Back on topic.....our personal experience with renovations have been disasterous. Lots of money, lots of time, lots of stress and frustration for absolutely zero increase in cashflow and nil extra growth. Having the Tenants completely trash the place after the reno undid alot of the effort.
I sure agree.
When the market is booming, there is no need to do anything.
All values go up regardless. Unless your in the building trade, it's a waste of time and money that should be spent searching for other opportunities good buys.
The only time I think reno should be considered is when there is no growth and many a forced to sell or being repoed.
But these days everyone is a rennovator, so the prices are built in, and if they aint, there's plenty reno kings & queens out there freshly out of seminars willing to pay too much and generally don't place much value on their time.
As for buying renoed, rarely would I as most are done dodgy imo.