When making any major decision, it is always a good idea to have a list of guidelines or expectations to keep in mind to ensure a good decision is made. Especially when it comes to purchasing a new home, or renting a home to others.
We keep in mind a budget, specific location of interest, commute to work, and school districts, but what about looks? The first impression makes a huge difference when it comes to interest in a property, but many home hunters will pass up an ugly property despite the fact that it fits all their guidelines. These ugly duckling properties, surprisingly enough, can indeed be profitable with some love and care. Just be sure to consider these points first.
Consider the area and neighborhood this ugly duckling property is at, if it’s in an unstable area, there’s a good chance its value will depreciate over time. As long as the property is structurally sound, it’s just ugly, not uninhabitable. Keep in mind that investing a large sum of money in this kind of property is a delayed profit situation, don’t expect instant profit. Lastly, consider if this investment is even worth the effort and reward to you.
Property Management Pros in Cleveland will be happy to help you though the process to spruce up your diamond in the ruff property. We will consult the investment process, find qualified tenants that pay rent on time, and even manage the maintenance issues that come up along the way. Reap the benefits with less stress and we will aid you in turning your ugly duckling home into the swan it has the potential to be.
Find a professional property manager in your area on our website: clevelandohiopropertymanagement.com or call us at 440-782-4062