Apartment Renovations 101
How Do You Increase Property Value & Cash-Flow?
In this Week’s Video, I continue to share my personal journey as I rehab a 4 Unit property that I recently purchased. Aside of sharing the actual details of the rehab itself, I also discuss the differences in the two types of copper plumbing available, cooling & heating options, retailers I use for building supplies, and we discuss an emergency repair to the main water line that was required. You’ll want to see this!
This is the second installment in a 4 part series 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 a burden to your personal time or finances. Second, by completing substantial improvements that matter, 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!!!