Ever wonder how other investors are handling renovations, how involved they are in the process, and how much they are spending? The Iceberg Report, which was surveyed by Harris Poll and is the most detailed analysis on the single-family residential investment industry ever done, tackled these questions. Here are some of their findings:
How involved are investors in their property renovations?
- Do major work personally: 7.2%
- Do some work personally: 21.6%
- Hire an investor specific contractor: 14.2%
- Use general contractors for entire process: 20.9%
- Are general contractors themselves: 23.7%
How much do investors spend on fix and flip renovations?
- <$15,000: 5%
- $15,000-$29,999: 35%
- $30,000-$44,999: 35%
- Over $45,000: 25%
How much do investors spend on rental property renovations?
- <$10,000: 25%
- $10,000- $19,999: 25%
- $20,000+: 50%
Looking for funds for your next property renovation? Learn more about how you can pull cash-out of a current property.