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4 Ways to Boost Property Value Quickly

4 Ways to Boost Property Value Quickly

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Published by James R Kobzeff
Discover 4 ways you can boost your rental property value quickly, easily, and inexpensively.
Discover 4 ways you can boost your rental property value quickly, easily, and inexpensively.

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Published by: James R Kobzeff on Oct 15, 2008
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06/16/2009

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PROAPOD
®Real Estate Investment Softwarewww.proapod.com
4 Ways to Boost Property Value Quickly
 James R Kobzeff 
This real estate investing article wants to show you four ways real estate investors can increaseinvestment real estate value quickly, easily, and inexpensively.
1) Upgrade Vacant Land
If your investment is vacant land (not improved rental property), there are several things that youcan do in an effort to add value. For instance, you might consider getting a temporary use so theland can be utilized maybe as a U-Pick strawberry patch, or an overflow parking lot for a used car dealership. Clean out any junk or debris littered on the land, and try to get the neighbors to cleanup their properties, as well. If the lot is barren, consider strategically planting some trees or plants.Finally, check with the local authorities and see whether the land can be rezoned to a higher and better use.
2) Spit-Polish the Exterior
Curb appeal is the property's calling card. The first impression a prospective buyer gets as he or shedrives past or up to your income property can mean the difference between a sale with a profit andno sale at all. Start with the landscaping. Pruning or replacing plants and shrubs around the building is a good way to add very positive results immediately and in the long-term. In fact,landscaping is probably one of the best elements for you to consider first.Redesigning the property's entrance can also dramatically impact the property's appearance. As cana new walkway or the installation of a new door (many consider the "front door appearance" one of the very best single expenditures). New door hardware, a new brass mailbox, and a new brassdoorknocker around a freshly painted or new door, for instance, can be all it takes to give anoverall impression of quality throughout the building and the kind of "remodeling" that can turn adull, drab property into a fresh vibrant one that seems to beckon new buyers.How should you handle things that need "fixing"? If you're new to real estate investing, you mightshy away from properties that need a lot of repairs unless there's ample capital to handle hidden problems that could surface. Otherwise, here are some tips.Small items that need to be fixed should be completely repaired with quality material. Broken toiletseats, doors that stick, cabinets that will not open or close, plumbing that drips, and so on, are allminor things found in most income property that can be fixed without much cost. Just be sure to do
©2008 James R Kobzeff. All rights reserved.
 
it right and to use quality material.
3) Dig for Interior Treasure
If you're looking at an investment property that's priced below market, chances are it's because the previous owner failed to care for it. Turning around a property that hasn't been cared for can takeample cleaning, fixing, and painting, and may take time, but it will be worth it.Here are some quick and easy things that you can do during the inspection process to determinewhether the property is hiding a few "gems" that might give the interiors of the rental income property a fresh and more expensive look.Look under the carpet for hardwood floors, tile, or marble. These may be much easier to bring back to their natural state than replacing the carpet, and can add value. While you're at it, also look for rotten floorboards, termite damage, and worst of all, asbestos. The key is to know what you aredealing with in all eventualities, and if a problem is encountered, you can get an estimate on what itwill cost to deal with it, or walk away from the deal by using one of the outs in the purchasecontract.Check under the paint on doorplates, hardware, and railings. Countless brass fixtures and other  brass items have been discovered in older properties under blankets of paint that you wouldn't beable to replace today for less than a fortune.Tap on the doors and walls to see whether they're solid. Solid wood doors in good shape can berestored and add value to a neglected building. Solid-sounding walls might indicate block or heavy plaster, which are more costly building materials than cheap wallboard, and therein capable of adding value to the real estate. Plus, these better-quality features are sure to provide you with goodmarketing copy later.
4) Exhibit Pride of Ownership
Any owner making an effort to maintain a property in top condition and shape is an owner exhibiting pride of ownership. Thus giving the impression that the property was purchased to be"owned" and not for a fast turnover, and in turn making the most positive statement to tenants andfuture buyers. Moreover, how a landlord maintains his rental property becomes public knowledgein a short period within small communities, and even in larger cities, eventually becomes knowninside real estate circles.
About The Author
James R. Kobzeff is the developer of ProAPOD® - superior real estate investment software since2000. Do you want to work with rental property? Create complete and professional cash flow, rateof return, and profitability analysis presentations in minutes! See it at =>
www.proapod.com
©2008 James R Kobzeff. All rights reserved.

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