Get a property ready for Renters

I have purchased properties that I was going to rent out to tenants and use as a passive income source or as a “cash flow” property and there are definitely different things that you will want to consider as you are getting a property ready for an investor compared to getting a property for you to move into. Renters are inherently not going to treat the property that they are renting from you like they would treat a property if it was their own. With this in mind you want to go for “functionality” and not “fancy and pricey”.

I would also recommend sticking with colors that are neutral for both carpeting, and painting. Light fixtures are also an area where you can spend way too much money if you are not careful. Do your research as you are buying items for the houses like light fixtures and for faucets, toilets etc. To give you an example, I found a kitchen sink faucet that we liked and it ended up being $234 from one of the “Home Supply” stores. I ended up returning it in its box 2 days later because I found the exact faucet, including the same model number and the same brand name for just under $79. No Kidding! I was amazed. It was brand new in the exact box and worked perfectly. Wow what a savings on just one faucet. Using some of the popular websites where you can purchase just about anything you want to including light fixtures and bath and kitchen faucets can really save you a lot of money. I did the same thing with an entry chandelier, and found the one that I like at the local retail chain, and I found the exact fixture, brand name and all on the internet for 40% less. And I didn’t have to pay any sales tax on the item because it was an out of state transaction so that saved me an additional 7%. These types of savings can add up quickly and can increase your profits greatly on each deal that you work. Always shop around. Always ask if different stores price match. And when all else fails, find it on the internet. The likely hood is that you will be able to find it for quite a bit less than purchasing it through retail sores. Do what I do and get out there and do everything you can do to increase your profits. BE SMART!

Happy Investing!!!

Matt