I won't go into the particulars in the Phoenix metro real estate market right now, only to say there are bidding wars on just about everything. I--and every other active real estate agent--am utterly exhausted.
I am currently working with a first time investor and we finally found a home that I thought was priced well, would provide a great return on her investment and would be in a neighborhood to attract desirable tenants.
When I presented it to her, this first time investor responded that the pictures weren't very "pleasing to the eye."
Ok, seriously? She saw a picture of the garage door, completely bypassed the fact there was a ready made tenant who wants to stay and pay a sizable sum of money for rent every month--with a lease already in place. She also missed the part of about the substantial cash on cash return and a great cash flow every month.
All I can say, for those of you with half an interest in buying a rental property and don't like the color of the garage door, is $60 in paint might be worth it for a good investment.
Wednesday, April 04, 2012
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It never ceases to amaze me when folks view a property (whether for investment or personal use) and they say the color scheme is a deal breaker. IT'S PAINT! Another head banger is when they view the property before the seller has moved & they cross the property off their list because they didn't like the way the seller had it decorated. ??? Newsflash! I don't think the sellers are going to leave their stuff. LOL
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