a very similar look. VERY affordable👍
@@TheFruitfulInvestor How about the flooring you talked about?
@@TheFruitfulInvestor Ikea cabinets have no longevity, I would avoid them.
I’d like to go with a white countertops but quartz is a bit out of my budget range.
Allaiya - do what you can! A laminate version (Arctic Tundra is what I use in rentals) will look great!
whre you want the floors? commercial laminate? Thanks
Never heard it called a feature. I heard it called an accent wall.
There is already a 4th way that is extremely powerful stuff. Tax Depreciation.
😂
Crushed vinyl resin floor same as lvp?
Mat can you please answer the flooring question to clear up confusion. What exactly is the flooring product that you utilize? Thanks in advance.
Vinyl flooring comercial grade.
What is the name of the laminate you used?
What about closest?
Curb appeal is controversial. Some say the main door is key, others say the lawn to the garden are equally important.
Can you give more info on the crush vinyl floor? Couldn't find much info on Google. Thanks!
Same, here, never heard of that type of flooring.
Cali Bamboo Vinyl Planking is what I use. White and grey is big for colors for the last few years.
What’s the name of the flooring you buy and where do you buy it?
@thefruitfulinvestor what type of flooring is that and where did you get it. I love it.
I would like to know that as well
I get mine from Home Depot called Lifeproof. Many styles to choose from. Easy to install and very tough
Granite countertops definitely makes a house more valuable. I've seen people not buy a house because of that.
Really? They’re that coveted? I didn’t have any idea. Is this common? And what makes Granite so good? I’m new on this and trying to learn.
It will make the house more appealing to the renter/buyer but will it affect the appraisal price?
If someone really likes it and has CASH the appraisal becomes a moot point...
What about doing the garden up? Will that increase rental value
Clean and neat, majority of renters don't want to be maintaining a garden.
damn that accent wall slaps
When buying a home to flip, we look for potential issues with the home then look at what updates have already been done to the home, if any. And then calculate in what the renovation would cost beforehand of buying a flip and then of course plan out the renovation.
Are there any unique updates for townhome owners who want to sell?
You have a huge budget, how long before you expect a profit on a rental like what you described?
Good question
I need that paint code from 5:04
Like all suggestions except the feature wall.
I agree. That hasn't been a thing since the mid 2000's.
do curb appeal last
Those sounds more like attractions to me and I know myself I will not care to pay more for curb appeal but if the owner had Anderson Windows then that's something I don't have to buy and I know I will be saving energy with that home.
My tennants love keyless entry only costs about $100 My properties go fast because I do what i call take out the ugly process. Basically look for ugly stuff and get rid of it.
With modern technology being as low priced and convenient as it is, it just makes soooo much more sense to throw in these types of little upgrades! For only a few hundred dollars in technology upgrades that last damned near forever, you can easily increase your monthly rent for an extra hundred or two!
@@bigd7861 I believe in upgrades
This is the first time I've heard about a Feature Wall. Am I the only one?
Dontee Weaver apartments have them or allow them. Usually called an accent wall
Dontee Weaver - gotta get on the accent walls!😜😉
@@TheFruitfulInvestor I'm going to subscribe to your channel now to get some more game 🤓💪🏾
They are on HGTV
@@DonteeWeaver Nice!! :)
One paints with a very wide brush
Does the 10k for the kitchen include labor? Or just material? I don't think you specified. Also asking for the other parts of the home as well.
Mario Tinsley - this includes labor😉
Not in my state.
@@TheFruitfulInvestor can you advice on exactly what brand of vinyl flooring you used and how much would an average or a little above average rental bathroom cost?
how did the camera not focus on you in the centre of the picture...
For flooring, do you have the same flooring in the bathroom?
I myself - never
No. You need to use tiles in the bathroom or something that is more durable than vinyl flooring.
Would this apply to multi-family homes (duplexes or triplexes) in C area locations??
Most of this should. Though I am unsure what C area locations are.
It’s quite small bathtub, yaa..
here in NY, it cost much more money. Small bathroom 5x7 $ 18000-30000, small kitchen $25000-50000 etc.
Natalia Landa California is the same price
NY is crazy and the taxes are ridiculous, that's people are leaving in droves and moving to the southern states. Invest elsewhere.
@@Jekyll_Island_Creatures, yes, but people still ordering renovations. If you live in a home or apartment and your kitchen or bathroom from the 1950-s you have to redo it! No choice.
@@markmacaranas8355 I know! NY and California are the most expensive states.
Get Ikea cabinets, it should be the same price all across the U.S ;)
Do you use any floor plan software and/or app?
Who spends most of their time in the kitchen? I spend most my time in my office on my PC when im home
What the name of his channel?
Notification Gang!
Montel Mclaurin - BOOM!🔥
One type of flooring? Carpet in the kitchen it is
😂😂😂
What's a double sink (in the bathroom)?
It just means two sinks instead of one like most homes. That way two people can do the morning routine at the same time.
@@Khalifrio thank you! I just got confused because on the picture which he showed on the video there's only one sink in the bathroom
@@mordykatsevman8161 Your welcome!
Good video except properties in 2019 do not cash flow. Housing prices are too high.
Not in my area! ;)
Kitchens are holes you throw money into.
#5 mow your lawn.
But now we paying rent and bills all before the due date do they treat us with consideration,No they rose rent twice was soon the year ended and the following wig year the same..
So want a in it for us?
What are you on about? 1st, this video is about how to maximize your investment as a property owner, 2nd whats in it for you? THAT right there is the problem, that false sense of entitlement, but i'll answer the question, a roof over your head, or do you think the landlord got the home for free? Are there bad landlords? Yes, there are, just like there are bad tenants. Rent is expected to increase over the years, if you feel the increase is unfair talk to your landlord and he can explain it better, if the increase is astronomical and you can't afford it...then move (unless you live in CT, where rent can be challanged).
The first 2 do not add value to a bank loan. The bank will not pay more for different colored walls or cabinets or kitchen splash or bathroom sinks….
So flooring and walls will add value to a bank loan?
2:50 While tiled bathrooms look nice I see it as a maintenance issue. That grout always gets mold growing on it and is a headache to clean for both the tenant and property owner during rehabs.
I'm pretty sure if you seal the grout and utilize the correct grout in a bathroom (mold/milder resistant), you won't have mold...or at least, in excess assuming the tenant doesn't rigorously clean.
THANK YOU FOR THE AWESOME ADVICE, ITS A GREAT VIDEO FULL OF USEFUL INFORMATION- PIERCING INSTINCTS PROPERTY MANAGEMENT #FOLLOWUS
Anybody ever thing to not follow what everyone else is doing so that your rental isn’t a sea of white like every other house on the market lol
Wtf is a heating vent doing in the middle of the toilet?
Probably pre-exsisting. I know I wouldn't spend a fortune just moving one heat duct in a less than ideal location.
@@Khalifrio You got it!
@@Khalifrio 100% agree with you...the one problem I do see, is for the accidental miss by you or a guest, now gets in there and provides a nice warm waft everytime the heater kicks in.
Years ago, back in a Northern state, an ex-girlfriend had a house that the previous owners had completely screwed up the heating system layout during remodeling. The heating ducts now ran directly under the bathtub. It was absolutely AMAZING!!! The tub, while still dry, was always the warmest place in the house. We use to run inside during a snowstorm, strip down, and cuddle up in the tub to get warm! 🤣
Tell your cameraman to check the focus next time
Lol who are u hiring for $25 - $30 an hour? The teenager down the street.
Swimming pool
Subway tiles r hideous
Just paint walls and new floors not bloody kitchens
Logic is flawed, I have walked away from homes specifically for the white cabinets in the kitchen
Bro you don't even know geometric shapes
This is not necessary true. Redoing the kitchen barely adds value to a home. Although it makes it look nice and it may sell quick, it adds almost no true value.
What adds true value then?
@@vgman94 adding additional living space such as finishing a basement or attic space gives lots more value. Upgraded utilities such as a new water heater, furnace, electric, etc. new exterior paint/trim. Curb appeal and landscaping are important. But interior renovations don’t add a ton of value.
Next time write your thoughts down before speaking
I hate WHITE kitchen cabinets, it makes it look cheap.
Kitchen upgrades and landscaping sell your home faster! Not for ROI!!!! Sorry. Wasted too much money on both of these the past year 😵
Why is this video so bad? 720 in 2019 and focus on the room instead of the presenter?
I'm against rise value of property's it erases future of generation..my point imagine I'm ultra rich I'm own all property's in one city and 12 real state agents want to open prices there 12 offices ok.
They come to me and I say alright 12 offices I will sell to you's for5 milion each or rent it for 1 million each a year will they be happy?
No.