I recently walked through a client’s rental property to assess its condition after the previous tenants had moved out. Let’s just say that there were a few problems we’ll need to address.
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Welcome back to “Another Day in Real Estate.” Rental properties are a great way to build wealth through real estate. Someone else is paying the rent, the property appreciates over time, and you can make a lot of money.
However, keeping a property up to date does require some maintenance and upkeep. Some people will really take care of it and some others won’t. I recently took a walkthrough of one of these properties and wanted to share my insights with you. Here’s a timestamped outline of the tour so that you can skip ahead to the part(s) that interest you the most:
1:10- First impressions/curb appeal
2:00- Living room walkthrough
3:00- A closer look at the carpet
"Some of these fixes will be easy, some of them are going to require a bit of an investment."
4:00- Bedroom/bathroom tours
5:00- Master bedroom/bathroom tour
6:00- A closer look at the kitchen/appliances
Some of these fixes will be easy, like the paint and the walls. However, some will be difficult, like the dirty A/C vents and torn-up carpet.
If you have any questions for me about this property or about any of your properties or if you’re interested in getting started investing in real estate, don’t hesitate to give me a call or send me an email. I would love to hear from you.