The rental looks great, but in turning over the unit, I upgraded unnecessary components that simply won’t add to cash flow.
The Tenants Move Out My former tenants rented the unit for nearly three years.
This Wasn’t the Bargain The cabinets looked terrific in pictures once installed, but for some reason, the granite simply didn’t look right.
Let this be a lesson that if a deal sounds too good to be true, it usually is.
I had to buy new granite for a new tenant.
Me: Yeah; no point in having an old vanity on beautiful new tile.
(Mistake) Contractor: Would you like to put in a new toilet, too?
Overall, the baseboards, the vanities, the toilets, and the fixtures were completely unneccessary and didn’t add enough value to produce the same amount of cash that I put into it.
The cabinets and countertop were a judgement mistake I made when presented with a deal from a tenant.
The lesson here is that rental units are not a landlord’s home, and shouldn’t be renovated as such.