Boost Your Rental Returns with These High-ROI Renovations (Rookie Reply)

Real Estate Rookie

Do you want extra cash flow? Higher appreciation? More bookings? A few high-ROI renovations or new amenities could pay off in a HUGE way. But which projects will give you the best bang for your buck? Stay tuned because we’re sharing some of our favorite additions in this episode!

Welcome back to another Rookie Reply! Are you using the wrong investing strategy? Maybe short-term rental regulations are cutting into your revenue, or your long-term rental isn’t cash-flowing. We’ll discuss how to choose the best strategy for your market, when to pivot, and how to flex between multiple strategies for the highest return. Finally, we’ll dive into the BRRRR method (buy, rehab, rent, refinance, repeat) and compare several exit strategies for tapping into your home equity—from cash-out refinancing to DSCR (debt service coverage ratio) loans!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover:

How to get the highest return on investment (ROI) from renovations and amenities

Converting your short-term rental into a medium-term or long-term rental

How to choose the best investing strategy for your market (and when to pivot!)

The best exit strategies for a BRRRR (buy, rehab, rent, refinance, repeat)

When to use a home equity line of credit (HELOC) versus a cash-out refinance

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

Join BiggerPockets for FREE

Ask Your Question on the BiggerPockets Forums

Buy “The Book on Estimating Rehab Costs”

Find Investor-Friendly Lenders

See Ashley and Tony at BPCON2024 in Cancun!

11 Ways to Increase the Value of Your Home or Investment Property in 2024

(00:00) Intro

(00:46) High-ROI Renovations

(11:19) Converting Short-Term Rentals

(18:18) BRRRR Exit Strategies

(27:56) Post Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-460

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