Craig Hall writes that during the time you own an investment property, you should take advantage of every opportunity to increase its value — and ultimately its sales price. The key is to not buy properties that are already in perfect condition. Always buy opportunities. Then decide what aspect of the property you plan to improve. Time the improvements so that the market will pay for them. In other words, if a market has a high vacancy rate, chances are good that money you spend on improvements or even marketing your property won’t increase it’s occupancy.
There are several ways to enhance your net-operating income and improve the bottom-line profit when you sell. These include cosmetic improvements and deferred maintenance, major rehabilitation, new economic uses, operational improvements, marketing and financial engineering.
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