Talk to people all the time this literally spent over $100,000 just on courses to buy investment real estate. Think about that for a minute you could almost pay for cash flowing property for $100,000. If you're looking for real income real estate that produces for you in have someone behind you with a résumé of over 1200+ properties That we have finished from top to bottom No need for courses here we just buy good solid real estate that our clients love and profit from. Check out my website https://realincomeproperties.blogspot.com/
This property was leased February 2021 for $1225 a month. In 2024 the rent was raised to $1325 a month. The owner wanted to keep the tenant and their budget would only fit so much for this property but it is about a $1500-$1600 rent amount property
Looks to look at the rental deposits over the years. This is the approximate net amount that was deposited in the owners account directly. After all repairs were taken out of this also so this is a proximate net to Owner.
2021 we deposited $10,997
2022 we deposited $7050 (replaced the furnace)
2023 we deposited $8462
2024 we deposited $6365
That's approximate net of $32,874 that we deposited in their account so far.
Let's look at the approximate value per MLS
If we added a bathroom for this one which would be about $12,000 and some rehab this property be worth approximately $190,000. Without the bathroom it's worth about $165,000.
Another great property with exceptional results.
Want to get the real numbers and the real profit?
Understanding what adds value to a property and what does not is crucial to your pocketbook. In this video you see one way to add value to a home.
After 1200+ homes and 2000+ rehabs I can usually pick what a property most needs and assist investors in understanding what is needed in a property. Need that type of advisor for your real estate ? Call me (Brett) 216-703-5740 Key Realty and Property Management Better Properties Exceptional Results
1. Boost Curb Appeal
First impressions are crucial, and the exterior of your home is the first thing potential buyers will see. Start by refreshing the landscaping with new plants and ensuring the lawn is well-maintained. Adding modern outdoor lighting and updating pathways or driveways can further enhance the home's appearance. A fresh coat of paint on the exterior, especially the front door, can also make the property feel inviting and new.
2. Update the Kitchen
Kitchens are a major selling point, so this is one of the first spaces to consider updating. Although replacing your cabinets will best appeal to buyers, painting them or replacing the hardware can make a big difference if replacing them isn't feasible within your budget. Swapping old countertops for quartz, marble, or granite can also give a more luxurious feel. Energy-efficient appliances, like an induction cooktop or convection oven, are additionally strong selling features appealing to modern buyers. For a sleek touch, brighten the space with new lighting, such as pendant lights over an island or under-cabinet lighting.
3. Modernize the Bathroom
Buyers love updated bathrooms. Start by replacing outdated faucets, showerheads, and towel racks with modern, stylish versions. If the bathroom tiles are old or worn, consider replacing them or at least the grout for a cleaner look. New vanities with space-saving designs are appealing, as are contemporary mirrors and lighting that enhance the overall brightness and size of the room.
4. Create Open Spaces
Older homes often have smaller, compartmentalized rooms. Opening up spaces by removing non-load-bearing walls can create an open-concept layout, which is highly desirable. This can make the home feel more spacious and modern, as newer homes tend to have this type of layout. If major structural changes aren't an option, replacing doors with sleeker designs, like sliding barn doors, can still help to modernize the space.
5. Replace Carpets
Old carpets can make a home feel dated. Replacing them with modern flooring options like hardwood or luxury vinyl plank can give the space a clean look. If the home already has hardwood floors, refinishing them can restore their original beauty and instantly update the home's appeal.
6. Add Fresh Paint and Neutral Colors
One of the easiest and most effective updates is painting the home in light, neutral tones. Colors like soft greys, whites, and beiges create a clean, airy feel that will appeal to many buyers. An accent wall in a modern color can add a touch of contemporary design without overwhelming the space.
7. Upgrade Lighting and Electrical Systems
Replace old light fixtures with modern designs. Recessed lighting in key areas like the kitchen or living room can create a bright, welcoming atmosphere. Smart home technology, such as smart thermostats or lights, adds appeal for tech-savvy buyers. Plus, don't forget to update old outlets and switches for a seamless, modern look.
8. Improve Energy Efficiency
Energy-efficient homes are highly sought after these days. Consider replacing old windows with energy-efficient models and improving insulation, especially in attics and walls. These upgrades can save buyers energy costs, making your home more attractive. Additionally, swap outdated incandescent bulbs for energy-efficient LED lighting.
9. Fix Structural Issues
Before listing your home, ensure that any major structural issues, like roof repairs or foundation cracks, are addressed. Neglecting these can turn buyers away, even if the home is otherwise updated and modern.
10. Focus
Focusing on these key updates allows you to transform an older home into a modern, desirable property. Not only will it attract more buyers, but it can also boost your asking price, making these investments well worth the effort.
Spending the right amount of money that adds to your value is a huge factor in what type of upgrades you should choose.
Getting a property Leased and keeping the tenant for the long term is the Key to Success. Our average for homes is 24-28 months per tenant.
Getting it leased is an average of 18-30 days with our unique Marketing System. Get Success with our Property Management System
Call me (Brett) 216-703-5740 Key Realty and Property Management Better Management creates Exceptional Results