When someone invests in real estate, the objective is to make a profit, not simply break even. Hence, you should try to limit your real estate ventures to investment in propertieswith the highest potential to generate a profit (which could be profit through a fix-and-flip or through renting it out).
There are some tried-and-true strategies that usually help increase the value of an investment property. Best of all, the strategies described below will not break the bank.
Curb Appeal is Key
The first thing anyone sees is the exterior of any property. Hence, it is very important to invest the time and resources in optimizing the property value either by regular maintenance or professional landscaping for a complete look.
It is becoming more common for home buyers and renters (especially renters willing to pay thousands of dollars per month) to demand a property contain “smart tech” such as:
- Energy-efficient thermostats;
- Built-in Alexa or Google Home devices;
- Ring devices;
- Keyless locks; and
- Smartphone-compatible appliances.
If you are concerned about the cost of adding these gadgets, do not fret. Most home tech devices are surprisingly reasonable in terms of cost. For example, you can purchase and install a Ring video doorbell for a couple hundred dollars.
If you have at least one new device installed on the property, there is a good chance it will help increase the value and appeal of your property when it is listed it for sale or for rent.
A Well-Staged Home
When the goal is to generate profit, it is worth the expense to get it staged for showings. Well-placed and tasteful furniture and décor can make all the difference in terms of attracting the right buyers / renters.
Interested in Working with a Hard Money Lender in Los Angeles? Contact PB Financial Group Today
If you are looking to secure a hard money loan for a real estate venture, take action by contacting PB Financial Group today. PB Financial Group is a premier direct hard money, private money and bridge lender, who has been providing quick funding since 2006 and have funded over 2700 hard money/private money loans. Our objective is to work to satisfy your financing needs on important real estate projects throughout California in an efficient and effective manner. To schedule a consultation please contact PB Financial Group at 877.700.3707 or visit www.calhardmoney.com for further information.
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