In this episode, John and Kyle dive into the complexities of buying dilapidated rentalproperties and the subsequent decision-making process concerning renovations andtenant management. They underscore the importance of having a concrete investmentstrategy and the implications of property improvements on long-term equity and rentalyields.Key Takeaways:• Investing in dilapidated rentals requires a well-thought-out strategy concerning therenovation timeline and its impact on rental income and property value.• Acquiring a property at a discount should factor in future repair costs; theseexpenses are part of the initial capital, not unexpected losses• The decision to refresh a rental property can greatly influence tenant retention, repairexpenses, and eventual profitability.Quotes:• "And I think just from experience, you should be making a decision at acquisition.Like when we do these acquisitions, we make this decision is, do we want to freshenup this property at the beginning or at the first turnover or over time, which webelieve is the worst, a lot of people opt to do it over time." - Kyle• "If you know it's going to take 30, $40,000 to fix this house up... the way to look at it,is that $35,000 still needs to be considered in the initial price." - John• "The specifics of your strategy could be the difference in ten years down the roadhaving 25 rentals and having five because of cost." - JohnYou can listen to We Are TPM on any major podcast platform including ApplePodcasts, Google Play, Spotify, and many more.Tune in today!We Are TPMTeixeira Property ManagementMansfield, [email protected]———————————————————————————There are a vast amount of ways in today's world to build wealth using real estate andinvesting, not just in property, but in yourself!Located in the Dallas-Fort Worth area of Texas, John Teixeira and Kyle Teixeira ofTeixeira Property Management bring you all of the knowledge and experience they canprovide for the confidence to achieve your investment goals, or how and why to createthem. Now, while John and Kyle have a ton to share, they will also be bringing youinterviews with some of their clients, industry partners, experienced investors, andmuch more every week!John and Kyle look forward to sharing the knowledge you need about arguably thegreatest investment vehicle that is available to the masses — Real Estate. Knowledgeis power, and John and Kyle intend to give you as much power as possible. It's notalways about the HOW, but also the WHY, and they will be digging into it right hereevery week!

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