What Should You Do AFTER Buying An Investment Property?
Are you planning on buying an investment property in the Central Valley? If so, you’ve come to the right place!
Like most new investors you may be excited about purchasing your first investment property but once you’ve purchased it, you may be wondering what are the things that you should be doing next? This is why in this article, we will provide you with a list of steps that you should follow for things that you should do after you buy an investment property.
#1 – Make Repairs And Renovations
After buying your first investment property, the first thing that you should do once the excitement wears down is hire a contractor or a handyman then ask them to come out to the investment property to review the condition of the property and make recommendations for anything that needs to be repaired or renovated.
Depending upon the age of your Central Valley rental property, it may have been well-maintained in the past and only need a coat of paint but, if the previous owner did not maintain the property, you may need to make extensive renovations to the property before it’s ready to rent.
When it comes to you repairs and renovations, you should prioritize the most important things that you need to do right now in order for you to get the property in rent ready condition. You may be able to wait for another 6 months to one year on bigger projects until after your property is cash flowing.
2. Get The Property Professionally Cleaned
Once you have the rental property inspected by contractors and a professional handyman, the next thing that you should do is hire a professional cleaner to come in and clean the property from top to bottom.
This step is important because, if you try to rent a dirty rental property, applicants will be repulsed by the condition of the property and wonder if-if there is something wrong with It.
3. Market The Rental Property Online
After following steps one and two, the third thing that you need to do after purchasing a new investment property it’s to start marketing that property on the internet.
Thankfully, there area wide variety of websites for you to choose from in this day and age including sites like rent.com, apartments.com, Craigslist and also Facebook for you to Market your property.
Before listing your rental property on the internet though, make sure that you have high-quality digital photos and video taken of the property because prospective renters will first investigate the property online and you want the best possible pictures and video for them to view so that they can have confidence that it will be a property that they want to visit in person.
Get Central Valley Property Management
As a new owner, one the most important things that you can do when renting your first property is hire a professional property management company to manage that rental property for you.
Professional Property Management will save you the time, money and hassle of managing your rental property yourself.
To learn more about the services that we can offer you contact us today by calling 209-572-2222 or click here to connect with us online.