Whether you’re getting ready to buy your first property, or your tenth, these tips for proactively managing your appreciation will help you plan for higher returns on investment.
Multifamily apartment buildings often come with hidden value. Distracted owners and poorly focused, or inexperienced, property managers may defer maintenance, which leads to run down buildings and high turnover rates. Sometimes lackluster performance can be turned around with strategic renovations and an engaged management team.
As you tour potential properties, keep in mind the goal is to force appreciation – increase net operating income. Identifying simple fixes that significantly boost value for tenants while controlling operating expenses is a proactive step every investor can make.
Read more...What's Your Multifamily Investing Style: Passive or Proactive?
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