One of the greatest opportunities for growth in real estate investing is the fix and flip method.
However, turning a profit requires being able to renovate the property quickly and being able to sell it in a very short amount of time. If the property doesn’t sell, taxes and upkeep of the property can cut into the profit you expect to make from the sale. This is why it’s important to attract buyers quickly.
One of the best ways to do that is to boost the curb appeal of the property. These quick, simple, and inexpensive improvements can help draw in potential buyers faster.
One of the first things homebuyers notice about a property is the state of the lawn. However, many homeowners don’t pay much attention to the health of the grass. Other than periodically mowing the lawn, they may not do much in the way of maintenance.
Spreading grass seed and covering it with fresh topsoil can help you grow a green and more lush lawn. Unfortunately, the growing process can take up to two months. If the lawn needs repair this should be done as soon as you take possession of the property.
After you’re satisfied with the lawn, turn your attention to the flowers and shrubbery on the property. These items may be in as much need of improvement as the lawn, especially if bushes and plants had been neglected by the previous owners.
You may want to replace some of the flora with plants or shrubs that require less constant care. While homebuyers will appreciate an array of shrubbery and plant life on the property, they may also be wary of plants that require a great deal of care.
Additionally, be wary of plant life that will all go through the same seasonal cycles. By incorporating plants that bloom at different times of the year, the landscape will always present a variety of color.
Depending on the exterior condition of the home, you may already have planned to repaint the outside of the home.
Even if this isn’t the case, touching up the trim with fresh paint is a cheap and effective way of boosting the property’s curb appeal.
Real estate investors and other home sellers are often surprised by how much better the home looks with some minor retouching. So at the very least, paint a new coat around windows and door frames.
Many houses have a mail slot, but your property may have a mailbox by the curb or attached to the house. Replacing it can be very inexpensive and may give the home a more welcoming appearance. You can select a nice quality mailbox or select a more decorative box to add style and character to the home.
If the property does just have a mail slot, you can replace the plate with a new piece. This may be especially helpful, if previous owners painted over the existing plate.
Renting or buying a landscaper’s edging tool can be a great investment, especially if you plan on flipping several homes.
Going around the sidewalks and driveways to better define the edge of the lawn is an easy and cheap way to improve curb appeal. It’s also something you can do yourself in just 30 minutes to an hour, depending on the size of the property.
Edged lawns give the impression of a well maintained property, which will make the home more appealing to buyers.
As homebuyers approach the home, they should get a warm and welcoming sense by the decor surrounding the main entrance.
This can mean doing something as simple as setting a couple of potted plants by the door and adding a welcome mat. If the home has a porch, add a few chairs and a small table.
You might also consider replacing the house numbers, especially if they look dingy or have been painted over through the years.
The more appealing you can make the entrance, the more likely buyers will want to step inside for a closer look.
By adding a simply curve to the edges of your sidewalk, you can transform a boring, straight sidewalk into a more interesting walkway. Curved and winding sidewalks add a sense of style to the property and make the exterior more appealing.
As long as you have the cement, you can also take the time to fill in any cracks you see in the existing sidewalk.
You might also decide to add small flowers or plants along the edges of the sidewalk for added appeal. Just remember to select items that won’t require extensive care or increase the costs of upkeep.
Replace outdoor lighting fixtures with newer models to enhance the appearance of the home.
Adding unique exterior lighting can give the home a more inviting appearance and encourage homebuyers to envision using the property for entertaining guests. Even if you happen to be selling the home in the winter months, adding exterior lighting can ignite the buyer’s imagination.
Updating exterior lighting may also prove to be a practical concern, if you plan on evening showings.
Another cheap and easy improvement to make is to add mulch around the exterior of the home. By surrounding bushes and plants with mulch, you can add color and character to the home.
There are a variety of mulches to consider, including wood chips, cocoa hulls, and pine needle straw. You should select one that compliments the rest of the landscape.
If you are a fix and flip investor, contact Orchard Funding and talk to a loan adviser today to secure what you need to have your properties give you the best return on your investment. Call Orchard Funding at (310) 356-7373 today.
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