As a real estate investor you are aware that you need to keep your properties in good shape to attract tenants or buyers. There are many things that you can do such as carpet, paint, and other things but depending on what you are doing these things can be very costly once you add them up!

The following are some inexpensive ways to improve your properties with very little cash.

1) Purchase and Install New Electrical Switch Plates

This is a minor, yet often overlooked improvement. Most rental owners paint a home and leave the switch plates for years. Some even paint over them.

New switch plates cost about 50 cents for each plate. You can replace the entire house with new plates for about $20. For the foyer, living room and other obvious areas, spring for nice brass plates. They run a little higher, however it is well worth the few dollars you will pay to make the home look nice.

2) New or Improved Doors

If you have unattractive brown doors, consider replacing them with nice white doors. You could paint them if you had to but you’ll either need a spray gun or to coat three coats of paint by hand.

The basic hollow door is about $20. It comes pre-primed and pre-hung. For about a little bit more, you can buy stylish six-panel doors. If you are doing a rehab, the extra money is well worth it.

3) New Door Handles

Once you change the doors you should change the handles as well. An old door handle on a new door will not only look bad it will look worse than it did before!

For less than $20 you can replace the old handles with new brass handles. Replace the guest bathroom and bedroom door handles with the fancy handles. Yes they cost more but it does make the home look much nicer.

4) Paint/Replace Trim

Considering the interior of the house does not need a paint job, consider painting the trim. New, modern or customized homes come with beige or off-white walls and bright-white trim. Use a semi-gloss bright white on all the trim in your houses.

If the floor trim is worn or cracked, replace it! You can purchase new foam trim that comes pre-painted in several finishes and costs very little.

5) Purchase a New Front Door

You only get one chance to make a first great impression. If your home doesn’t have curb appeal it is harder to sell the beauty to a potential buyer/renter. A cheap front door will make a house look cheap. An old front door makes a house look unattractive.

If you have nice heavy door, paint it a bold color using high-gloss paint. If your front door is old, consider replacing it with a new, stylish door.

6) Tile the Foyer Entry

Once you have the front door looking good you need to work on the entry way. Most rental property foyers are filled with linoleum floors. Consider a nice larger Mexican tile. This should cost you $100 or less.

7) New Shower Curtains

It amazes me that when you walk into a rental property most of these homes either has old shower curtains or do not have one at all. This is your money we’re talking about and if you’re not willing to put money into your property how can you expect to get any money out? You shouldn’t be cheap. Spend a small amount of money on a nice curtain rod and some nice shower curtains.

8) Paint Kitchen Cabinets

Replacing kitchen cabinets is expensive, but painting them is cheap. If you have wooden cabinets in a dark brown shade, paint them. Use a semi-gloss white and finish them with colorful knobs. You only need to paint the outside of the cabinets.

It has been said that Americans spend 99% of their time in the kitchen when they are not in the living room enjoying the television. A fancy modern faucet looks great in the kitchen. You may spend a bit more money in this area of the home but it is an investment and with a little shopping around you can often find good items at discount prices.
9) Add Window Shutters

If you have the older ugly aluminum framed windows, consider adding wooden shutters. They are available pre-primed at most hardware retailers and are easy to install.

Paint them in an offset color from the house. For example, if the house is dark, paint the shutters white. If the house is light, paint them a darker color.

10) Add a New Mailbox

Everyone has the same standard mailbox. You want your home to have curb appeal and to stand out. To do this a nice, inexpensive way could be to buy a nice mailbox. Get something colorful and that stands out in a beautiful way.

If you have any questions or you need any more suggestions please feel free to let me know.