New Rental Home Walk Through In Little Rock

New Rental Home Walk Through In Little Rock
It is Cory Cox with Clear Property Management. We are at our latest investor rental home purchase. One of our out-of-state investors just purchased this three bed, two bath home here in Little Rock, Arkansas. It’s located right there off kind of Rodney Parham so it’s in a good area right off that main drag. We should be able to get a lot of traffic through here once we kind of get this place up and going.

I want to kind of show y’all how some of our properties are left. I’ll then come in at this point and kind of say, “Hey, based on its current condition, you need to do this, this, and this, to just try and get it rent ready.” Obviously the previous owner did not do any cleaning for us as it’s in fantastic shape, but that is the way that it goes, so got to spend money to make money.

So coming in the front door you can kind of see it’s at the end of a cul-de-sac. Looks like they did not clean it. Coming back through here, guess this could be your breakfast area right there. Kitchen of course, decent size. I thought some of these appliances were leaving, but I guess not, which is a good thing.

We will step out here into the backyard. Not too much of a backyard, but it’s got enough. Like I said, there’s a ton of stuff left and if I was a betting man, I would bet that that shed has a ton of stuff left in it. You can even see too, a lot of the leftover stuff on the side right there.

Coming back in, obviously up on the walls, that’s all going to have to be repainted. You can kind of see that crack probably from settling. But yeah, you can definitely see the color differences right there. If we can get some lights on. Yeah, in pretty good condition. Let’s go ahead and go downstairs. So I guess this would be your master bedroom down here. Coming through, some lights going on, still got the paneling, which that’s fine. One thing that I did notice is whenever I was doing the initial inspection on this place, there was a closet right here. Technically without a closet, this is not considered a bedroom. This is just considered a living area. Okay, nevermind, yeah, it’s heated and cooled. To constitute a true bedroom, not a lot of people know this or whatever, but you got to have a closet and you got to have a window and you got to have access to it, obviously. But anyway, so with this, obviously it’s got windows and stuff like that, so that’s fine, but most likely you’re going to have to do a closet. With this being a rental, honestly, it’s the investor’s point of view. I don’t know if he would truly do a build out closet then at that point, but I would suggest at least kind of like a makeshift closet or a furniture piece or whatever it may be, so that way these tenants can have a true spot to put all their clothes.

Anyways, this is off what I would consider again the master. Kind of got some storage area. This is where the washer and dryer will go right there. Older HVAC unit, water heater looks to be in pretty good shape. Does not have a bottom pan. Inspectors would hate that. Coming in here, it’s your master bathroom. If they’re painting and stuff like that, I would suggest painting all of this yellow or whatever color this is. Going to need some blinds everywhere. Yeah, pretty basic. Floor doesn’t look to be in too bad shape, maybe just a little buffing. A good cleaning will go a long way to be honest with you.

Rolling up the upstairs. Got three bedrooms up here. You’ve got this, like I said, some more discoloring on the wall. Going to need a air return cover right there. Have a smaller closet, but that’ll work. See something like that right there, see that’s a good example right there of how you could build that out downstairs, just sheetrock it up and then that way your downstairs can be a true master down there at the bottom if you ever wanted it too. But like I said, rental wise or whatever, they just need a spot to put their clothes, so you don’t really necessarily need that.

Coming in here, I actually love this blue. That’s actually a really nice blue. Obviously it’s going to have to be painted. I wish I knew whatever color this was, but it’s going to need a good painting. This is another, something about with these older houses is the trim around there, it’s just all rotted out. It’s the name of the game sometimes, you can even see it too over here. Got a good size closet in here.

This was actually the baby’s room is what it was. So you can tell this one’s a little bit more beat up as they had several things hanging up on the wall and what not, really large closets in here and kind of a makeshift, again, like I said, with these windows, man, you’re just going to have to do something with it.

This is kind of a makeshift Jack and Jill bathroom and the reason why I say it’s a Jack and Jill is because you’ve got entrance over here, entrance over here, but you wouldn’t want to make this your master and close that off because then you’re going to have to go back and forth. Obviously this is a nicer shower area than the bathroom that is downstairs. But again, like I said, it just doesn’t make sense. You’d have to make your master more of a downstairs type place.

I don’t know if he’s going to want to replace this flooring or what, but it’s definitely going to need a deep cleaning. Got a lot of soil and stuff like that in there, basically throughout, especially on the stairs and stuff like that with heavily trafficked areas.

But yeah, not in terrible shape, not in great shape, but it is what it is. This is kind of my thing. Like I said, I’ll go ahead, I’ll put in this report and send it to the owner and then at that point he will contact his contractors of choice and start getting the ball rolling. Once it kind of gets closer to an actual true listing period or a make ready I guess period is a better way of saying that, I’ll then come back in, reevaluate it, see what the market’s like, see what kind of repairs he truly did and did not do and based on those repairs is how I can base the projected rental numbers.

I think this will be somewhere around the $1700 mark, somewhere around there. Like I said, if you can give some little love to that master in there, truly put some closet area and stuff and then of course updated everything else throughout you will be in good shape.

Anyways, if y’all have any property management needs in the central Arkansas area from Little Rock, Conway, Benton, Cabot, Maumelle, or anything like that, give me a call today.

Clear Property Management
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