The market is prime right now for investment purchases, with interest rates still low and inventory prices have dropped investors are starting to gobble up properties once again.
Take this one: Bought for $180,000 – invested another $15,000 to upgrade it so it will last another 20yrs. Maintenance free, all appliances replaced, kitchens and baths replaced, new baseboards, lighting and paint.
The exterior was transformed from the traditional piece of grass and patio stones – to a full deck on one side and patio stones/rock liner on the other. This way you do not have to rely on your tenant to take care of the grass. Inside – front entrance there is a commercial grade carpet glued down…to trap moisture and wik it away. No more lifting the carpet up to clean underneath it!.
Kitchen is Ikea cabinets – bought during their kitchen event…with 10% off – that allow you to either buy cabinet inserts – or drapes/rods. The tile backsplash is actual floor tile cut in thirds – cost effective and it looks great.
Half baths are great for pedistal sinks – but be sure to tile all around for the long haul. Tub surrounds are always replaced – most older ones do have mold behind – this is not good for the long run! All toilets were upgraded to a wider trap series…no more calls in the middel of the night with plugged/overflowing toilets! Yuck!
Nothing beats real hardwood! In this case a rustic Birch was chosen for its durability and ability to hide scratches.
All baseboards were replaced with a simple 1X3 – easy to install and keep clean and will last many move in’s ad out’s.
The little bit of effort makes for an easier to maintance investment for years to come!
Additional “Before & After Projects” Articles…
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