Are you looking to remodel a rental property? Recently we did a full remodel of a basement apartment in the span of just 20 days! It was a rush and there were many long days and lots of contractors. Before jumping into any remodel project, make sure that you do your homework. You must get a few bids for each area of work that needs to be done. This will help you to know that you are getting a fair price for the work. Understand that remodel projects snowball and you will most likely end up doing more and spending more money than you originally anticipated. On this project, we didn't foresee the extra drywall repairs, the additional painting, and the new gas and electrical lines that needed to be run. These items add up quick, so be sure to set aside some extra funds for the inevitable extras. Another word of caution is that doing a full remodel on a low end rental may not pay off. Carefully consider the cost of the project, the rent you will get in return and the time it will take to re-coup that investment. I have learned that tenants do not always treat your property with care and sometimes having the newest and nicest doesn't pay off. If you are looking to invest in real estate, give us a call. We serve all of Southern Nevada including Boulder City, Henderson, and Las Vegas. Pinyon Properties is your real estate one-stop-shop!
