Your investment property is not your home.
There, I said it.
It’s something every investor knows, but that doesn’t stop some from getting tripped up when they get a vision in their minds of what they want their investment property to be.
We have to hold ourselves back at times when we are renovating properties that real estate investors will purchase from us as investments. It is easy to justify each dollar as a smart investment, but harder to make each dollar pay off in return.
It’s not a bad thing to want your property to be the best possible version of itself, but focusing too hard on shaping it into your vision of perfection can end up draining your time and money faster than you can think. Before you know it, it’ll take several years of renting to even begin to make up for the cost of property renovations.