What’s the most obvious way that you can add value to your apartment property?
It’s not a trick question, I promise. I could never be so cruel. ;-)
Renovations, right?
Anytime you can make improvements or upgrades, you can increase the value of your multifamily property.
However – use caution before diving into an extensive list of renovations. It takes long hours of research, consulting with your real estate agent and planning your strategy before you should even think about picking up a hammer.
Hey Moguls, Chris Urso here again, and today I want to talk about planning strategic renovations for your properties. To do that, I’m going to give you an example of a capital budget that my team has put together for a property we’ve owned for awhile now.
Every 6 months, we like to re-forecast our capital budget so we can determine what improvements or upgrades we’d like to make. Properties are fluid, markets…
Christopher Urso
is the founder of URS Capital Partners and National REIS. Chris has been investing in real estate since 2001. Over the years he has been involved in all aspects of real estate, from single-family fix and flips, buy and hold cash flow houses, and finally to apartment buildings. His real estate investment career only took off when he purchased his first apartment building 3.5 years ago. He now controls over $15,000,000 of apartments and has raised over $8,000,000 of private money in just over 3 years. He now structures investment partnerships to acquire large apartment complexes and also private coaches investors helping them purchase their own apartment buildings.