Finished-Out Basements

Lamar Hunt, Jr. sees opportunity in basements.  When adding value to a rental property, finishing out a basement may just be the spot. “A finished-out basement makes it easier to lease.  Renters love the extra square footage if it’s finished out correctly.”  When deciding on spending the additional money, Lamar looks at what’s there now and how it will appear to a prospective tenant.  “We like to crunch the numbers and see how much more rent we can charge and what the return on investment will be.  If the basement is in decent shape, we will leave it.”  Of course, Lamar warns, you don’t want to get carried away with too many repairs on a basement.  “Think workout room, game room or kids play room.  Finishing out the basement to a wide open space is usually the best way to go for a rental unit.  Then, the tenant has options for their best use.”  Please check out our blog at http://lorettoproperties.com/ for more information when dealing with investment properties.  You can also call 913-236-2902 if you have property to sell.