Bill Bronchick
I
have been working with several investors purchasing investment properties over
the last few yrs. and they are always looking for low
cost ways to make their rentals or fix and flips rock. I came across a few great ideas, and here is what I found. Simple
easy and make an impact on the home.
I still find it amazing when a renter walks through that door to look at the property, 1st impression make all the difference in the world. It's a emotional rent. Renters are a different today, X home owners, and they want there rental to be in Pristine Condition, they just dont rent anything. Home improvements investors can make dont always require a big investment, and with a
little ingenuity and elbow grease, you can find cheap ways to spruce up
your home without costing a bundle. Carpet and Paint can be expensive, 5K-10K easy, but most of the investors I know want to put as little as possible into that property. Below are several improvements you can make that wont break the bank, your RENTAL will ROCK, really make it stand out, a few basic improvements to improve your properties with very little cash.
#1) New Electrical Switch Plates
Minor, yet adds so much to the appearance. Most rental owners and
rehabbers paint a unit and leave the old, ugly switch plates. New switch plates cost about 50 cents each. 
#2) New or Improved Doors
Nice white doors.
The basic hollow-core door is about $30. It comes pre-primed and
pre-hung for a little extra .
#3) New Door Handles
For about $10, you can
replace the door handles . Replace the guest
bathroom and bedroom door handles with the fancy “S” handles (about $20
each).
#4) Paint/Replace Trim
Use a semi-gloss bright white on
all the trim in your houses.
How bout that outside trim, people like color , be brave and opt for some color on that trim, It'a a lot less then painting the whole house. If the floor trim is worn, cracked or just plain ugly, replace it at a costs less than 50 cents per linear foot. Create a great
first impression by adding crown molding in the entry way and living
room.
#5) New Front Door
It is TRUE, you only get
one chance to make a first impression. A cheap front door makes a house
look cheap. An old front door makes a house look old. If you have nice
heavy door, paint it a bold color using a high-gloss paint. If your
front door is old, consider replacing it with a new, stylish door.
#6) Tile Foyer Entry
After the
front door, your next first impression is the foyer area. Most rental
property foyers are graced with linoleum floors. Consider a nice 12″
Mexican tile. An 8′ x 8′ area should cost about $100 in materials.
#7) New Shower Curtains
It
amazes me that many landlords and sellers show properties with either no
shower curtain or any ugly old shower curtain in the bathroom. Buy that new rod and fancy curtain.
#8) Paint Kitchen Cabinets
Replacing
kitchen cabinets is expensive, but painting them is cheap. And dont forget to replace that faucet. Look for them on sale, Cabinet pulls can transform a kitchen cabinets into a designer showcase. Try IKEA for cheap pulls.
#9) Add outside Exterior Vinyl Shutters on the front
If you
have ugly aluminum framed windows, consider adding wooden or plastic shutters
outside. They come pre-primed at most hardware retailers and are easy to
install. Paint them an offset color from the outside of the house.
#10) Add a Nice Mailbox
Be bold, stand out , buy a nice colorful mailbox. People notice these things and they like
them!
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