Updated over 9 years ago on . Most recent reply
Turning Slums into Good Properties
While out networking my partner and I started talking to an investor that is looking to get out of being a landlord. His properties were once really nice, but as he has aged he has been unable to keep up with the properties as well (he is over 80 years old) and now his rentals have become the slums. After doing our due diligence with the surrounding area we have found that his properties really are the blight in the neighborhood. We are discussing buying the properties, but how do we go about changing the reputation of the properties? We have funding to totally gut and remodel them, but we will be in a crunch if we cannot get renters in quickly. Anyone have any tips for helping us fix the reputation of these units?
Thank you for the advice,
Allen Fletcher
Most Popular Reply
Have an "Open House" on the first one, walk around the neighborhood and personally hand an invitation to the folks that live there. Have a little barbecue in the front yard with balloons and all.
You're letting them know you are going to turn these houses around and when they see your signs in the yard, it's going to be better then it was.