Putting Investment House Up For Sale: Randolph Road Atlanta Georgia Part 1 of a Series
Should I put a 60s ranch rental house I have owned for 8 years on the market? Tough decision anytime but particularly difficult decision now as the real estate market in Atlanta continues to grind along in low gear. The need to make a decision was precipitated by tenants vacating the property a couple of months prior to the termination date of their lease. We parted amicably but still left me with a vacant property at what has traditionally been an extremely slow time of the year for rentals or for sales.
Step One: Get the House Ready For the Market
Anytime a rental property becomes vacant there is usually a need to do some repairs and upgrades. This go round is no different and there are a number of items that need attention at the property. The very first step is to take inventory of the items that need attention. Second step is to start contacting the subcontractors to give us bids and estimates for the work that needs to be done. I have a large number of subcontractors I have worked with over the years. Most are hungry for work right now so getting them out to write an estimate is not a problem. I put a combination lock box on the job (also known as a workers lockbox) so the contractors can get in and out without me letting them in each time.
BUY Materials for the Job
Most of the time I purchase materials for the job directly from vendors. This is a habit I formed as a home builder. In the homebuilding business we were always concerned that when we paid for work by a subcontractor, the subcontractor might not pay his vendor for the materials he used. The vendor could then put a lien on the house we were building and we would essentially have to pay for the materials a second time to get clear title for our property. Not a pleasant situation. This happened to me one time only but the unpleasant taste in my mouth lingers! I also like to control the quality of the materials used on the job.
Purchase Window Replacements at Cofer Brothers in Tucker Georgia
One of the biggest items we had on the list was replacing the window inserts in the kitchen and in the basement. The tenants had some kind of "internal" dispute and windows were smashed in both locations. OK, not a huge deal but not your typical situation either. Tim and I went to Cofer Brothers, a local Builder Supply store, to buy the window inserts because we needed some customer service on this purchase. We were not confident about how to measure the windows we needed for replacements. We were also concerned about what windows to select for the replacement. Enter Jack a long time Cofer salesman who gave us excellent advice about the specific windows we needed to purchase. And no, we did not buy the expensive ones. We ended up with a window inseert that costs about $125 per window. Tim picked them up in his Yukon. Only one window had to be special ordered. 770-938-3200 2300 Main Street Tucker, GA 30084
Purchase Paint at Shubert Paint in Tucker Georgia
All paints are not the same. We have an independent paint manufacturer in Tucker Georgia that makes a superior product, for the dollar, as compared to the competition. We are not repainting the whole house. Just needed to pick up some paint for the interior walls, and some paint for a couple of interior doors. We bought six gallons and paint and will come back for more if needed. 2157 Mountain Industrial Blvd. Tucker, GA 30084 (770) 938-3600
Start The Yard Cleanup
Tim likes to do the yard cleanup himself so the yard cleanup process was started. The sequence is as follows
1. Trim shrubs
2. Blow pine straw off roof and gutters
3. Rake and clean lawns
4. Re-seed and fertilize lawns.
The transformation in the curb appeal of the house after this process is AMAZING. It is the single best thing you can do to get a home in shape for the market. Number two is painting!
As we have time we will add some color (pansies and other winter hardy plants) and also tackle some tree trimming.
MORE TO COME
We have more work to do. Check back in to see how the job is progressing.
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