Real Estate Financial Planner™ Coaching - When to Do Upgrades with a Value-Add Rental Property
James talks about how to determine when you do upgrades or improvements to a value-add rental property.
When should you upgrade or do improvements to your rental property? How do you tell if it is worthwhile doing the improvements/upgrades?
In this special mini-class for the Real Estate Financial Planner™ coaching program James covers:
- Where are we as we improve rental property cash flow/now?
- Distinctions between BRRR/R and taking advantage of forced appreciation for a quick sale and keeping a rental for long-term wealth building and cash flow/now.
- How Return Quadrants™ are impacted by upgrades.
- A look at Return in Dollars Quadrants™.
- A look at Return on Investment Quadrants™.
- A look at Return on Equity Quadrants™.
- How to determine if you should do the upgrades/improvements or not... will it improve returns (with a math example)
- Will doing the upgrade/improvement make your return better or worse? A quick, math-based, decision-making thought process.
- The simple math discussion
- The more complicated math discussion including how to do it using Internal Rate of Return (IRR)
Looking to buy or sell property in Lincoln, NE? Call Jake Grenemeier of Clover Real Estate Services with Next Home Integrity at (402) 302-0088. Or, check out his website at www.Clover.RealEstate or email him at Jake@Clover.RealEstate. Jake specializes in helping real estate investors in and around Lincoln.
