Renovation Mistakes to Avoid for New Rental Property Investors

In this video, I discuss 5 renovation mistakes that kill the profits of new rental property investors. [0:53] Excitement around designing rental property [1:22] #1 Over-improving [3:02] #2 Skipping required repairs by local municipality [4:13] #3 Picking the wrong contractor [5:37] #4 No value-added amenities [6:59] #5 Mismanaging the budget [9:14] Getting your renovation budget right upfront Let's chat about buying, selling, or managing Philadelphia real estate: 👉Call us: (610) 872-7926 Email: veronica@dwoodsrealestate.com 📆 New Investor Discovery Call: https://calendly.com/veronica-dwre/discovery-call 📆 Rental Income Strategy Session: https://dwoodsrealestate.com/pm-strategy/ 📆 Seller Consultation: https://dwoodsrealestate.com/home-seller-strategy-session Must watch playlists: 🏘️Check out our investor playlist: https://rebrand.ly/newinvestors 💲Check out our seller playlist: https://rebrand.ly/Phillyhomeowners Grab a seat for my next live new investor workshop: 💺https://dwoodsrealestate.com/new-investor-workshop/ Get More tips: 📨If you want to get more real estate wisdom beyond the videos, sign up for my email list (sent 2x a month): https://dwoodsrealestate.com/subscribe ABOUT VERONICA I am proud to work with my dad, Daniel Woods, and continue the legacy of Daniel Woods Real Estate, where we have been advising clients in the Philadelphia area since 1987. I am a natural connector who loves matching buyers and sellers, foodies with restaurants, and those in need of professional/career introductions. My passion is to help more people use real estate to create wealth, build a legacy, and design the lifestyle of their dreams. LET’S STAY CONNECTED ACROSS SOCIAL MEDIA http://dwoodsrealestate.com/letsconnect Veronica Woods Daniel Woods Real Estate PA License SB065736 #realestatemarketupdate #realestateinvesting #philadelphiarealestate #delawarecounty