One way to increase the value of your investment property is to have up-to-date and clean financial statements. Everyone knows that investment properties are sold on the basis of cash flow. If you only have your tax returns or a spreadsheet that you built, telling the story for a buyer is going to be hard. Keep clean books, track capital expenditures and be willing to let the numbers tell a clear story. If you can let the numbers tell a very clear, concise and compelling story, the selling will come easy. It is when you have to tell a story that is not backed up by your data or you are talking into the future potential that your value will start to be discounted. Stay out of that space, and you will be successful. MAINTAIN CLEAN FINANCIAL STATEMENTS
OFFER PACKAGE LOCKERS Everybody orders items from Amazon, some more than others. Having the convenience of package lockers allows residents to pick up their packages in a safe and secure way 24/7 365 days a year instead of having to be home to get them or relying on picking the packages up when office staff is around. There is an upfront cost and a yearly maintenance fee, but you can charge a sign-up fee and as little as $15 per unit to more than recoup that money. Say you have 100 units, that’s $1500/month times 12 months divided by a 5 cap, you’ve just added $360k of value to your property. I understand that you may have fewer units and there are some costs but regardless, you created a win-win for you and your residents!
HAVING THE CONVENIENCE OF PACKAGE LOCKERS ALLOWS RESIDENTS TO PICK UP THEIR PACKAGES IN A SAFE AND SECURE.
IF YOU CAN LET THE NUMBERS TELL A VERY CLEAR, CONCISE AND COMPELLING STORY, THE SELLING WILL COME EASY.
Gary Lipsky Real Estate Investor Author of Best in Class Read Gary’s Book
Logan Freeman Co-Founder Xchange CRE Connect with Logan
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