You’ll always want to evaluate the lifetime left on the major systems such
as HVAC, and code issues with plumbing and electric. Mitigate possible
future losses by reviewing the interior of the home from a longterm
rental perspective. The significant research to consider will be to know
your competition. Check ads and get started by evaluating what other
landlords are offering.
Will you need to consider removing old carpeting and adding value by
replacing with a vinyl tile or wood surface? Consider the ROI (return on
investment) of adding or removing appliances that are more likely to
need service, such as garbage disposal, ice makers, dishwashers and
laundry appliances.
Evaluate what impact basic cleaning and painting will have on the
property and whether you should consider updated fixtures. This would
include updated light and mechanical plumbing kitchen and baths. Often
times making those changes will bring a renovated appeal to the unit or
home without a much larger investment.
As a landlord helper we witness the big picture and investor long term
goals. We have heard directly from tenants and owners over the years
and know that both take pride in a safe clean property to call home.
Linda Liberatore
Linda Liberatore
Linda Liberatore is the founder and president of My
Landlord Helper—Secure Pay One, a unique virtual
assistant solution for DIY real estate investors. She
also is a motivational speaker and author of the book
“Daily Inspirations to Achieve Your Real Estate
Investment Goals.” Her most recent book, My
Landlord Helper—The Keys to Managing Your Real
Estate Investments and Achieving and Saving Money" reached number one on
Amazon’s Bestseller list in 2017. You can find out more at lindaliberatore.com.
PURCHASING
FOR LONGTERM
BUY AND HOLD