SEATTLE AVENUE

In marketing investment real estate, putting some “pizzazz” into the sale is important because purchasers weigh emotional and eye appeal as well as financial considerations in making a buying decision. Much of this is common sense, but common sense is not that common. Always, always remind yourself that most people are doing nothing. Following the Action Principles, being a person of action is your strength.

1. Scrub and clean common areas
2. Clean basement and attic storage areas
3. Replace mailboxes
4. Replace building and unit numbers
5. Paint hallways
6. Paint egress doors
7. Rake yard, sweep walkways, parking areas, porches, etc.
8. Mow, sod, seed lawn
9. Trim shrubs and add more landscaping, especially flowers
10. Decorate hallways
11. Add individual storage bins to basement
12. Replace light bulbs with higher wattage and leave lights on where possible
13. Add spotlights to parking areas
14. Write and distribute a tenant policy manual
15. Prepare an improvement schedule anticipating buyer reaction
16. Have a professional photographer take a photo of the property
17. Tend to all minor repairs
18. Replace egress and unit entry lock sets
19. Scrape off and touch up exterior paint, wrought iron railings, etc.
20. Prepare parking plan, if appropriate
21. Photocopy all leases, plot plans, building drawings and other relevant building documents
22. Arrange representative sampling of apartments with accommodating tenants and rotation schedule for showings
23. Discuss resident manager’s role or role of on-site maintenance personnel, if appropriate, before showings
24. Follow-up showings with your agent

Master’s Tip: Harry Helmsley and Lew Rudin were two independent investors who owned billions of dollars of New York real estate. Harry and Lew had similar investment strategies, Never Sell Anything. This is a somewhat different strategy than what we’ve been discussing. That’s OK. The means to the end are different, but the end results are the same - prosperity and financial independence. There are many roads to success. There is only one sure way to failure - do nothing.