You have a renovated house worth 165 thousand with rent of 1400. If you invest 40 thousand in the renovation you can sell it for 270 thousand.
There will be no revenue during the renovation and sale.
Which do you think is better? (Only reasoned answers will be accepted )
In kitchen photos before and after renovation
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The whole issue of selling a rented house that generates a nice income is surely a decision that came in advance… Now once you sell the property, it is known that in the area 8% net meaningful expenses will remain in the 250k area with an investment of 40 on a property worth 165, bringing you a final profit of around 40 A thousand dollars… If it's worth it? Losing 7k to put in 40-45 is not bad…
If that's the purpose of your investment at this point, it's good.
It depends on your needs for rental flow, and your capital to make a renovation.
Currently, property is generating 10% gross.
You have the option to invest 40 $ for a few months (usually 3-4 months) and earn 65 $
That means over a period of 4 months you can earn a few years return on rent
I was selling, and moving on to the next deal
For me, it depends on the time of renovation and sale. If the difference is small and the whole process takes around a year, I would sell it that way and look for the next deal.
As the others said it depends on the goals of the investor. But keep in mind that the rental will also go up from $ 1400 after the renovations.
In my opinion, the renovation is unequivocally, as my friend Guy said above, in order to increase the capital and, in addition to the value of the apartment, will be able to get a higher rent than before (and cover the time he did not "earn").
Depending on the investor's need for a fixed and secure income or an increase in capital…
Once the need is to increase the capital in my opinion should sell at a profit and repeat several times the operation with apartments of this value on increasing the required capital…