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Updated about 6 years ago on . Most recent reply

User Stats

399
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341
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Patrick Menefee
  • Real Estate Coach
  • Charlotte, NC
341
Votes |
399
Posts

First property questions

Patrick Menefee
  • Real Estate Coach
  • Charlotte, NC
Posted

Happy Monday all!

2 hours ago I closed on my first house, 2br/2ba single family. I purchased with a VA loan and negotiated for seller credits, so total out of pocket expenses are $575 for the house (pretty excited about that). My plan is to hop into a second property after a year and rent this out.

The house was recently flipped internally, which I guess would make this a turnkey of sorts. It fit my goal for the first property which was to learn the house buying process by buying something move-in ready that I didn't have to do any interior work on (all the main capital equipment has been replaced in the past few years) since I travel every week. 

There is definitely some minor exterior work that can be done-cleaning up landscaping, adding shutters, finishing the fence, edging the driveway, etc. That's where my main question lies.

Is there any general rule of thumb about ROI for exterior work? Any specific curb appeal pieces that can help increase the rent I receive? The below pic is the front as-is for reference.

Thanks!

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