The 3 Renovations That Are a Waste of Money | Investing for Beginners

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Title	:	The 3 Renovations That Are a Waste of Money \| Investing for Beginners
Lasting	:	5.21
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Excellent points The people who rent the level of houses you deal in are looking for a decent home, not luxury This may sound funny but the one thing I've learned to spend money on is a really GOOD toilet The cheap ones have poor design and plug up easier, which is a hassle for everybody The ones guaranteed to flush '12 golf balls' or whatever they claim, are worth the extra because you never have problems (even though it is usually the tenant's responsibility)
Comment from : julie r

About to purchase my first IP Very useful succinct info Cheers!
Comment from : Elizabeth Davidson

Why not put in luxurious finishes when it will shoot up your home value and you can sell it later on? Plus your tenants will certainly pay more for rent
Comment from : Daddy Natty

I am fine of yours and Natalie Amazing tips
Comment from : BKD NY

What about when you want to sell isn't this exclusively for annual cash flow?, whereas an inexpensive kitchen or bathroom renovation can still get high ROI when selling
Comment from : Dom P

I think stone countertops have a place when you’re charging 1600 plus for a house in a B+ neighborhood
Comment from : nathan tant

Disagree on the countertops Kitchens matter, and great countertops transform the kitchen
Comment from : Robert Linthicum

What if the kitchen countertops are that old white tile all worn out? I looked into spraying them with a coating cost 1500 bucks
Comment from : Joyce Barnett

Do paint your inv property when tenants move out I’ve seen a lot of landlords trying to just move people in so fast they don’t even take the time to paint which is lazy and unsanitary Just white wash the walls if tenants want specialty colors they can do it themselves but no one should have to move into a place with dirty walls
Comment from : Girasol

Hi Clayton, yes I agree 100 on the kitchen countertops I just bought a Formica countertop that looks like granite that only cost me $150 at Lowe's! Looks great!
Comment from : Martin

The only reason i am put equity on the rental property is to get a cash refinance to buy another property brbrAlso the rental property will look great and generally attract those who will pay an extra $100 or $300 per month to live comfortable
Comment from : EyyBoss

Stopped watching after he said upgrading countertops doesn’t get you a return on investment FALSE! Very false Maybe not if you’re planning on renting But selling? Hell yes it does!!!!
Comment from : Richard Wade

Very informative thank you
Comment from : Aja_60

It would be nice to know where you get the data you use to draw these conclusions
Comment from : Miles McCall

Great points fantastic information Also miss ya on Fox
Comment from : George Shaya

dont be a slumlord
Comment from : priceandpride

Where I can find 10k-15k property for investment
Comment from : iQamar America

the background music is unnecessary and distracting
Comment from : Jeff Yanez

I'm going to be doing my rental kitchen and bathrooms, stuff is 20 yrs old Need info on kitchen and bathroom cabinets, thanks
Comment from : Teresa B

I just put “Luxory Vinyl” tiles in the hallway restroom, paid $20 for the tiles and $5 for a new toilet wax ring
Comment from : Stroker Ace

Americans love to waste money and it helps our debt based economy so please go out and max out those credit cards ! I salute you !
Comment from : Kurt Krauss

What do you recommend be upgraded? I'm about to get an appraisal on my primary home to get my first HELOC and want to increase the equity to get my first rental The items I believe I need to fix are a few outlets/switches (don't work), Ceiling fan (don't work), and front screen door (missing a couple of screws) Any tips are welcome and thank you for always responding!
Comment from : skylinegt6

What about renovate for sell?
Comment from : Sean Ye

If you have a 5 bedroom you mights want to combine two rooms because most families don't need 5 bedrooms and a nice master suite could help it get rented Also, you might have lower costs when you get it back due to less wear and tear because of less people
Comment from : imbonnie

Let's say the market value for rent is $1000/mo and the property needs repairs How do I relate the cost of the repairs to the value of the rental property so that the quality of the property is not under or over market value? For example, how much in extra rent will I get if I redo the floors, kitchen, bathroom, rooms, etc? How much more will tile bring over vinyl floors, or hardwood over that? I guess what I'm asking is for is how to judge the ROI on repairs translated into rental income
Comment from : May the Schwarz be with you

Ok we get it you have a nice house lol
Comment from : frankenfaq

Guys, I'll add number 4 for him because he should have had 4 4 is always better than 3 So, number 4 is NEVER do a completely finished basement Simply make it look open and fresh Spray the ceiling black, off white or gray Spray the cement walls and roll the floor gray That's it Finished basements can cause problems If a pipe leaks you have to repair the ceiling If the basement floodswell you get me drift Also, you can wind up with an extra tenant living down there that isn't on the lease
Comment from : Gee purrs

What about appliances?
Comment from : Rick C

You provide great tips! Thanks!
Comment from : Elias Vynckier

Good commonsense advice The video background "music" was irritating, making it more difficult to hear the commentary!
Comment from : Nordstrum

Would you still buy an house with termites and high radon level?
Comment from : JJ Gerald

Background music way too loud
Comment from : מתיא

Great advice
Comment from : Manny Skouloudis

VERY GOOD ADVICE
Comment from : Emiko San

Ate
Comment from : Dandy Man

I disagree about the kitchen counter tops There are many great agencies that do kitchen exchanges You can buy an array of units, appliances and high grade counter tops for 10 of the retail price
Comment from : Firefly

Great info
Comment from : Nayomii Symone

Background music is too loud
Comment from : Firmansyah utama

Quick Story: My friend rented a house to a family that cooked mainly curry's He tried everything to remove the odious smell from the kitchen cabinets, but nothing worked Had to get a whole new kitchen - better to have a cheap kitchen just in case
Comment from : Sir Raymond LuxuryYacht

I put granite 12x12 tile in my kitchens It costs under $10 per square foot and looks great
Comment from : rshangrila

I live in an apartment and see many apartments in the area with astronomic rents just for worthless upgrades such as countertops and double sinks So absurd As a tenant, you could not care less if the countertops are shiny or you can parallel brush your teeth!
Comment from : Hug Dealer

I’m always learning something from your vids homie good understanding with you nice
Comment from : rodney burleson

Amen
Comment from : kirk kopak

Does your team have properties in Florida?
Comment from : Edward McGowan

This is a low key cribs episode
Comment from : Aman Mo

Background music too loud lol
Comment from : Donte Robinson

I have a question one of my rental properties is in an area that has sever hard water this can damage pipes and appliances after a few years I wanted to install a water filtering system in this property, so my tenants have clean and filtered water in the house Will this help in selling the house or increase the renting price of the house or neither?
Comment from : Sam Bass

Morris Invest, what are your thoughts on cheap granite as a means to long term durability?
Comment from : Logan Harrington

Just got a contractor bid earlier on a property and this video will save me money in the near future Thanks Morris Invest!
Comment from : More Than Martial Arts

new subscriber Keep these coming I only have one rental property and trying to gain more this year
Comment from : M Gamble

Good video but the first two points were pretty well no-brainers I thought Of course it depends on who you're renting to Still great job on the video
Comment from : Jim Bob

Dude the volume of the music is higher than your voice
Comment from : InOrlando

Awesome video! Thanks!
Comment from : Yak Motley

This only goes for renting ! If you upgrade your own house in a grade A Nabor hood it is worth every penny ! And people like to pay more if there getting a new house 🏡 In a grade a area cause they don’t want to deal with renovating I sold my house for 80 k more than asking because of the renovation I did , I would have never if I left it the way it was 1975 looking if your gonna rent out property you shouldn’t even spend a dime And you get more for more bed rooms
Comment from : P the Mutha fucka

Dude levels dude levels you're barely audible
Comment from : Charles B

"Keep it simple, Keep it cash flowing" #goldthanks for this vid, this will keep me from getting too emotionally on the next Reno project that I have approaching
Comment from : John Lewis

Forget putting in garbage disposals They are the stupidest thing and they will waste your time with service calls They have a trash don't they? They can put the old food in there Oh and I hate ceiling fans too
Comment from : lostintime86

You keep it real
Comment from : Terrance Wayne

He is wrong on the granite Laminate tops are junk and fall apart when wet Spend the money do it once and be done with it
Comment from : Erik Olep

I been using Rust-Oleum countertop resurfacing kits, $80, and bath tub resurfacing kits $45 most tenants dont care as long as its clean and fresh appearance
Comment from : 404trucker LLC

great video
Comment from : TIG2MAN0

Great info! Thanks
Comment from : Ten Plus

What’s your opinion on tiling the house ?
Comment from : M S

As a Realtor® I agree, and as an investor I agreegood job
Comment from : Gil Y

Have one question: How about Kitchen cabinets? How much money should be put in considering it’s an older home? Thanks!
Comment from : Ling & Marty Life Style

What about adding a patio?
Comment from : Casimiro Buenavista Miralejos

Hi Morris, good video Can you make a video on what appraisers look for if you are using har oney, you need the house appraised for a certain value, which means renovating the house beyond making it rent ready
Comment from : Seyi L

Central air and heat with cheap vinyl flooring VS all new ceramic tile floors and a window unit
Comment from : jay c

Well, with a quartz countertop, which is supposed to be the least distructable surface (need to do more research), there are two advantages one, being the virtual indestructible quality of it and two, you may get a larger pool of potential renters to choose from and thus, be more likely to find good tenants I have helped people look at rental properties in my area and they won't apply for sub-par places not that laminate countertops are sub-parr altogether but, if the laminate is remotely crappy, and it can get crappy real fast it will be a turn off to a lot of good potential renters But, for the most part, if you as an investor landlord want to not overspend, I think the advice is actually right on if you feel a stone countertop is a good idea, just don't do it unless you can get a good deal
Comment from : Rain Dance Ranch

The music is killing melol
Comment from : Chuck Knowles

I'm a general contractor on Long Island Good advice
Comment from : Contemplate- Matt G

My biggest mistake was thinking I could renovate a house using YouTube and Home Depot DIY books I've had it rented for 8 years now, but the quality could have been so much better
Comment from : REBELutionary1

Exactly what I think and do as well
Comment from : John Jacobsen

Inexpensive glass shower doors is better at least as a courtesy for renters and buyers You can get inexpensive granite countertops too
Comment from : Finn

Don't do anything Ok
Comment from : pollodormido2

Kill the music !!!!!!!!
Comment from : Ken H

Clayton: I have two units Currently I live in the larger one but plan to rent it out when I retire In the smaller second floor unit ( One bedroom) I don't allow the tenant to have a washer and dryer (too many accidents and ruined ceilings in the first 10 years) Besides, there is a laundromat around the corner Also, the tenants seem to do laundry for every relative within a 50 mile radius LOL Which jacks up my water bill The first floor apartment where I live is a larger 3 bedroom When I am ready to rent it out should I install a washer and dryer or stick with the no washer and dryer rule?
Comment from : Inkdraft

Subscribed
Comment from : sting sting

First of all, I appreciate all your hard work with the videos, I love all of them If I am not mistaking you invest usually homes around $70K to $100K so it makes sense to do the very simple renovation but If you do $500K rental property with 5 Bedrooms with 3 Bathroom, what are your thoughts on that? I am currently interested in a single family property that 5 Bedroom and the neighborhood is usually 3 or 4 bedroom neighborhood, I was thinking about the knockdown 1 bedroom to make master good size bedroom so I can have 4 bedrooms 2,200 sqft single family I'll really appreciate your advice in this price range situation Thank you so much
Comment from : Erman Adanir

Sounds like you pretty much do the opposite from if you were going to sell the home
Comment from : JASON M

totally disagree about the countertops Granite lasts longer (takes abuse), looks better, and you can get decent deals so you won't be paying that much more for them
Comment from : Real Cream of Wheat

The background music is completely unnecessary, too load and very distracting Otherwise, good information
Comment from : wal jim

Isn't this the guy from FOX NEWS?
Comment from : Ninja 87

Use formica and a countertop Big Box store supplies only Lowe's Home Depot Etc Kitchen floors go bad vinyl flooring is the best
Comment from : Jean Alexandre

Yes this is all common sense stuff
Comment from : Jean Alexandre

Renovate in direct proportion to the value of the house For example you would not spend $50,000 on a $80,000 house it would be more like $2,500 Common sense
Comment from : Jean Alexandre

love what you are doing
Comment from : rdrakemanagement

On a 1 bathroom homewould a simple tub/shower be better than a really nice large shower?
Comment from : jay c

I love this guy! He's so smart
Comment from : Raymond William

Clayton! I'm a 33 year old landlord with 21 units in NC I came across your channel and thought, "wait what? Is this the guy from Fox News!?" Haven't watched F&F lately, didn't realize you left last year Never knew about your real estate background and now I'm watching these videos, and I'm like wow, this dude is one of us! I never pictured a big name in broadcasting advising me to stick with my laminate countertops So down to earth! Man, I knew I liked you Thanks!
Comment from : rmpennin

good advice my wife wanna buy this house but listed for 190000 listed in nov2017 for 210000 listed for 6 month now only 190000 and i still think the house should go down more because Zillow estimate 174000 but i willing to pay 183000 what should i do? any advice anyone? i buying a house not to invest but i want to buy so rental can help me payoff house in 7 yrs needed advice
Comment from : Dat Hoang

When land lording, make the house a reasonable livable space Don't make it a palace When it comes to selling the house, put upgrades in the kitchen and bathroom If the neighborhood upgraded from B class to A class, reconsider the master suite
Comment from : Zenas Starchild