Popular Styling Themes for Property Flips

Are you flipping your property or renting a flipped property? If yes, then ensuring that the property has a universal and cohesive design is paramount. You need the theme of the house to adhere to international standards so that any potential client can want to rent your property. Also, you need the design to be consistent throughout the house to ensure the whole property is appealing. As you look to find an attractive theme, here are three popular styling themes for property flipping.

1. Bohemian Style

If you like to exercise freedom in anything you do, especially decorating, then this style is ideal for your property flip. It includes the use of anything that you deem interesting and comfortable for your living space. Great features for this style include floor pillows, collection displays, mid-century chairs, well-worn rugs, and items that you collect during trips.

2. Scandinavian Style

A home with a Scandinavian design is characterized by functional furniture, plenty of natural lighting, minimal accessories, and a lot of space. This design has been borrowed from Nordic nations and represents their simple life. You can use natural elements like enameled aluminum, form-pressed wood, and bright plastics as well as white color pallets for your flip.

3. Modern Rustic Style

This theme consists of a combination of modern and rustic styling themes. It features a rustic design with modern accessories and furnishings. Rustic design is inspired by nature, and it includes unfinished and raw elements of wood and stone. An example of decor with rustic style is a reclaimed wood floor. Furnishings and accessories with a modern style feature steel, glass, and metal. They are normally sleek, simple, and feature minimal clutter.

These three styles will offer a unique design for your home. As you look to find trending themes to use, be sure to check the designs being used in your area.

How to Measure ROI on Home Improvements

Sprucing up your home with a few notable, yet pricey home improvements can be extremely beneficial, but it can also lead to a few unwanted consequences; lucrative home improvements can unfortunately deteriorate over time and ultimately break. However, if the home improvement is done right, it can improve the quality of life for any homeowner or renter. We reveal a myriad of strategies, on specific upgrades, to determine if an expensive home improvement is likely to break at some point, as well as the potential profitability of a few common improvements.

 It's all in the Strategies

Determining if an expensive home improvement will decay over time can often be a difficult task that could cost the homeowner or renter thousands of dollars. Although it can be difficult to judge, there are a few common strategies to determine if your next home improvement could possibly break down in the near future.

 Summertime Fun 

Adding a swimming pool to any home is a common fantasy for many individuals; the ability to cool off on those scorching hot summer days sounds like paradise, right? Well, a swimming pool can cost anywhere from $25,000 to a whopping $100,000 with an additional few thousand dollars to annually maintain the pool.

A pool owner must also be responsible for maintaining the chemical balance of the pool, as well as keeping it properly filtered. If this is ignored, the chemical balance will become unstable, which can ultimately lead to unwanted health impediments.

Raise the Roof

Replacing your roof can be incredibly good, or incredibly bad. If done with absolute perfection, it can raise the value of your home tremendously. If done poorly, it can lead to consistent leaks, drafts of wind, and falling debris that can potentially harm the inhabitants of the home.

 

An External Dilemma

Adding an external garage can offer various issues that can be an absolute headache. For instance, the garage can decay significantly over time due to the various elements that it is exposed to on a daily basis. This can ultimately lead to car damage, as well as costing thousands of dollars to repair.

How Profitable is this Home Improvement?

Increasing the value of your home, whether you rent the property or own it, is beneficial in a variety of ways. With plenty of profitable home improvements on the market, it can be difficult to select the best one.

Remodeling a Bathroom

Remodeling your bathroom has an increasingly high return on investment; dedicated planning, finding the right contractor, and a positive attitude will leave you with an improved and remodeled bathroom that will boost the value of your home.

A Stunning Appearance

Various exterior improvements, such as repainting the property and giving it a refreshed look, can actually entice more individuals to your home and give it an overall increased value. This simple, yet effective insight should not be overlooked and can be the difference of a few thousand dollars.

A Safe and Fun Space

Adding a deck, patio, or porch can lead to a significant increase in the value of your property; creating a safe and fun space in which families can gather around and bond is a valued addition to any home. Although this may be a pricey home improvement, the return on investment is well worth it.

Home Improvements that have a High Return On Investment 

1. Kitchen remodeling 
2. Bathroom remodeling
3. Window replacements
4. Landscaping
5. Siding replacement
6. Adding a porch, deck, or patio

Get Your College Housing Rental-Ready

In many university towns, students are the landlord's financial backbone. With more than half of all college students living in off-campus housing away from parents, this population represents an opportunity for property owners to keep their university-based rental units consistently occupied. But before you hand over the keys, prepare your properties for the upcoming student influx, and protect yourself from legal repercussions with sound lease agreements.

Taking care of renters: six ways to step up your space

Basic safety first

Renters and parents want to know if your place is safe. Assure them it is by installing adequate lighting on the perimeter of the property, in hallways and stairwells. Install new door locks and check window locks to keep trouble out. If the property is fenced, inspect it and make needed repairs.

Safety 2.0: fire alarms, smoke detectors and CO2 monitors

Install or check the batteries in existing alarms and detectors, and show prospective tenants where they are and how they work, and perform an evacuation drill, so everyone knows how to get out.

Privacy matters

Install solid doors between rooms, to guarantee tenants some personal and private space. Good storage is a necessity, whether shelving for textbooks or closets for winter gear or sports paraphernalia. Use every inch of space (under the bed pull out drawers, lift-top tables) to provide extra room and privacy.

Dude, where's my car parked?

Student parking's a huge plus in a college town. Provide clear instructions on where and how to park, any vehicle size restrictions and if guest parking is allowed.

Professional cleaning/pest control

Before the first renter arrives, hire a professional company to deep-clean appliances and bathrooms, and have a pest control pro check for infestation. Nothing's worse than taking the first month's rent, then getting the call that the tenant found dead roaches in the microwave.

Digital done right 

Electrical outlets, power strips and WiFi matter to today's college students; the live on their devices. Check the strength of your properties' WiFi signal, have at least two outlets per room and offer tenants a power strip for a nominal monthly fee.

Six solid lease agreements and marketing tips

Advertise where the students are looking

Wall flyers and posters in the student lounge are inefficient in the digital era. Use social media and know which sites are current with college students. If the university sells advertising space on their website, invest and reach the audience wants your rentals. Include photos of your property and add a "kicker" line to attract attention, such as rent- including utilities or cable TV.

Rent by the bed, not the apartment

This makes it easier to replace a departing tenant without affecting the status of the others living in the apartment.

Invest in background checks

It's uncomfortable to ask for anyone's references and job history, but a collegiate background check is no different from an employment check. Weed out obvious problems before they move into your unit, and save headaches later.

Keep updated contact information on renters

If a renter is missing, ill or fails to pay on time, you may need the assistance of the next-of-kin.

Be date-specific

Know the beginning and end dates of every school semester, and include them in the lease agreement, as part of the move in-move out deadlines. This allows timely turnover of property and avoids the "deadbeat dilemma" of students overstaying their paid welcome.

Put the house rules in writing

Include expectations regarding personal conduct, visitors, pets and basic maintenance in the lease agreement, and renters initial each rule, signifying they have read, understood and will abide by them, or face specified consequences.

Buy or Not to Buy - What if you think a downswing is coming?

Real estate is just like any other investment. There are good times and bad times, meaning times when the housing market is high, and others when it is low. This can make it hard to decide whether or not you should buy property (or an investment) when you are worried about a downswing.

Here are some reasons why you might want to consider buying even with a downswing.

If you are planning on keeping the home or investment for a few years, it won't matter if a downswing is coming. Most investors buy a home to sell it right away. If you do, you face the risk of the market taking a downswing. However, if you are planning on buying it to live in or rent it out for a few years, it isn't necessarily going to make a difference.

Here are some reasons why you might not want to buy property in a downswing.

You may end up losing money if you plan on selling the house right away. If you decide to buy a home, fix it up, and flip it right away, you may want to rethink that plan during a downswing. The home may be worth less after you have spent money on the renovations.

You can't afford to take the risk. There are going to be times when you can't afford to take a risk, just in case a downswing happens. If you aren't struggling financially (and you don't mind taking a risk), you might want to buy it anyway.

It is often a personal decision about whether or not you want to buy a home or investment when you are worried about a downswing. If you are planning on keeping it for a while, it may not make a difference. You can hold on to the home until the market gets better. If not, you are going to have to take a risk. Not everyone is willing to do so.

Pet-Friendly Renovations

It's a reality in the 21st century that people love their pets. Approximately 68% of US households currently have one or more pets. Whether these are cats or dogs or other animals such as rabbits, chinchillas, ferrets, or guinea pigs, Americans love their pets. People often refer to their pets like family. Mostly, if many people can't rent your rental with their pets, they are not going to be interested in renting your property at all.

As a landlord, that can put you in a tough situation. There are two sides to this. One is that these pets get viewed by their owners like family. If they can't move their entire family into the rental, they're not coming. Two is that from that landlord's perspective, pets can cause massive damage to their property and cost them money.

Charging Deposits for Pets:

Many landlords mitigate this problem by charging fees for pets to move in as well as additional monthly payments for the pets to stay at the rental. For example, currently pet fees are $250 - 500 per pet (cat or dog) and usually an additional $10 - 30 per pet each month added to the tenant's total bill.

Landlords can also add further limits on pets such as the following:

• limiting the number of pets (e.g., 2 pets per unit)
• determining which types of pets to allow
• determining if there are fees for caged/contained pets
• determining if they allow reptiles/small animals

These are just some of the choices you can make as a landlord. It's your property, so you ARE in the driver's seat when it comes to determining your rental's pet policies.

4 Renovations to Make Your Rentals Pet-Friendly:

Considering a large portion of people who rent from you will have a pet/multiple pets, you can also consider how you set up your rentals. Making rentals "pet proof" can help cause you more expense in the long run. Saving that money can make allowing pets in your rentals feel like a little bit less of a daunting task.

The following are 4 renovations that you can make to your rentals that allow them to be more pet-friendly for your tenants and less expensive for you as a landlord:

Choose Vinyl/Linoleum/Tile Floors:

Choosing vinyl, linoleum, or tile floors allow for easier cleaning-ups from pet's accidents and eliminate the risk of messes soaking into and standing carpet that will otherwise need to get replaced. This flooring are mo durable and can likely stand the test of time with pets better than carpet or other absorbent surfaces.

Use Shelves/Wall Hangings As Decorations:

Using shelves or wall hangings to keep items away from pets who might otherwise become a little too curious can help limit the risks that you have of the pets damaging your property. That also provides places for tenants to store sharp objects or anything that might have chemicals in it (such as cleaning supplies) that may otherwise be harmful to their pet. 

Install Thicker/Heavier Blinds in Units:

Not only do the thicker and heavier blinds block out more light and allow tenants to get better sleep, but they also make them more durable and discourage pets from munching on them as a teething toy. Not having to replace your blinds every time a tenant moves out not only saves your money but also makes having pets in your rentals seem like less of a hassle.

Use Non-Textured Furniture:

If you provide furniture in your rentals, consider getting furniture made out of materials that resist biting, chewing, and gnawing and don't chip or stain easily. Consider non-textured furniture as pets won't become as interested in chewing on plain surfaces as they are on textured ones. Other alternatives include metal, plastic, and resin furnishings, which can all withstand the chewing of pets.

These tips can help keep your unit less likely to suffer from chewing damages that a pet can cause. It keeps more money in your pocket and allows your tenant to have their pets, which keeps them happy and helps you reach a wider audience.

Conclusions:

In the end, this balance is about protecting your property and satisfying your tenants. Allowing pets in your rental allows you to make more income and market your rental to more tenants. These design strategies can also help you as a landlord by making your rentals pet-friendly and keeping you from having to fix too much pet damage done in your rentals.

Why You Should Invest in Properties that are Already Move-in Ready

When most people think about investing in real estate, they think about buying homes, fixing them up, and flipping them. However, you don't have to do that. In fact, you may be able to get away with buying move-in ready homes and still turning a profit.

Here are some reasons why you should think about it.

• You can still get a good deal on a move-in ready home. Some people are desperate to get out of their homes, and they will sell it for whatever they can, just to move on. You might be able to find a good investment that needs very little work and still be able to flip it for a profit.
• You may want to buy a newly updated home to invest in if you aren't able to fix up homes. Fixing and flipping homes can be a great investment unless you can't do it yourself. If you need to hire a contractor to do everything that needs to be done, you might end up spending too much money on it. You might struggle to make a profit after the renovations are done.
• You want a stable return. As you near retirement, you may not want to buy homes in any condition and fix them up, not knowing exactly what you are going to find as you start tearing them apart. You may decide that you want a simpler return, without the stress of doing renovations.

Though many enjoy fixing and flipping homes, you could easily find a move-in ready home that allows you to buy it and sell it for a profit, without doing any work to it. This is especially good when you aren't able to do the repairs yourself. You could spend thousands on labor alone! You may also decide to look away from fixer-uppers and focus on move-in ready homes because you are tired of the stress that comes with renovations.