Okay so I purchased my first rental property, yay! I paid a total of 39,154. The home rental value is somewhere between 700-800/ monthly. I listed it for 750 and have several people interested in the house who I have pre-screened! I decided to to list it for 750 because the upstairs bathroom is very small and has a low sloping ceiling which makes it quite unattractive and less functional! The home has been recently renovated! It needs a HvAC system which I have already received a quote for 4K, and plan to install it next week. I also plan to replace light, sink, and shower fixtures($200-300). Plus, replace the hot water heater ($700)! I showed two potential tenants the home today and the feedback they provided (after hearing what all would be replace) was that they didn’t like the miniature electric stove and low sloping bathroom upstairs. The stove really isn’t an easy fix bc the washer hookup is located beside it and will require a certain amount of space. I really want to make a good impression on perspective tentants without breaking the bank! Should I replace the stove and let the tenant deal with the washer size? Or should i remain hopeful that a good tenant will be willing to rent the house despite these issues? Also should I be showing the house without all the upgrades? Needless to say neither vier was interested in applying for the home. Today was my first day showing the home! I still have 5-6 other showings schedule for this week!
