Are you planning on purchasing your first rental property in Las Vegas? If so, you've come to the right place!
Buying an investment property is still one of the best decisions to make in 2019 because, there's no better way for an investor to build positive cash flow and long-term wealth but, once the initial excitement of owning your first rental property dies down, you may be asking yourself what do you do next?
In this article will answer this question by providing you with things that you should do after purchasing your first rental property in Las Vegas.
#1 - Make Repairs And Renovations
The first thing to do after purchasing a rental property is to make repairs and renovations to the property so that you can rent that property and get it into cash flow as soon as possible.
Depending upon the age of the property, you may be lucky, because that rental could only require a coat of paint but, if the previous owner didn't keep the property and good shape, it may need extensive repairs and renovations.
When determining which repairs or renovations that you should make next, it's best to prioritize the work that needs to be done and spread out that work over the course of 6 months to one year that way you can make the most important renovations now, get your property into cash flow, and then make the more expensive renovations or repairs later on.
#2 - Hire A Professional Cleaning Company
After you hire a contractor or handyman to make repairs and renovations to your rental property in Las Vegas, the next thing that you should do is have the rental property professionally cleaned.
Obviously, this step is important because, after having work done on your rental property there's going to be a lot of dust and or dirt left over from contractors coming in and out of your property all day so it's best to hire a professional cleaning company to come in and clean your rental property from top to bottom before you rent it out to your first tenants.
#3 - Take Pictures And Video
Once your rental property has been professionally cleaned, the next thing that you should do is take pictures and video of your rental before you list your property online.
High-quality pictures and video are important because prospective tenants in this day and age will look online first to review properties before they visit them in person.
During the process of taking pictures and video of your property, you want to make a point of highlighting unique features that your property has to offer because those features may resonate with some renters and get them excited about submitting an application for your rental property.
Contact Blackbird Realty And Management
To learn more about the things that you should do after purchasing a rental property in Las Vegas, or to speak with us about our property management services, contact us today by calling (702) 903-3556 or click here to connect with us online.