When starting your journey towards purchasing investment properties you must determine if this is the right move for you. I have created a list of items to help you understand everything involved and how to make sure you are making a good investment. Consider purchase price, budget for repairs, budget for upgrades, resale value and holding costs.
Rehab/Resale Checklist:
Exterior:
Exterior finish - repair, replacement, painting/staining
Roof - repair or replacement
Windows and doors - repair or replacement
Curb appeal improvement
Landscaping
Exterior decks, porches, and patios
Driveways and sidewalks
Interior:
General repairs
Hardwood floors - refurbishing or refinishing
Other floor coverings or carpeting
Painting and wallpaper removal
Light fixture replacement
Cabinet and door hardware replacement
Remodeling - opening or moving walls
Kitchen - improvement or remodeling plan
Baths - improvement or remodeling plan
Transformational feature (new molding or woodwork, built-ins, additional baths, fireplace, etc)
Mechanical:
Furnace
Water heater
Air conditioner
Electrical service and wiring (house and garage)
Garage door opener
Plumbing repairs
Structural:
Foundation
Framing
Eradication issues:
Mold
Asbestos
Radon
Water leakage or seepage
As determined in an average price range and property, the following is a list of the highest returning improvements; in other words, those with the most positive impact on value for the cost.
Egress window in basement
Mudjacking/sidewalk/stoop repair
New garage
New driveway
Deck
New front door
New garage doors
New siding
Minor kitchen remodel
Minor bath remodel
Attic bedroom addition
Interior and exterior painting
Refinish hardwood floors
Replace carpeting
Replace light fixtures
Make sure the numbers work! And please call and we will help every step of the way.
Maria Susana Huntwork
Licensed Realtor #405-692-94
Phone: 612-322-0132
Email: mariasusanarb@gmail.com
Website: https://www.mnhomemaster.com/
3495 Northdale Blvd NW #200
Coon Rapids, MN 55448