Landlords—Dramatically Grow Your Equity
Grow Your Equity
There are different approaches when it comes to investment properties in terms of profit and managing. Some owners just want cash flow—they put very little to nothing down, have a 30-year mortgage and just want positive money coming in every month.
Other landlords want the property paid off so they can keep all of the rent money without having to pay the bank interest. Either way, for the best investment results, you need to maintain the property.
The value of the unit will increase over time as long as it is maintained. Even if you are only about cash flow, why would you throw away equity because of a lack of maintenance?
Even a “slum lord” understands certain repairs have to be addressed or you will lose the property all together. A leaky roof, for example, can cause serious water damage to the building’s infrastructure. Mold will soon follow and the longer you wait, the worst the situation will become and the more you will have to pay for repairs. Renters have certain rights when it comes to what repairs need to be completed by the property owner if they are to continue paying rent.
The good news for landlords is that repairs don’t have to cost a lot. With the right expert company, the job can be finished affordably and quickly. They can even add additions and complete other construction projects to further add value to the unit.
Find out how easy it is to get your rental back up to 100% while building your equity; call Global Construction for a consultation or a quote: 479-246-0603.