I Vacated ALL Units of a 5 Unit Complex.
Let Me Show You Why!
In a rent-controlled world should you vacate tenants or be happy with the Rent Cap Increases? It depends on your target rental rate and your target tenant clientele.
In this Week’s Video, I give you an update on the status of my most recent remodel project which consisted of vacating an entire apartment building! Sounds scary I know, and honestly a first for me as well, but the payout will be HUGE!
This is the 2nd installment in a 4 part series (WATCH NOW) as I attempt to assist those owners who avoid extreme renovations because they assume the process is too much hassle, they do not have the “know-how”, fear that the process is too costly, or incorrectly assume the final payout does not justify the capital investment.
What is my goal? Bottom Line – I want to help landlords obtain maximum cash-flow (especially in a rent-controlled market). In my opinion, owning multi-family investments should be extremely financially rewarding, while at the same time not overly consuming of your time. Second, by completing these types of improvements, when it is time to sell, a buyer will happily over-pay for your property because your rental rates & the condition of the property justifies above-market pricing!!!