Here’s a brief walk-through of one of my client’s rental properties.
Today I’m dropping off some tile and grout at a client’s investment property. We’re getting it ready to rent, and that got me thinking about the rental market. If you’re an investor or thinking about becoming one, you can still find some great properties out there if you know how to look for the right thing.
A lot of investors are looking for a cream puff, move-in-ready home. The problem is that you’ll pay for that convenience. However, if you’re willing to go the extra mile and put some elbow grease in, that investment could be really worthwhile. I’ll quickly take you through what we’re doing in this property.
To start, the kitchen is pretty basic. We painted the cabinets, which didn’t take long or cost much at all. The stove is old, but it works great and is super clean. It’s kind of like an antique car. The fridge is in the same kind of position.
The living room was a bit rougher. The walls were discolored, and the windows were cracked. We painted, cut some tile up, and installed new carpet. I would’ve liked a nice laminate floor, but we’re keeping the budget tight. Plus, we needed to turn the property around quickly because I rented it just a day after we purchased it. In just a couple weeks, we’ll have a tenant in here, and our investor will start bringing in a positive cash flow.
You can find diamonds in the rough like this if you keep turning over the stones. I’m passionate about helping people become real estate investors, and I’d love to help you find that gem. If you have any questions about investment properties, what to look for, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.