Thursday, June 13, 2024 / by Chelsea Hilderbrand
We’ll take you on a virtual tour of a four-bedroom home—a prime investment.
If you’re looking for an investment property but unsure what to buy, don’t worry—I know exactly what kind of property can give you the highest and most stable cash flow. The secret is not the size of the house but the number of bedrooms. Today, I will explain why a four-bedroom home is a worthwhile investment, plus a virtual tour of a model four-bedroom house.
When purchasing your first investment property, it’s crucial to consider the number of bedrooms as this will significantly influence the rental income potential. Properties with four bedrooms typically command higher rents compared to those with only three bedrooms.
For example, check out the property in the video, which is under 1,400 square feet. Despite its compact size, it boasts four bedrooms, making it an attractive rental option. Tenants are more willing to pay consistent monthly rent for a home like ...
Read More
Wednesday, June 12, 2024 / by Chelsea Hilderbrand
What you need to consider when buying a single-family investment property.
Are you planning to buy an investment property? If so, knowing the right information and advice from experts like myself will help you make informed decisions and maximize your investment. In the first part of our investment property series, I’ll explain the most crucial factor that you need to consider when purchasing an investment property, especially if you’re eyeing single-family homes. To give you an idea of what I’m talking about, I’ll show you an example of an ideal investment property.
The first and most important factor in buying an investment property is its location. The property’s location will be one of the things that will determine your investment’s cash flow potential. When the property is near workplaces and public transportation, more tenants will be interested. This property here is near Park & Ride and Light Rail, which makes it more acces ...
Read More
Wednesday, June 12, 2024 / by Chelsea Hilderbrand
Investors’ guide to navigating high-cost renovations to maximize returns.
If you’re considering buying an investment property, one crucial factor to consider when evaluating its potential is the need for costly repairs or upgrades. Today, I will highlight the top 3 big-ticket items that could drastically impact your cash flow while I walk you through an investment property:
When considering buying an investment property, it’s crucial to assess the condition of the roof as this will be quite costly to repair or replace. In this property, the roof is newer and is still in good condition, which makes it an attractive feature.
“Assessing big-ticket items will reduce significant costs for the investor.”
To ensure the property’s stability and safety of the tenants, it’s important to look at the property’s foundation. This house is built on a concrete slab foundation and is a block-built structure, which reduces poten! ...
Read More
Wednesday, June 12, 2024 / by Chelsea Hilderbrand
Understanding how cosmetic flaws affect a property’s income potential.
Before you invest in a property, it’s important to know which cosmetic items to prioritize. As an investor, I’m often willing to overlook minor cosmetic issues since they can lead to better deals without significant expenses or the need for immediate upgrades. However, you need to know what to fix to get a good return. That’s why I’m explaining how three common cosmetic issues affect your investment and how to navigate them:
1. Paint colors. While paint colors might be a concern for first-time homebuyers, tenants typically do not pay more or less based on this. This means that paint is not a crucial factor when evaluating a property’s investment potential.
2. Kitchen. The kitchen’s condition is a major selling point for homebuyers, but for tenants, functionality is key. A property with a fully functional kitchen can often be purchased at a better value. An e! ...
Read More
Friday, May 17, 2024 / by Chelsea Hilderbrand
Easy tips for landlords to prevent dogs from damaging rental properties.
If your tenants have dogs, you may have to brace yourself for potential property damage. Don’t worry—this doesn’t mean you’ll have to disallow dogs on your property completely and cut out potentially good tenants. There is a way to prevent damage in three easy steps:
1. Screen your tenants. Not all pet owners are irresponsible, so you don’t have to forbid pets on your property. One way to ensure that your tenants will more likely take care of your unit is to screen them properly. Check if their pets have regular check-ups and vaccinations, and if their pets are well-trained. By asking these questions, you ensure they are responsible pet owners.
2. Add clauses in your lease. Adding protective clauses in your lease will encourage tenants to take better care of your property, and prevent conflicts in the future. Examples of protective clauses are: conducting regular prop! ...
Read More