Real Estate Investing

Invest in Real Estate - Free report with tips and tactics
Donald Trump Helps you Win Big in Real Estate - 3 Experts explain how money can be made in any Market (cd & dvd format)

 

Big Profits from Cheap Repairs

You have invested time and money on your property that you would want to realize the most profit possible in reselling it.  And, you can improve your yield opportunities without infusing a substantial amount.

Any normal Joe without skills in carpentry or plumbing, or other traditional occupational trades, can take steps to improve the sales potentials of a property.  He only needs to exert modest efforts using a few regular tools and a lot of common sense.

When a potential buyer comes to view your property, he will be apt to first notice the surrounding areas.  Persuade your neighbors to clear away children’s toys, junk cars and other undesirable items before your prospect comes.

Volunteer to mow the lawns of next-door neighbors to the left and right or dispose of their trash for them, just to be on their good side.  Sometimes, a promise of small cash gift in the event of a successful sale can work wonders in getting their cooperation.

Show them that you are preparing your own property too.  Mow the lawn thoroughly; repair any bare spots; trim the hedges; and, acquire a few dozen inexpensive flowers and plants if the weather is favorable.  Exert extra efforts in improving your outdoors; you would want to create a positive first impression.

Home inspection precedes any closing of the deal. Work on those inexpensive plumbing repairs before showing the house.  The more expensive repairs can be deferred to be used as leverage during the bargaining.  Meanwhile, fix that leaky sprinkler head that drenches the sidewalk and replace the dripping faucet in the bathroom.

Since replacing the carpet can be expensive, have it cleaned for a fraction of the cost.  Repair any small damage or cover it with a piece of furniture. You will have to reveal every flaw eventually, when you have closed the deal.  However, they need not see this in the first instance. Buy new welcome mats and small entrance rugs.

Install new screens.  They are not expensive and give your exterior a fresh and new look.  For a more economical approach, remake the screens, buy only the mesh and rubber kits but check if the frames are still in good shape.

Clean all windows thoroughly and replace any cracked or broken panes.  You will have to do this anyway before the sale can be concluded.  A relatively newer house can fetch a lower value if it is not kept clean and presentable.

Replacing defective or worn conduits in air conditioning units and heating ducts can be very expensive. Patch any holes carefully.  Aim for a professional look.  Use the silvered duct tape used in many parts of the house that are not so visible.  Replace old filters to give appliances a newer look and the air a fresher smell.

Spackle and paint is not at all that costly.  Refurbish those rooms that have seen accidents. Be careful in your repainting project. You would want to improve the room and not aggravate its look.

The buyer will appreciate your efforts in grooming your property.  He will be more inclined to offer a very good price.  Proper maintenance of any property increases its saleability.