When a tenant moves out of your property, we recommend taking that time to not just slap on a fresh coat of paint and call it a day. Take advantage and upgrade dated and worn out areas of the home like kitchens and bathrooms with new tile and granite which can be done at a reasonable price (increasing value for tenants and rents for owners) and fixing any foreseeable problems (decreasing deferred “emergency” repairs). Take care of your properties and they’ll take care of you in the long term.
3828 E Grand Pomona, CA 91766
Current rent - $1495
New kitchen design layout, cabinets, granite. New tub and tile surround and vanity for bathroom. Remove washer hookup from inside kitchen - Place in new laundry cover outside. Ceramic tile flooring throughout. New dual pane windows. Exterior painting. Copper re-pipe.
Sometimes the best investment is right under your nose. Your own property may very well give you the best return. Instead of ONLY looking to sell and trade up, consider investing that additional capital in what you already have!
*Multi-family 8 Units
*Previously valued at $1.2M
2738 Walnut Grove After
After rehab - appraised to $2.2M
*Rent per unit went from $900 to $1,650 per month
*Cash on Cash return: 15% Annual
This increased total cash flow by $6,000.00 per month while the expenses stayed the same.