Excellent points. The people who rent the level of houses you deal in are looking for a decent home, not luxury. This may sound funny but the one thing I've learned to spend money on is a really GOOD toilet. The cheap ones have poor design and plug up easier, which is a hassle for everybody. The ones guaranteed to flush '12 golf balls' or whatever they claim, are worth the extra because you never have problems (even though it is usually the tenant's responsibility).
@RedactedNews
7 жыл бұрын
+julie r Great point, Julie! Thanks for sharing.
@amv12vantage
7 жыл бұрын
We splurged for a $25 toilet seat. Crazy, I know. But it has a slow closing feature so you can't slam it. I've slammed it accidentally more than a few times in the middle of the night and this seat was well worth the money!
@OfftoShambala
6 жыл бұрын
I totally agree about the toilet... another call we get a lot is problems with the garbage disposal... the good quality ones may be $200 or $300 or something, while the cheap ones are about $100... but, it is an extra hundred or two well spent... the cheap disposers are only good for the little droppings, but people will try to shove all kinds of stuff down the disposer and they go into this spin mode where nothing will go down... this happened with two of my disposers and it happens at my dads alot... so annoying... its a landlord nightmare
@ApartmentKing66
4 жыл бұрын
@@OfftoShambala I've read about investors who actually REMOVE the garbage disposal (if there is one) when they buy the house.
@ApartmentKing66
4 жыл бұрын
Thanks for sharing that little tidbit of wisdom, Julie. A really good toilet makes a lot of sense.
@breakingthemasks
7 жыл бұрын
quick version... 1. Formica kitchen counter top is fine, don't upgrade to granite. 2. don't lose a bedroom to make a master suite. 3. keep bathroom upgrades minimal, no double sinks, bubble baths, etc. all if this advice is targeted at class c and class b- areas. if you thumb this comment to the top it might save future viewers time.
@neanam
7 жыл бұрын
breakingthemasks thank you!
@meadorsp
6 жыл бұрын
If you're looking to invest thousands of dollars into property, why wouldn't you spare 5 minutes of your time? Who is that busy?
@Lppoley
6 жыл бұрын
meadorsp, why would you ever spend 5 minutes of your time where you could spend 30 seconds of your time obtaining the same amount of knowledge or end result? Anyone who reads this user's comment instead of watching the video will have spent 10x less time obtaining this knowledge than they would have spent otherwise.
@meadorsp
6 жыл бұрын
L P You're schedule most be really optimized if you're obsessed over 270 seconds
@Lppoley
6 жыл бұрын
meadorsp it's not that my schedule is optimized to that level (clearly I'm spending time replying to you). It's just that if you spend 5 hours one day studying real estate and you optimize during that time frame, the 270 seconds you saved all of a sudden becomes a potential 16200 seconds saved during those 5 hours (assuming you shave 270 seconds off for every 300 seconds, which is not very realistic). More realistically if you skip pointless intros, speed read, or use comments like the one above to optimize during that 5 hour study period you probably save a minimum of 3000 seconds everytime.
@taxin2476
7 жыл бұрын
Thank you. Your calm, direct, no gibberish teaching completely gets my attention and i learn. Than you.
@jamesabaker4695
7 жыл бұрын
Taxin 24/7 barm
@jamesabaker4695
7 жыл бұрын
Taxin 24/7 barney
@jamesabaker4695
7 жыл бұрын
Taxin 24/7 hi
@eagle1333
6 жыл бұрын
100% agree! You never know what kind of damage may be done to your rental property by the renters so keep it basic and functional...!
@RedactedNews
6 жыл бұрын
Exactly. Thanks for watching.
@eagle1333
6 жыл бұрын
Absolutely, it goes both ways!
@OfftoShambala
4 жыл бұрын
rocky mountain lass it’s true ... we have been dealing with rentals for a long time and the nicer the house (doesn’t mean expensive finishes like granite counters), the WAY better the chances that the renters will be good in terms of caring for and paying ... it also helps to have the lowest maintenance yard possible and to help out with tree trimming ... at least in our area
6 жыл бұрын
My friend! It's almost 2am in the morning but I feel I need to learn what I already know :) sometimes I'm tempted to spend money in a stupid way. So thank you for pointing out mistakes
@404truckerllc4
5 жыл бұрын
I been using Rust-Oleum countertop resurfacing kits, $80, and bath tub resurfacing kits. $45. most tenants dont care as long as its clean and fresh appearance.
@RedactedNews
5 жыл бұрын
Great info. Thanks!
@Zenas521
6 жыл бұрын
When land lording, make the house a reasonable livable space. Don't make it a palace. When it comes to selling the house, put upgrades in the kitchen and bathroom. If the neighborhood upgraded from B class to A class, reconsider the master suite.
@RedactedNews
6 жыл бұрын
Great tips, thanks!
@imbonnie
7 жыл бұрын
If you have a 5 bedroom it can be worth making a master suite...you'll still have 4 bedrooms. Less bedrooms can mean less wear and tear and less risk of subletting.
@RedactedNews
7 жыл бұрын
+imbonnie Perhaps. I certainly wouldn't do it on a 2 or 3 bedroom though, which are the types of homes I buy.
@Furtivo95
5 жыл бұрын
a 5th bedroom can be used as a home office which is in growing demand.
@Martin-Young
3 жыл бұрын
Hi Clayton, yes I agree 100% on the kitchen countertops. I just bought a Formica countertop that looks like granite that only cost me $150 at Lowe's! Looks great!
@rshangrila
5 жыл бұрын
I put granite 12x12 tile in my kitchens. It costs under $10 per square foot and looks great.
@Alexandra-jj2qh
4 жыл бұрын
@Shukin Andjivin By all means, give your opinion, but don't include an insult!
@mrj-charles6383
7 жыл бұрын
I have a rental house that's been sitting for awhile because I'm using it from time to time. Anyway start working on it again recently to get it ready for rental again. Used to be at three bedroom one bath with formal dining room. I ended up turning the dining room into a living room. Now the original living room is a 4th bedroom on the ground floor. Where I'm at if you rent Section 8 they pay by the bedrooms. There is enough room upstairs to put a quarter bath. Have not decided if I want to spend on that yet. I do all the work myself so it's just a matter of materials.
@imbonnie
7 жыл бұрын
I disagree...you may not get more rent but you'll rent it out faster and save vacancy costs.
@RedactedNews
7 жыл бұрын
+imbonnie That has not been my experience, but thanks for your comment!
@rickyr4051
7 жыл бұрын
I agree with you. Plus you will be replacing the tops more often.
@davidmarzolino7159
7 жыл бұрын
imbonnie. Good point, this is something a lot of people don't figure into the equation.
@BoredAtWork2000
6 жыл бұрын
He is talking about B and C neighborhoods though. People in this price range aren’t expecting granite anyway. Sure it may “wow” them, but you don’t get the roi
@sirraymondluxuryyacht8131
5 жыл бұрын
Granite/marble counter tops are great until some buffoon uses it to cap his beer bottles and you now have chunks gone out of it
@jeanalexandre1105
6 жыл бұрын
Use formica and a countertop Big Box store supplies only Lowe's Home Depot Etc. Kitchen floors go bad vinyl flooring is the best
@johnlewis4196
5 жыл бұрын
"Keep it simple, Keep it cash flowing" #gold...thanks for this vid, this will keep me from getting too emotionally on the next Reno project that I have approaching...
@OfftoShambala
6 жыл бұрын
Never add a shower door or bathtub door/ go with single unit fiberglass surrounds for showers and tubs over tile.... those doors to showers and tubs, they will just add to the filth and disgust to have to deal with when a tenant moves out. It is rare for a tenant to keep those up, they might, but they are horrible horrible ideas.... If you have this situation in a rental already and it is not disgusting already, fine, leave it.... but, when you have a move out, it will highly likely be a disgusting gross nightmare and you can probably pay someone to get it clean, but it will never look all that clean... and you also want a home that, if you had to clean it yourself, has the least amount of crap to deal with.... people can put up shower curtains... by all means NEVER ADD one on purpose. Also, if you ever have to replace a tub or shower, go with a single unit fiberglass job... it is usually easier to clean and lasts longer than tile jobs... many tilers do horrible jobs anyways and showers that get used a lot will look horrible very quickly... pluse tiling jobs around showers, because of the horrible jobs tilers do, will leak into the walls.... just go with fiberglass if you can... of course some situations are difficult to put in a fiberglass unit (don't do the two piece) and you may be forced to go with tile or something else... and some tenants might find a way to destroy a fiberglass tub within a year... but, tiling has always been a problem for me... in my own properties and in the properties of people I have helped work on, time and time again... some tile jobs are done well, but in my experience, they RARELY are done well and the grout is disgusting almost all the time
@RedactedNews
6 жыл бұрын
Great points, thanks for sharing your experience!
@milesmccall2301
3 жыл бұрын
It would be nice to know where you get the data you use to draw these conclusions.
@OfftoShambala
6 жыл бұрын
Well, with a quartz countertop, which is supposed to be the least distructable surface (need to do more research), there are two advantages... one, being the virtual indestructible quality of it and two, you may get a larger pool of potential renters to choose from and thus, be more likely to find good tenants. I have helped people look at rental properties in my area.... and they won't apply for sub-par places... not that laminate countertops are sub-parr altogether... but, if the laminate is remotely crappy, and it can get crappy real fast... it will be a turn off to a lot of good potential renters. But, for the most part, if you as an investor landlord want to not overspend, I think the advice is actually right on... if you feel a stone countertop is a good idea, just don't do it unless you can get a good deal.
@elizabethzieman1059
7 жыл бұрын
I agree with points 2 and 3. However re: countertops in my area granite is same in cost as laminate and conveys a feeling of quality. The units show much better. Thanks for video!
@RedactedNews
7 жыл бұрын
+Elizabeth Zieman Thaks for sharing your experience!
@Jekyll_Island_Creatures
7 жыл бұрын
Bring me your cheap granite Elizabeth!
@the77eltigre
7 жыл бұрын
Plus hot pots and pans cant wreck them
@IWBVS
6 жыл бұрын
Two slabs of granite costs me $200 and $400 to cut and install two slabs. That's $600. Cabinets cost about $1500 for our apartment units. So for around $2k, it's worth it for us.
@gloriacarina1
5 жыл бұрын
@@IWBVS did you get the pre fab ones? .. how do you find those.
@bo3tb
7 жыл бұрын
i think it's pretty intuitive considering the location of your property. i still think a stand up shower much better than a tub. with that money i would still get the double sink for at least one bathroom. if your property is basic people will not get interested. there's a difference between the look and feel Vs. function.
@jayc4715
6 жыл бұрын
On a 1 bathroom home..would a simple tub/shower be better than a really nice large shower?
@RedactedNews
6 жыл бұрын
Yes, simple is best in C class rental properties.
@workingshlub8861
7 жыл бұрын
he is right...only need to make as nice as what is around you. ..no sense putting granite counter tops and nice porcelain floor tile in a lower income type neighborhood...rent is gonna be the same no matter what.
@RedactedNews
7 жыл бұрын
+working shlub Exactly!
@giljanyork3
5 жыл бұрын
As a Realtor® I agree, and as an investor I agree....good job.
@rmpennin
6 жыл бұрын
Clayton! I'm a 33 year old landlord with 21 units in NC. I came across your channel and thought, "wait... what? Is this the guy from Fox News!?". Haven't watched F&F lately, didn't realize you left last year. Never knew about your real estate background... and now I'm watching these videos, and I'm like wow, this dude is one of us! I never pictured a big name in broadcasting advising me to stick with my laminate countertops. So down to earth! Man, I knew I liked you. Thanks!
@RedactedNews
6 жыл бұрын
Haha awesome. Glad you found the channel!
@Mgamble214
5 жыл бұрын
new subscriber. Keep these coming. I only have one rental property and trying to gain more this year.
@RedactedNews
5 жыл бұрын
Hi Michelle! Glad to have you here! Please let us know if there are any topics you'd like to see us cover!
@YakMotley
5 жыл бұрын
Awesome video! Thanks!
@strokerace4765
4 жыл бұрын
I just put “Luxory Vinyl” tiles in the hallway restroom, paid $20 for the tiles and $5 for a new toilet wax ring.
@realcreamofwheat7728
6 жыл бұрын
totally disagree about the countertops. Granite lasts longer (takes abuse), looks better, and you can get decent deals so you won't be paying that much more for them.
@virex8414
4 жыл бұрын
You also get the shits (salmonella) if you don’t seal it every few years
@firearmsstudent
4 жыл бұрын
Let's say the market value for rent is $1000/mo and the property needs repairs. How do I relate the cost of the repairs to the value of the rental property so that the quality of the property is not under or over market value? For example, how much in extra rent will I get if I redo the floors, kitchen, bathroom, rooms, etc? How much more will tile bring over vinyl floors, or hardwood over that? I guess what I'm asking is for is how to judge the ROI on repairs translated into rental income.
@b-rare
7 жыл бұрын
i like the counter tops one. i was going to use a cheaper quartz
@RedactedNews
7 жыл бұрын
+Chris Barreira Glad this helped!
@johnmcalister7023
6 жыл бұрын
I only buy small 1 floor 1 or 2 bedroom homes
@RedactedNews
6 жыл бұрын
Awesome, thanks for sharing!
@TheRebelutionary1
6 жыл бұрын
My biggest mistake was thinking I could renovate a house using KZitem and Home Depot DIY books. I've had it rented for 8 years now, but the quality could have been so much better.
@RedactedNews
6 жыл бұрын
That's a good lesson to learn! Some tasks are better outsourced. 👍
@finned958
6 жыл бұрын
Inexpensive glass shower doors is better at least as a courtesy for renters and buyers. You can get inexpensive granite countertops too.
@cdogvlog5557
7 жыл бұрын
The dilemma I'm facing right now is whether or not I should spend 4 grand to replace the wood fire. I have an alternate heating source. Problem is that hte wood fire I think of as sort of a statement piece in the living room. Plan A was to take out the existing fire and box it up.
@samlyons3552
6 жыл бұрын
Bravo..!.! Standing Ovation !.........saved $5K on that one
@RedactedNews
6 жыл бұрын
+Sam Lyons Thanks! So glad you found this helpful.
@shaefromdade
7 жыл бұрын
GREAT TIPS!!
@rodneyburleson386
5 жыл бұрын
I’m always learning something from your vids homie ...good understanding with you ...nice
@RedactedNews
5 жыл бұрын
Thanks Rodney, glad you liked this one!
@jayc4715
5 жыл бұрын
Central air and heat with cheap vinyl flooring. VS .. all new ceramic tile floors and a window unit
@traversecitymall3144
7 жыл бұрын
Great info Morris, we're going to miss you on FOX. I know this is an older video, hopefully future ones you've toned down the background music, needs just to be soft, not over powering your voice. Great job!
@RedactedNews
7 жыл бұрын
+Traverse City Mall Thanks! Yes, this is an older video. We've gotten that feedback before, and have since turned down the music.
@elizabethdavidson7301
Жыл бұрын
About to purchase my first IP. Very useful succinct info. Cheers!
@level1life79
5 жыл бұрын
What if you have a 4 bed 1 bath though, can you combine 2 rooms then? I don't see 4 different renters all getting along well
@machumak4915
6 жыл бұрын
Thank you for this information. I am guilty of this on my past rental property renovations. I have since learned and I continue to search for useful resources such as this video. Thank you for keeping it so very simple and to the point. :)
@RedactedNews
6 жыл бұрын
Thank you, Machuma! Glad you liked this one.
@mockedpickle
5 жыл бұрын
I bought my first house and rental property (side split duplex) about a year ago with my boyfriend. A B/C-class 1912 home in an A-class historical neighborhood in a city. Each side is 4 stories with an unfinished basement and attic and one side currently rents for $1,775. It's been successful enough that I dropped out of college and quit my day job. First thing we did was put in AC and waterproof the basement, got new furnace and redid the roof. We're living in one side and renting out the other. After living in it personally We've decided to completely gut the kitchen, got rid of a downstairs bathroom to make it bigger. And gut the bathroom upstairs and move some walls to make it bigger. The thing I couldn't stand about the kitchen was that they were builder grade kitchen cabinets and outdated granite, it had an awkward angle, and wasn't as functional or beautiful as it could be. Even as a tenant, if I was paying $1,775 I would be completely unsatisfied with average or below average kitchen and bathrooms. They also had too many flooring in the house, original oak, new bamboo, different tiles in each bathroom and the kitchen. So we streamlined that as well. The house and the work put into it so far as probably set me back $750,000. Fortunately, we can absorb that cost even if it turns out to be a waste of money. We plan on moving to the other side once renovations are done, and putting it on airbnb. The closest competition as far as location, size, and amenities are priced at 350+ a night with 100% occupancy booked out months in advance. I figure that once I finish remodeling both sides, basements and attics included, I could charge around 600 a night conservatively. At that rate, even at 50% occupancy I'd be able to make my money back much faster than renting could ever get me. I understand that as a traditional rental, or even an airbnb this might not be necessary but we are going to transition into doing airbnb full time and then branch out to holding events there as well.
@baldparker5605
6 жыл бұрын
thank you for sharing the experience.
@RedactedNews
6 жыл бұрын
Thank you for watching!
@domp8172
Жыл бұрын
What about when you want to sell isn't this exclusively for annual cash flow?, whereas an inexpensive kitchen or bathroom renovation can still get high ROI when selling.
@HugDealer
5 жыл бұрын
I live in an apartment and see many apartments in the area with astronomic rents just for worthless upgrades such as countertops and double sinks. So absurd. As a tenant, you could not care less if the countertops are shiny or you can parallel brush your teeth!
@RedactedNews
5 жыл бұрын
Exactly! Thanks for sharing.
@pthemuthafucka5038
5 жыл бұрын
This only goes for renting !. If you upgrade your own house in a grade A Nabor hood it is worth every penny !. And people like to pay more if there getting a new house 🏡. In a grade a area cause they don’t want to deal with renovating. I sold my house for 80 k more than asking because of the renovation I did , I would have never if I left it the way it was 1975 looking .. if your gonna rent out property you shouldn’t even spend a dime . And you get more for more bed rooms .
@RedactedNews
5 жыл бұрын
This is a real estate investing channel, so yes, we're talking about rentals!
@MoreThanMartialArtsYpsilanti
5 жыл бұрын
Just got a contractor bid earlier on a property and this video will save me money in the near future. Thanks Morris Invest!
@RedactedNews
5 жыл бұрын
So glad to hear that! Let us know how it goes!
@MoreThanMartialArtsYpsilanti
5 жыл бұрын
@@RedactedNews I will! I want to add value to your company and network with you however I can. As real estate investors we need to stick together. If you ever need any professional video work done or tv series, my brother in law just filmed a music video for Lil wayne that dropped a few days ago called Dont Cry (check it out) I spoke to your team a week ago and plan on investing with you once we scale up. My name's Taurus.
@recheveste31
3 жыл бұрын
The only reason i am put equity on the rental property is to get a cash refinance to buy another property. Also the rental property will look great and generally attract those who will pay an extra $100 or $300 per month to live comfortable.
@jalabi99
6 жыл бұрын
The rehabs you will do on your own house are not the same as you would need to do on a property you're renting out. Ignore HGTV and listen to Clayton instead ;)
@RedactedNews
6 жыл бұрын
+jalabi99 Thanks!
@SeyiL-zk6lu
5 жыл бұрын
Hi Morris, good video. Can you make a video on what appraisers look for. if you are using har oney, you need the house appraised for a certain value, which means renovating the house beyond making it rent ready.
@skylinegt6
4 жыл бұрын
What do you recommend be upgraded? I'm about to get an appraisal on my primary home to get my first HELOC and want to increase the equity to get my first rental. The items I believe I need to fix are a few outlets/switches (don't work), Ceiling fan (don't work), and front screen door (missing a couple of screws). Any tips are welcome and thank you for always responding!
@RedactedNews
4 жыл бұрын
Those are all good fixes! We recommend fixing anything that supports the integrity of the house. Check out this video on the major things you should look for: bit.ly/2Mb6xWw
@ericgarza3239
6 жыл бұрын
Thought that shark frame was a toilet seat cover dispenser 😄 Great video 👍🏼
@RedactedNews
6 жыл бұрын
Haha!
@stonynotdusty
6 жыл бұрын
Disagree on first point of counter tops, when water gets in wood or heat marks get on the plastic you will be replacing for each tenant meaning a lot of replacing and the cost of installation each time. Peoples work is more expensive in many places than material costs. I am not sure where you are, may be different.
@awurammaparry8073
7 жыл бұрын
Hi Clayton, l have a daughter in Howard University and l am looking for a house to buy around the school so l would rent it to her and her friends. Can you help me with any ideas. The houses around that area are so highly priced. Thank you.
@RedactedNews
7 жыл бұрын
+Awuramma Parry I'm not familiar with that market, but university towns tend to be great for finding rental houses. You could possibly look into condos too, if the ROI makes sense!
@colton6038
7 жыл бұрын
I stayed in DC over the summer. What kind of places would you say Howard students are seeking
@lingmartylifestyle9185
5 жыл бұрын
Have one question: How about Kitchen cabinets? How much money should be put in considering it’s an older home? Thanks!
@RedactedNews
5 жыл бұрын
If they're solid wood and in good condition, sometimes they can be painted.
@joycebarnett6035
2 жыл бұрын
What if the kitchen countertops are that old white tile all worn out? I looked into spraying them with a coating cost 1500 bucks
@BoykinUSA
6 жыл бұрын
Exactly what I think and do as well
@RedactedNews
6 жыл бұрын
Awesome, glad to hear that!
@Inkdraft
6 жыл бұрын
Clayton: I have two units. Currently I live in the larger one but plan to rent it out when I retire. In the smaller second floor unit ( One bedroom) I don't allow the tenant to have a washer and dryer (too many accidents and ruined ceilings in the first 10 years). Besides, there is a laundromat around the corner. Also, the tenants seem to do laundry for every relative within a 50 mile radius LOL. Which jacks up my water bill. The first floor apartment where I live is a larger 3 bedroom. When I am ready to rent it out should I install a washer and dryer or stick with the no washer and dryer rule?
@RedactedNews
6 жыл бұрын
That's up to you! You can always have them bring their own appliances and foot the utility bills.
@shoofky
7 жыл бұрын
DIY tile or concrete counter.
@jakerogers7916
6 жыл бұрын
Makes sense thank you!
@ericsanjuan4901
7 жыл бұрын
Bedrooms are everything
@raymondwilliam9925
6 жыл бұрын
I love this guy! He's so smart
@RedactedNews
6 жыл бұрын
Thanks, Raymond!
@dtronrud
7 жыл бұрын
hey man im 22 and i live in canada. i own my own house and have it rented out so the mortgage and my living is covered. im about to buy my first real investment duplex. have any tips? btw my uncle is a real estate agent so im not completely uneducated just knowledge hungry!
@RedactedNews
7 жыл бұрын
+Devon Tronrud Awesome, that's exciting! Do you have any specific questions? We have tons of free resources and tips here on the channel, we even have a playlist for investors just getting started (goo.gl/KJSBT8). You also might like our podcast (goo.gl/CCPv7W), and our blog(goo.gl/a3xsY5). Good luck!
@dtronrud
7 жыл бұрын
Morris Invest so many! I'll slowly leave things that stump me in ur comments while I grow my investments. Roughly how much does claiming a space in ur house as an office save you a year. If I use my garage for tools and supply storage is there a way to claim that?
@daddynatty9317
Жыл бұрын
Why not put in luxurious finishes when it will shoot up your home value and you can sell it later on? Plus your tenants will certainly pay more for rent
@FireflyOnTheMoon
5 жыл бұрын
I disagree about the kitchen counter tops. There are many great agencies that do kitchen exchanges. You can buy an array of units, appliances and high grade counter tops for 10% of the retail price.
@rdrakemanagement
6 жыл бұрын
love what you are doing
@RedactedNews
6 жыл бұрын
Thank you!
@terrancewayne4125
5 жыл бұрын
You keep it real
@imbonnie
4 жыл бұрын
If you have a 5 bedroom you mights want to combine two rooms because most families don't need 5 bedrooms and a nice master suite could help it get rented. Also, you might have lower costs when you get it back due to less wear and tear because of less people.
@RedactedNews
4 жыл бұрын
Good point!
@eli6322
5 жыл бұрын
You provide great tips! Thanks!
@xteric1
5 жыл бұрын
What about adding a patio?
@addicted2baseballrgd21
7 жыл бұрын
Granite isn't that much more than formica, and last a lot longer. Yes, 15 years ago it was more pricey.
@N.Cognito
7 жыл бұрын
Addicted2baseball rgd I can't disagree with you more. I recently did countertops in my house. I needed 4 pcs total, a 12 ft piece, and (3) 4ft pc. I was able to get all 4 pcs from Menards for well under $300 USD. Any stone countertop would have been $2000 or more. That is a very large cost difference.
@nathantant4921
2 жыл бұрын
I think stone countertops have a place when you’re charging 1600 plus for a house in a B+ neighborhood.
@MS-pg4sx
5 жыл бұрын
What’s your opinion on tiling the house ?
@philippegalipeau303
6 жыл бұрын
renting vs buying hot water tanks? on my new property the last owner rented his tanks that came with free service, just the math didnt make senes to me. you can buy a water tank for $400 or you can rent it for $20 a month so you could pay it off in under 2 years. if you are not paying utilities is it worth upgrading windows? thaughts?
@TheFNASSHOLE
6 жыл бұрын
Any thoughts on carpet vs laminate, vinyl or ceramic tile? We have been using 48 cent per foot carpet and 48 cent per foot laminate floors. The laminate floors give us trouble when people get it wet and tile sounds tempting but gets to be more expensive because of the install and like any material it can break and need repairs but that tile no longer exists. And carpet gets ruined pretty quickly depending on tenants. What have you seen to be the better performer on your rentals?
@bkd-newyork2256
Жыл бұрын
I am fine of yours and Natalie. Amazing tips
@cliffdariff74
5 жыл бұрын
What then is an area that a landlord might improve on to get rent or higher sell price in class C nhood? My kitchen does not have a dishwasher or garbage disposal in the sink...should I upgrade?
@teresab208
4 жыл бұрын
I'm going to be doing my rental kitchen and bathrooms, stuff is 20 yrs old. Need info on kitchen and bathroom cabinets, thanks
@jhenry9636
7 жыл бұрын
Great channel. I've subscribed. Consider removing the background music when you are speaking.
@RedactedNews
7 жыл бұрын
+Jarrad Henry Hi Jarrad, we're glad you're here! We've actually received that suggestion before, and have since toned down the music on our newer videos. Thank you!
@contemplate-Matt.G
6 жыл бұрын
I'm a general contractor on Long Island. Good advice.
@RedactedNews
6 жыл бұрын
Awesome, glad you liked this one!
@contemplate-Matt.G
6 жыл бұрын
Also paying down the mortgage with a heloc now. Will use the heloc for RE investment properties when the mortgage is very low or paid off. Thanks for the great vids.
@rickdoesitforyou
5 жыл бұрын
What about appliances?
@RobertLinthicum
2 жыл бұрын
Disagree on the countertops. Kitchens matter, and great countertops transform the kitchen.
@johnnieochocinco3015
6 жыл бұрын
Great advice.... thanks!!
@RedactedNews
6 жыл бұрын
+Johnnie Ochocinco Glad you liked this video!
@emikosan8712
5 жыл бұрын
VERY GOOD ADVICE.
@aja_6093
3 жыл бұрын
Very informative thank you
@samburns2516
6 жыл бұрын
Hi Clayton, Great content I really enjoyed this video! You had mentioned not combining rooms to make a master suite but what about combining a room with a one car garage and adding a second bathroom? My home is a 3 bed 1 bath and the 3rd room separates the garage from the rest of the house ( I think it was an old breezeway). Both the garage and third room are in pretty poor shape and need a fair amount of repairs before I do anything anyways and the current bathroom is just pitiful. Would it make more sense that way for better rental/sale returns? I would love to hear your thoughts. Thank you, Sam
@RedactedNews
6 жыл бұрын
Do you think you can charge more in rent by doing so? If the answer is yes, then go for it!
@betrayedby_don7527
7 жыл бұрын
Is there a value to having great tenants or happy tenants? Or, are landlords are really just about the ROI?
@RedactedNews
7 жыл бұрын
+BETRAYED BY_DON I certainly take care of my tenants, and they love their homes. Most tenants don't need a master suite to be happy.
@workingshlub8861
7 жыл бұрын
its all about good tenants and taking care of them...without them there is no ROI. bad tenants can sink a landlord real fast.
@jeanalexandre1105
6 жыл бұрын
Renovate in direct proportion to the value of the house. For example you would not spend $50,000 on a $80,000 house it would be more like $2,500. Common sense
@georgeshaya2450
3 жыл бұрын
Great points fantastic information. Also miss ya on Fox.
@jasonhaglund1557
7 жыл бұрын
You have a great channel! I just subscribed. Do you have any videos on how to get involved with investing in properties out of state?
@RedactedNews
7 жыл бұрын
+Jason Haglund Thanks, Jason! Yes, here's the link: goo.gl/SrMZY8
@jasonhaglund1557
7 жыл бұрын
Great! Thanks!
@iQamarAmerica
4 жыл бұрын
Where I can find 10k-15k property for investment.
@219garry
5 жыл бұрын
Guys, I'll add number 4 for him because he should have had 4. 4 is always better than 3. So, number 4 is NEVER do a completely finished basement. Simply make it look open and fresh. Spray the ceiling black, off white or gray. Spray the cement walls and roll the floor gray. That's it. Finished basements can cause problems. If a pipe leaks you have to repair the ceiling. If the basement floods.....well you get me drift. Also, you can wind up with an extra tenant living down there that isn't on the lease.
@sambass827
5 жыл бұрын
I have a question one of my rental properties is in an area that has sever hard water this can damage pipes and appliances after a few years. I wanted to install a water filtering system in this property, so my tenants have clean and filtered water in the house. Will this help in selling the house or increase the renting price of the house or neither?
@jjgerald9466
5 жыл бұрын
Would you still buy an house with termites and high radon level?
@lolagoodie511
6 жыл бұрын
Clayton..love the video. We have a primary residence that we are going to either rent or selling in a few years (C neighborhood) to pursue rentals. The house is paid off. The kitchen is currently being remodeled.. What type of countertop would be best.We go back and forth on it..We will do the work ourselves; my husband is a contractor. Thoughts?
@RedactedNews
6 жыл бұрын
Laminate or formica is fine! Don't splurge in a C neighborhood.
@lolagoodie511
6 жыл бұрын
thank you!
@transactland195
7 жыл бұрын
Great advice! And I appreciate, as said below, the calm and direct teaching.
@RedactedNews
7 жыл бұрын
+Transact Land Thank you so much!
@KENZHATE
7 жыл бұрын
I somehow disagree with 1 and 3, tenants do want to be able to enjoy new things in the house for what they're paying for and actually the newer the property the better, like up to date bathrooms and kitchens, its much more easier to get rented out and could save you a lot of money on vacancy costs, just got to watch out for other rental properties that were competing with your rental property like you said its a people's business.
@RedactedNews
7 жыл бұрын
+KENZHATE In my experience you can make those areas look nice and new without splurging. My tenants are happy with that.
@KENZHATE
6 жыл бұрын
I have multi family townhouses for rent in CA, and more than likely will have some people asking me how old is the place, and some of them did indeed signed a rental agreement and contract with me, and i do realized that those are the tenants that do not last long renting the property. You're dealing with so many different kinds of people walking in and out of your property for rent.
@rauljaquez6577
6 жыл бұрын
thanks for replying to my last comment! I just subscribed. You mentioned you guys do C class homes for 40-50k. Do I give you the 50k? Or do we use debt to finance the home and put a percentage down, but then again interest would be high for me being a teenager.... I really would like to learn these things. Do you guys offer a course? Or someway to learn in detail ways? I know for sure I'd be willing to pay thousands for that kind of information. thanks!
@RedactedNews
6 жыл бұрын
Hi Raul! Our turnkey properties are cash purchases!
@ermanadanir2179
6 жыл бұрын
First of all, I appreciate all your hard work with the videos, I love all of them. If I am not mistaking you invest usually homes around $70K to $100K so it makes sense to do the very simple renovation but If you do $500K rental property with 5 Bedrooms with 3 Bathroom, what are your thoughts on that? I am currently interested in a single family property that 5 Bedroom and the neighborhood is usually 3 or 4 bedroom neighborhood, I was thinking about the knockdown 1 bedroom to make master good size bedroom so I can have 4 bedrooms 2,200 sqft single family. I'll really appreciate your advice in this price range situation. Thank you so much
@RedactedNews
6 жыл бұрын
Hi Erman, we don't really invest in anything that high. If you invest in a property over $150/175k, the rents don't really keep up with the cost. Check out this video: goo.gl/opr1Es
@ermanadanir2179
6 жыл бұрын
Thank you so much for your response.
@cgmeals
6 жыл бұрын
Great info! Did you have a selfie stick or a stabilizer while shooting this video?
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