When you’re working with a hard money lender and fixing up a property to sell it, time and money are of the essence. Today’s real estate buyers are more demanding than they were a few years ago, and services like real estate staging are becoming more and more of a necessity to sell a property quickly. The problem is that professional staging companies charge between $50 and $150 an hour, which can add up quickly. If you have the money in the budget, by all means hire a professional and take one thing off your to-do list. However, many people who have taken out a hard money loan are operating on a strict budget and need to do as much of the work on the property themselves as possible. If that’s you, don’t fret! The good news is that staging can be done for relatively little money, as long as you know what the priorities are.
Make Staging Part of the Budget in a Hard Money Loan
First of all, make sure the property is clean. Pack up and get rid of all the leftover construction materials. Air out the building so that paint smells and other chemicals are gone. Then either hire a cleaning company or do a really thorough deep cleaning yourself. Everything should sparkle. Install new, high wattage light bulbs so rooms look bright and appear larger.
Remember to get the outside of the property, too. A few new plants will make the exterior look more inviting and make a good first impression. Make sure the street number is easy to see by either polishing it or installing larger numbers.
Finally, give every room a purpose. If you don’t have enough furniture for every room, do the main rooms. In a house, this means the living room, kitchen and dining room, and the master bedroom. In an office building, make sure the waiting area is welcoming and furnish at least one office. You don’t have to break the bank buying brand new furniture. You can find furniture in good condition for cheap at thrift stores, craigslist, and Facebook marketplace.
You’ll get top dollar for your renovated properties when you show them off to their best advantage.
If you need to discuss your investments with a hard money lender, contact LendingXpress. We work all over California and can help you find the right loan product for your next venture.