Ultimate Chapter 3 Hacks for Boosting Property Profits Instantly
Implementing Value-Add Strategies
Implementing value-add strategies is another powerful way to boost property profits. This involves making improvements or renovations that increase the property's value and appeal. Common value-add projects include upgrading kitchens and bathrooms, enhancing curb appeal with landscaping, or adding energy-efficient features. According to the National Association of Realtors, kitchen renovations can recoup up to 80% of their cost in added property value4. By strategically investing in such upgrades, you can command higher rental rates or sell the property at a premium.