If you have recently purchased an investment property or are looking for that “hidden gem” of a property to invest in, it is important to understand the power of taking action and proactively trying to improve the value of the property.
No. 1 – New Coat of Paint
It is incredible the difference a new coat of paint can make to any property, especially an investment property. In terms of painting, you should select colors that are neutral and appeal to a broad audience. Do not go wild with purples, yellows, and greens. Instead, go with simple, natural tones.
While painting, you should also make sure to take the time to patch any holes and other damaged areas that were noted when you purchased the property.
No. 2 – Enhance Curb Appeal
Renovating the interior of a home is important, but it is imperative to never neglect the exterior. In fact, you should consider prioritizing the curb appeal since it is the proverbial “first impression” for a prospective buyer. Quality curb appeal includes making sure the lawn is mowed, adding some tasteful plants and/or flowers, removing old fencing, etc.
No. 3. Implementing Technology
Investing in “smart tech” items like energy-efficient thermostats, keyless locks, Ring security devices, and smartphone-compatible appliances can pay major dividends when putting a home on the market. This is especially true when you are renovating an older home that was built in, let’s say, the 1970s. An upgrade to the security system and proper placement of an Amazon Echo or Google Home can help modernize an older home dramatically.
No. 4 – Invest in Quality Home Staging
One of the easiest ways to instantly increase the appeal of a home is to invest in proper staging. Tasteful, well-placed decor and furniture can make a huge difference in receiving an offer, as it encourages a potential buyer to imagine how they would personalize the house and determine if it’s a good match.
In Need of Hard Money Loan in Los Angeles? Take Action Today
To complete the recommended steps described above, you probably need resources and liquid capital to invest in your property. Hence, you should consider the leading hard money lenders in Los Angeles, PB Financial Group. 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.
PB Financial NMLS #357614/DRE #01522495