‘Investment Properties’ Category Archives
by Shar Sitter in Home Staging, Investment Properties, Staging Tips, Vacant Home Staging
Yes, sometimes it really is better if your renter moves out.
I see this alot. People have rental properties and when they decide to sell they put it on the market while the renter is living in the property. After six months or a year it is still for sale and they wonder why.
You may be one of the few landlords where your tenants have beautiful furniture, keep their home spotless, and are so willing to assist you with getting your property sold.
But….if you aren’t living in a fantasy world the norm is your tenant has nothing to gain and probably a lot to lose if your property is sold. There is no incentive for them to keep it clean as a minimal starting point much less everything else that goes with selling.
Luckily this Landlord knew that.
Having all the furniture centered around the TV isn’t optimal for selling besides the fact you should never walk into the back of furniture right inside the door.
And using the Dining Room as a place to have your speakers for a jam session may not bring top dollar.
A kitchen filled with clutter….aahhh..NO.
This space had so much potential but the renter’s furniture wasn’t showing what it could be.
A HUGE master bedroom with a sitting area is a huge selling feature but when the sitting area is used for storage is just feels gross.
And this Master Bedroom retreat wasn’t feeling very tranquil.
So….let’s see what the Landlord received when they had asked the advice of Rooms With Style Home Staging.
The renter moved out, a paint color was selected, then the property was staged with modern furnishings.
An open arrangement floor plan for the living room:
An actual Dining Room:
A kitchen that now shows all the counter tops, built-in bookshelves and a place for stools.
And how about this wonderful hearth area alongside the fireplace now? What a great place for people to sit and sip a cocktail while you are cooking during a dinner party.
The Master Bedroom Retreat and sitting area….now the buyer can see what the space can be.
This property sold in six days when units directly on each side of it had been for sale long before theirs.
Don’t gamble that your tenant will do what is best for you in showing your property in it’s best light. If at all possible, take the time to have them move out, freshen the space and do any necessary upgrades and have the property staged.
It will save you in the long run.
If you need advice on what to do with your rental property. Call:
by Shar Sitter in Home Staging, Investment Properties, Vacant Home Staging
Everyone wants their home to sell quickly and for as much money as possible. But for investors it is slightly different. It is a business.
Getting a property sold so they can buy their next one is all that matters. Literally ‘time is money’.
When I met with a Realtor turned investor a couple weeks ago he told me that in 2011 he and his business partner renovated and re-sold eight homes and that he hoped to do more in 2012.
He commented that the average days on the market for them was 60 days thus they had never needed to stage. (I silently thought differently, ha).
They were currently renovating a home that was a little higher in price then the others so they thought they would give Home Staging a try prior to listing it to give it every advantage.
Depending on how it went they said they may have me stage another of their properties that had been on the market close to 60 days without an offer.
Here is the staging:
Living Room Before and After:
Dining Area Before and After:
Family Room Before and After:
They listed this property on a Friday and I got a text on Sunday saying that they had already received multiply offers and one was for full price!! I think the three days improved their 60 day average!
Both partners were thrilled with the staging, the service and the results. Because of that I was hired to stage their other property mentioned above that has been on the market about 60 days with alot of activity but without a single offer. Let’s hope that one goes as well!
If you have an Investment Property and have questions about Home Staging for Investors talk with a expert that understands the needs of an investor. www.roomswithstyle.com
by Shar Sitter in Home Staging, Investment Properties, Staging Tips
Inexpensive Kitchen Updates for Low End Homes – Home Staging Minneapolis MN
Yesterday I wrote a post “Is Home Staging A Good Investment for Low End Homes?”. My focus was a home that was going to be listed for $80,000 including a brand new garage just being built. That price is well below the median price of a home in the Minneapolis Metro area.
So, is home staging a good return on the investment for low end homes?
Yesterday’s post showed the living room and dining room as well as the selling results. Today I wanted to show you the difference specifically in the kitchen.
Remember this fact….”KITCHENS SELL HOMES”.
That statement isn’t qualified by “unless the home is under $200K” or whatever number you set. It applies to ALL homes regardless of price.
So in this tiny low end home in a tough area of Minneapolis, it has a further detriment in that it’s front door opens right smack into the kitchen. See the front door on the right? Awkward? Aahhh….yes.
So, what do you need to do? Make the buyer’s jaw drop and not have them thinking about the awkwardness.
I met with the investor and here were my suggestions:
1) Modernize – Replace the kitchen cabinet hardware with oil rubbed bronze hardware available at big box stores for 10 for $14.99. Install a ready-made composite wood blind on the window again from a big box store.
2) Create Drama – Find clearanced-out or discontinued Mosaic tile at a tile shop or big box store and install a back splash. Sheets of 12″x12″ tile can sometimes be found for a couple bucks.
3) Get Rid of Wasted Space – There is a huge dance floor in the middle of this kitchen which is lacking counter space. My advice, pick up a portable island creating more counter space as well as a modern look. The black and stainless steel island shown below was found at Big Lots for $119,
4) Fun – Add a little fun for very little money by putting a glass pendant light above the sink again found at big box stores for under $20.
Note: no new appliances, no new cabinets.
Do you have a low end investment property, home or listing and think it’s not worth putting in a little money or sweat equity? I would think again.
Take a look at the living room and dining room pictures on my Previous Post. This home sold in Four Days.
For professional advice on all price level homes call a Professional Certified Home Stager.
by Shar Sitter in Home Staging, Investment Properties, Recent Projects, Vacant Home Staging
That is a question I get a lot. “This isn’t a high end home, will home staging provide a good return on the investment?”
The investment in home staging can vary of course with the smallest investment being a Home Staging Consultation. The next level for cost is what I call ‘Hands on Staging’ or ‘Owner Occupied Staging’ and the third and usually the most costly is ‘Vacant Home Staging’.
I was called by an investor to give her a bid to stage a vacant low-end home in shall I politely say ‘not the best area’ of Minneapolis.
The list price was going to be approximately $80,000 and that was to include a brand new garage yet to be built. So you can see…..the home was well below the median home price.
This home was TINY! Apartment tiny. Two bedrooms, one bath, a super tiny living room, almost a non-existent dining room. No upstairs, no basement (unusual for MN) and a very strange layout.
The front door opened smack dab into the center of the kitchen. YUP right into the middle of the kitchen, see the front door there on the right?
(Watch for my next post for suggestions on how to update a kitchen in a VERY low end home).
YOU WILL NOT BELIEVE THE DIFFERENCE MADE TO THIS KITCHEN!!
You can see almost the entire house from one spot. I am standing in the kitchen taking the picture above, you can see one bedroom straight ahead and there is another to the right of it and the bathroom/laundry together.
That’s it. Tiny. Bad part of town as you can see by the side door. Worth Staging???
The investor was very worried. “This home has such a strange layout and it is so small”.
“Don’t worry”, I said. “It is going to be really cute.”
I helped her pick out flooring and gave her some other inexpensive improvement ideas…mostly in the kitchen….just wait till you see it in my next post!
The investor stopped by as I was finishing up the staging and her comment was: “Oh my gosh, it is so cute! It looks like a doll house!! I want to live here. Of all the home stagers listed on the Internet I sure am glad I picked you”.
It was listed on a Thursday, had showings Saturday and Sunday, and an accepted offer on Monday.
Sold in Four Days!
So….does Home Staging Pay for Low End Homes? This investor thinks so.
For investors it is all about selling quickly.
Time is money and they want to get on to their next project. The cost of staging was rewarded with a quick sale which is money in an investors pocket.
Watch for my next post to see the “After” pictures of that Entryway…I mean Kitchen. I know I have teased you enough but it is really cute. LOL
by Shar Sitter in Home Improvement, Home Staging, Investment Properties, Recent Projects, Staging Tips, Vacant Home Staging
Home Staging was new to this investor but he felt he needed some help on this vacant investment property in Minneapolis, MN. He was thrilled with the home staging results but even more thrilled when he received an offer a week later.
Excuse my language but I just need to tell you what the investor said when he first called me, “I am trying to polish a turd”.
Well, okay. I can’t say I had ever done that before but I was up for the challenge! LOL
This home was in the process of being condemned by petitions from the neighbors. Yes, it was that bad. Weeds half way up the outside walls, total destruction inside. I can see why the neighbors wanted it torn down.
But this investor had the gumption to take it on and save the home. When I saw it he had already done an incredible amount of work. Take a look:
Well, it didn’t look like a turd anymore. But the question was……could I polish it?
LIVING ROOM AFTER POLISHING
DINING ROOM AFTER POLISHING
MASTER BEDROOM AFTER POLISHING
MASTER BEDROOM SITTING ROOM AFTER POLISHING
I think the proof is the ‘offer in a week’ don’t you? Oh, and how do you think the neighbors feel??
You may not have a property on the verge of being condemned but Home Staging can make the difference in ALL properties.
Rooms With Style Home Staging and Redesign has the experience to work on all types and price levels of homes. Serving the entire Minneapolis/St. Paul, MN metro areas.
POLISHING WORKS ON AT LEVELS!