Make Money with Home Reno’s Using MY PERSONAL Checklist

Hey there! It’s Michael here. Many people add value to their properties through renovations…I certainly do. It’s a repeatable strategy that increases the value of a property without having to wait for the market to increase.

This means as the investor you get BIG results in a SHORT period of time.

However…

Often people miss the mark and complete renovations in the wrong area of the home where value is not added.

Renovating certain areas of your home is a great way to add functionality and beauty, and it can also increase the value of the property without having to wait for the market to increase.

Choosing the right project to enhance your space will not only make it more appealing, it can make you MORE MONEY… especially when you consider The 4 Ways to Win.

To ensure you get the most out of your renovation I wanted to provide you with MY PERSONAL Top 5 Value-Added Renovations Checklist. Watch the video and review the Checklist below!

Check out the transcription of this video below!

When we talk about adding value, we know there’s certain things we can do that almost every single time, get us a great ROI or return on investment for our money. When we talk about how much money we’re going to invest in the renovation and how much money we’re going to get back, there’s things that we can do, we go down our checklist. We can go down our Top Five Value Added Renovations Checklist.

It’s a very cool day today, because we have a property that we’re actually going to execute a Flip to Yourself^TM strategy, and I thought I would bring you along so you can see how we go through the checklist, how I would actually walk through a property and produce more value than the money I invest in the renovation.

So let’s recap our Top Five Value Added Renovation list. Okay. Number five, we’ve got flooring and paint. So when I walk in, the first thing I want to look at is how can I add value with flooring and with paint.

Number four is going to be door hardware and light fixtures. So I’m going to look at all the door harder and light fixtures, and I want some really ugly stuff. ‘Cause I know that’s a great place for me to add a lot of value with a very little bit of investment. Then we’re going to look at the bathrooms, what condition the bathrooms in, and how can we add value there? We’re going to look at the kitchen. What are some simple things we can do in the kitchen to add value?

And the number one value added renovation is adding an income suite. So we’re not going to look for that here because this property already has an income suite. It’s a four-bedroom up, one bedroom down income suite, and we’re gonna hear that there’s some dogs downstairs. We might hear that a little bit on the microphone, but we’re going to really walk through with the top five checklist.

We’re going to look at number five, number four, number three, number two. And we’re going to see exactly what we can do to add value. This is something that you can do with every single property you walk through, or if you have your property manager or your realtor, or your assistant or anybody walking through properties, this is the top checklist to go through.

So let’s check it out. Let’s see what we have.

When you walk through a house, always remember, go down your checklist of the top five value added renovations. We’re going to start with looking at the paint and the flooring. We want to be able to add value through paint and add value through flooring, but we don’t necessarily need to replace everything.

We don’t need to replace the floor if it’s good, if it’s in good shape and we can clean it, then we want to look at all the light fixtures, all the door hardware, and all of the switches and receptacles. We want to see if there’s a way to add value by swapping those out and replacing those, having a nice modern refreshed look. And then we’re gonna look at the bathroom.

We’re gonna look at the countertops, the sinks and faucets. We’re gonna look at the tub surround, and we’re going to see if we can either tile or get in a one unit insert to replace it. And we’re going to look at the cabinets and we’re going to get the hardware on the door, on the cabinets, on the vanity.

See if we can swap that out. Maybe see if we can paint the vanity or if we need to completely replace it. One of the things you want to decide with bathroom is do we want to change the layout or keep the layout the way it is and just do the cosmetic work? Most of the time, keeping the layout the way it is is the better return, because you don’t need the plumbing permits, you don’t need to rip up the floor. You don’t need to do all those things to change the layout. But however, sometimes doing the layout is necessary in order to add that value. Often you can go in and just not change the layout and do those things we talked about on this tour.

And then we have the kitchen. Number two is the kitchen. And we’re going to do the countertops. We’re going to look at the hardware. We’re going to look at the paint. We want to do a backsplash cause backsplashes add a ton of value. They look really good. And we’re going to check out appliances. If appliances don’t have to be replaced, it’s a bonus.

And we’re going to look at the sink and faucet and try to make a bit of a wow factor between the backsplash and the sink and faucet. And then look at all the other details, like the trim, the window trim, cleaning the windows, taking care of all those things to make the kitchen look really good. That’s the way that you can add value to a kitchen, and to a bathroom without spending a ton of money in those two rooms of the house.

And of course the number one way to add value in a property is to add an income suite because not only do you increase the value through renovation value, but you add income to the property. Anytime you add income to an investment property, you increase the value. Adding income increases the value.

We’ve already done the income suite here. So now it’s time to come in. We’re going to refresh this property. We’re going to flip it to ourselves. We’re going to get out that, that that flip it to ourselves cheque, and we’re going to use it to just invest in more property, invest in mortgages, invest in land development and do it all over again. Over and over again.

Find a system that works, do it over and over again. Thank you for watching. Let us know when you do your Flip to Yourself^TM. When you do your renovations. We want to hear your story and we want to hear what you do out there in the field, so that we can see your results. What we do, we do for your results and your success.

So thank you for watching. Best of luck to your success. Let us know because we want you to be our next success story. Thanks.