Selling property In a year

[Laura Harris]

Hi All,

I am gearing up to sell my rental property at the beginning of 2025. To preface, this is my first rental property purchase and unfortunately, I realized halfway into owning the home, that the home is way too old, with many problems left behind by the flipper who tried to cheaply fix a lot of the issues. So the home is costing me way and the returns can't even cover the expenses. I currently have tenants but during this year I would like to start making small improvements and gearing up for the sale. What advice can anyone give on what can be done?  during this time and also next year once my tenants move out ?

[Kiernan LaFaver]

If there’s a laundry list of items that need to be fixed, I would recommend starting with the ones that will return you the most money. Items such as floors, bathrooms, and kitchens will almost always be worth investments. Not saying it needs to look like a magazine cover, but make them appealing to potential buyers if possible. If you’re able, take a tour of the house as if you were a potential buyer and nitpick everything that’s wrong with the property and prioritize what repairs will return the most value. After that, make minor repairs as necessary as budget allows…fixtures, countertops, all that little stuff