Showing posts with label investor. Show all posts
Showing posts with label investor. Show all posts

Monday, September 21, 2009

3 Things NOT to do when Improving Curb Appeal

One of the questions that came in last week was from a rehabber finishing up a job he was going to flip, and was just about to put it on the market. He took a picture of it, and sent to me, asking me to give him a few pointers on what he could do to spruce up the outside of the property, to make it more appealing to buyers. His question spurred me to write it down for this topic.

1. Do NOT let your landscaping grow too long, even for one day.


Nothing says "No one cares about me" like an unkempt lawn. Potential buyers drive by your property every day. If they happen to see a lawn start to grow a bit higher than the other houses on the street, the emotional part of their brain (the one that actually makes their buying decisions) immediately turns off, and so goes the potential sale. After the initial cleanup my landscaper does, I always have the lawns cut at least once every week and a half, if not once a week.

2. Do NOT ignore your gutters & roof.

You have beautiful doors, new siding, new cement steps with beautiful wrought-iron handrails, and an excellent landscaping job. You stand back to admire your work... and realize there are rust stains all over the gutters. I want you to notice how all your attention turns away from the beauty of the house, to the ugliness of even those 4 rust spots on the gutters. Take care of them! The same goes for any fishing of roof shingles. If you notice shingles coming off or loose upon purchasing the house, it's probably a good idea to figure in a whole new roof, in your purchase price.


3. Do NOT overdo it.


It's not always necessary to tear out every tree & shrub surrounding the property, or to replace all the siding, doors & windows to give the house a new, fresh look. You want the buyers to pull up and say, "Wow. This looks better than the others I've seen in this price range."

THAT'S the key... to be the nicest looking house (inside AND out), at the lowest price in that area.


Some tips on what you CAN do:

1. Start by looking at all the other houses on that street. Do they all have vinyl siding? Do they have roofs newer than yours? DO they have white picket fences outlining their front yards, or shrubs, or nothing? The chances are good the buyers will also see your house compared with others on the street, and they will want to see at least similar features... your goal is to be the best & brightest.

2. Repaint the exterior a bright, neutral color (here is where you can look to the other houses in the neighborhood). If it's vinyl sided and is not in need of repair / replacement, power wash it. You'd be amazed how much brighter a house can look once it's been power washed. And - if it has a detached garage - remember the garage door!

3. Add fresh mulch: If there are shrubs or plants around the entryway or the street, a good way to make them stand out is to add fresh mulch around the plants. This also makes your green lawn stand out better, in the high "pride of ownership" areas.

4. Add a new mailbox. Sometimes, it IS that simple a change to make the front of a house look good. If it's a high end house, I like to use the granite columns with black mailboxes. If a lower end house, a nice wood post with a black mailbox will do. If theres no lawn, then it's more important than ever to add a nice "high-end" look to a mailbox you'll bolt to the side of the door.

5. Give it a "Wow" factor. Many times, it's as simple as going with a really nice front door from Home Depot. Make it the next model up from what everyone else on the street has. Sometimes, it's installing a containment wall with nice stone or brick, which makes it so the buyers do not see an ugly dirt hill as they approach your property. Repainting the shutters, or even adding a small hose-powered fountain are other small ideas that will give them a nice feeling as they approach.

Hope these tips were helpful to some of you rehabbers out there (and some of you wholesalers, too)! Keep those deals going, and as always,

Happy Investing!

Monday, August 24, 2009

Nick's Update - Blogging, Events

Gosh. Blogging is so hard. You'd think it would be easy for me to actually follow my schedule, and it says, "BING! Nick, time to update your blog." I then look at this page, blankly, not having a CLUE what to write about, as I'm still learning every day on this new technological revolution. I stare at it for more than 5 minutes, until I think, "what a waste of my time," and go work on something else.

Anyone else have this same thought when it comes to blogging? No? Just me? Fair enough.

Anyway, tons of activity and big stuff cooking on AARE's plate over the past few months!

1. We want to welcome Julia Walsh to the AARE team! Thank God for Julia, who officially joined our team a few weeks back as our Marketing Director. A graduate of UNH, she comes from a marketing background amongst a whole range of industries, and now she is the one who calls me and yells at me... "You haven't updated your blog in HOW long? Unacceptable! Get in there tonight and DO it." And so, it's being done.

2. What a GREAT seminar we had in Chelmsford in July! We did a talk on how to analyze the "big deals" (multi-family investing, over 100 units), and had a turnout of over 50 people at the New England Real Estate Investor Association, in Chelmsford! Fantastic stuff, everyone who attended received our multi-family analyzer to make it easy for them when they're figuring out which deals are good, and which belong in a dumptruck. Thanks to all who came!


3. I also had the pleasure of being on the panel of "expert guests" at the Boston AREIA D.E.N. meeting, in Boston, where investors brought their deals to the table, and four of us (including Ann Bellamy, finance expert & HM lender; Matt Desrochers, attorney; Mark Dickey, Commercial RE agent) either put our stamp of approval on the deal presented, or gave reasons why we didn't think it would work. FANTASTIC JOB to the investors who brought the deals... everyone we spoke to said they learned a lot from the event, and we look forward to participating in this meeting again! First Tuesday of the month, check out the BAREIA site for details.


Anyway, lots of stuff... and I'm already going to get yelled at for making this blog too long. We're going to start a regular blog that will encompass and give tips on investing strategies, which we probably should have done from the beginning, so stay tuned!

Happy Investing,

Nick