Apartment Renovations 101
This is Investing in the REAL World!
In this Week’s Video, I continue to share my personal journey as I rehab a 4 Unit property that I recently purchased. Aside from new electrical and plumbing, we are going all in with a new layout of the living room, and a reconfigured bathroom.
Time consuming? Yes.
Worth it?… We will soon find out!
This is the 2nd 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 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!!!